Shree Balaji (Mala) TextilesShare price, financial results, shareholding and management
- Market cap
- ₹48 cr
- Stock P/E
- 8.0peers 25.0
- Book value
- ₹27.3
- Price to book
- 1.79
- EV / operating profit
- -
- Market cap to sales
- 0.23
- ROCE · FY26
- 18.0%
- ROE · FY26
- 24.6%
- ROE, 3-year average
- 21.1%
- Operating margin · FY26
- 7.0%peers 9.2%
- Sales growth, 3 years
- 2.7%
- Profit growth, 3 years
- 81.7%
- Debt to equity
- 2.56peers 0.79
- Borrowings
- ₹69 cr
- Interest cover
- 2.1×
- Cash from business / op. profit
- -87%
- Debtor days
- 180
- Pledged
- 0.00%
- Promoter holding
- 72.74%
- Change in promoter holding
- -
- Shareholders
- 337
- 52-week high / low
- ₹140 / ₹45
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Shree Balaji (Mala) Textiles share price chart
Close on 6 Nov 2026 · 0.00% on the day · Vol 4,000
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -3.5%
- 3 months
- -50.2%
- Traded a day, 20 days
- ₹0.07 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +10% | +20% |
| 3 years, a year | +3% | +82% |
About Shree Balaji (Mala) Textiles: business, products and customers
Shree Balaji (Mala) Textiles makes low priced printed cotton sarees under the Mala Saree name and supplies them in bulk to dealers, wholesalers and saree shops, mostly in eastern India. Its shares trade on BSE SME.
The company is based in Kolkata, where it has a showroom and four warehouses, and it designs sarees, buys grey and bleached fabric and has them printed and finished. About ninety five per cent of the sarees are made by more than two hundred job workers in Jetpur, Surat, Mumbai, Kolkata and Rajkot, with the rest at its own small factory in Jetpur, which it has run itself since April 2025. Cotton sarees bring nine tenths of revenue, and it sold about seventy four lakh sarees in FY26.
Because the company buys its own fabric and pays job workers only for processing, revenue includes the full cost of the cloth, so margins are thin: a few rupees of profit on each hundred of sales. The trade also needs a lot of working capital, since stock is built before Durga Puja and Diwali and buyers take months to pay, so the company leans on bank credit lines and unsecured loans, and operating cash flow turned negative in FY26.
Read more about the business
It sells through brokers, dealers, wholesalers and about three thousand retailers, plus a B2B app, and no single buyer is large. The offer document compared it with two listed saree businesses, N R Vandana Tex Industries and Saraswati Saree Depot. In September 2026 the West Bengal tax enforcement directorate searched the company over GST, and it received a GST order on 9 October 2026; the order itself was not available here.
From the Red Herring Prospectus (July 2026) and the company's announcement of 9 October 2026.
Read the deeper study ↓In its favour
- The promoters own a large part of the company: 72.74%.
To watch
- The GST order received on 9 October 2026 after the search disclosed on 17 September 2026 (Announcement, 9 October 2026).
- Use of up to ₹16.5 cr of IPO money for working capital, with no monitoring agency appointed (Red Herring Prospectus, p.52 and p.100).
- Whether operating cash flow turns positive after the outflow of FY26 (Red Herring Prospectus, p.34).
- Results for the half year to September 2026, the first after listing.
- It paid no dividend in the past year.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Shree Balaji (Mala) Textiles revenue and profit growth
Half-yearly results · Profit and lossSales have grown slowly. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
Shree Balaji (Mala) Textiles profit and loss
Full years to March, FY22 to FY26 · ₹ crore, consolidated where reported
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Sales | 176 | 196 | 196 | 193 | 212 |
| Expenses | 170 | 189 | 186 | 180 | 197 |
| Operating profit | 7 | 7 | 10 | 13 | 15 |
| OPM | 3.8% | 3.7% | 5.0% | 7.0% | 7.0% |
| Other income | 1 | 0 | 0 | 0 | 0 |
| Interest | 5 | 6 | 7 | 6 | 7 |
| Depreciation | 0 | 0 | 0 | 0 | 0 |
| Exceptional and other items | -1 | 1 | · | · | · |
| Profit before tax | 2 | 2 | 3 | 7 | 8 |
| Tax rate | 50.0% | 50.0% | 33.3% | 28.6% | 25.0% |
| Net profit | 1 | 1 | 2 | 5 | 6 |
| EPS ₹ | 17.77 | 17.35 | 34.14 | 68.70 | 8.12 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
Earnings per share before FY26 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Shree Balaji (Mala) Textiles profitability
Margins and returns on capitalLast year the company kept about as much from each rupee of sales as the year before. It earns a moderate return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Operating margin | 3.8% | 3.7% | 5.0% | 7.0% | 7.0% |
| Tax rate | 50.0% | 50.0% | 33.3% | 28.6% | 25.0% |
| ROCE | · | 12.8% | 15.3% | 18.8% | 18.0% |
| ROE | · | 7.3% | 12.7% | 26.0% | 24.6% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Shree Balaji (Mala) Textiles debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. Its loans are now larger than its own money. Last year the business used more cash than it brought in. Customers take about as long to pay as they did in FY24.
Bars below the line are cash going out.
Shree Balaji (Mala) Textiles balance sheet
At each 31 March · ₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Equity capital | 0.72 | 0.72 | 0.72 | 0.72 | 7 |
| Reserves | 12 | 14 | 16 | 21 | 20 |
| Net worth | 12.72 | 14.72 | 16.72 | 21.72 | 27 |
| Borrowings | 50 | 48 | 51 | 49 | 69 |
| Other liabilities | 65.28 | 67.28 | 60.28 | 68.28 | 53 |
| Total liabilities | 128 | 130 | 128 | 139 | 149 |
| Fixed assets | 5 | 4 | 4 | 4 | 4 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| Other assets | 123 | 126 | 124 | 135 | 145 |
Shree Balaji (Mala) Textiles cash flow
₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | 6 | 7 | 4 | 9 | -13 |
| Cash from investing | 0 | 0 | 0 | 0 | 0 |
| Cash from financing | -7 | -8 | -3 | -9 | 13 |
| Net cash flow | -1 | -1 | 1 | 0 | 0 |
Working capital
Days
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Debtor days | 194 | 186 | 172 | 178 | 180 |
| Inventory days | 92 | 71 | 90 | 138 | 92 |
| Days payable | 153 | 135 | 144 | 170 | 109 |
| Cash conversion cycle | 132 | 122 | 118 | 146 | 162 |
| Working capital days | 49 | 23 | 21 | 32 | 23 |
Shree Balaji (Mala) Textiles peers and competitors
Listed SME companies in the same industryBy sales, Shree Balaji (Mala) Textiles is number 15 of the 62 listed SME companies in textiles & apparels.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Bizotic Commercial | 587 | 32.6 | 251 | 18 | 10.0% | 0.07 |
| Karnika Industries | 818 | 29.3 | 248 | 28 | 15.0% | 0.78 |
| K K Silk Mills | 23 | 4.6 | 245 | 5 | 6.0% | 0.80 |
| Unitec Fibres | - | - | 223 | 8 | 7.0% | 1.20 |
| Aayush Art And Bullion | 1,981 | 247.6 | 216 | 8 | 5.0% | 0.00 |
| Angel Fibers | 25 | 25.0 | 212 | 1 | 3.7% | 1.17 |
| Shree Balaji (Mala) Textiles | 48 | 8.0 | 212 | 6 | 7.0% | 2.56 |
| Madhur Knit Crafts | 109 | 8.4 | 211 | 13 | 13.0% | 1.66 |
| Shree Karni Fabcom | 307 | 20.2 | 204 | 15.2 | 15.3% | 0.89 |
| Forcas Studio | 401 | 29.4 | 198 | 13.6 | 10.6% | 0.58 |
| S D Retail | 157 | 16.1 | 196 | 9.8 | 8.4% | 0.14 |
| Median of the 10 others | 307 | 25 | 214 | 11.4 | 9.2% | 0.79 |
Shree Balaji (Mala) Textiles shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Foreign and Indian funds own a noticeable share.
Shree Balaji (Mala) Textiles shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Jul 26 | |
|---|---|
| Promoters | 72.74% |
| Foreign investors (FIIs) | 3.86% |
| Indian institutions (DIIs) | 7.23% |
| Number of shareholders | 337 |
Shree Balaji (Mala) Textiles study: the business from its own documents
Read from 3 of the company's own documentsShree Balaji (Mala) Textiles key facts from the filings
Each figure with the document it comes from
- FY26 revenue
- ₹212.0 cr
- Up 9.8% after two flat years, with profit after tax of ₹5.9 cr, a margin of 2.8%.Red Herring Prospectus, p.112
- Cotton sarees
- 90.75%
- Share of FY26 revenue; embroidered sarees gave most of the rest.Red Herring Prospectus, p.146
- Sarees sold
- 74 lakh
- Pieces sold in FY26, at an average price of around ₹270 each.Red Herring Prospectus, p.142 and p.146
- Made by job workers
- 95%
- Share of output made by outside units; job work cost 28.6% of FY26 revenue.Red Herring Prospectus, p.142 and p.145
- Eastern India
- 91.0%
- Share of FY26 revenue from the east, mainly West Bengal; the northeast gave another 6.0%.Red Herring Prospectus, p.153
Show 5 more facts
- Top ten customers
- 18.6%
- Share of FY26 revenue; the largest single buyer gave 3.8%.Red Herring Prospectus, p.154
- Working capital days
- 140
- In FY26; bank working capital lines of ₹58.7 cr were in use at March 2026, plus ₹10.3 cr of unsecured loans.Red Herring Prospectus, p.32
- Debt to equity
- 2.51
- At March 2026, before the IPO money came in.Red Herring Prospectus, p.112
- Operating cash flow
- −₹13.3 cr
- In FY26, against ₹8.8 cr inflow in FY25, as working capital rose.Red Herring Prospectus, p.34
- GST matter
- Order received
- After a GST search by the West Bengal enforcement directorate disclosed on 17 September 2026, the company received an order on 9 October 2026.Announcement, 9 October 2026, p.1
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The offer document set aside up to ₹16.5 cr of the IPO money for working capital, with the rest for general purposes. The company says it plans to grow sales through e-commerce, where it has sold about five lakh sarees on the SOLV B2B platform since 2023, and it began distributing Garden Vareli synthetic sarees in June 2025 to test demand in that category.
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
The company earns a thin trading margin on large volumes of cheap printed cotton sarees made for it by job workers and sold to wholesalers and shops.
Its weak spots are heavy borrowing to carry stock and money owed by buyers, dependence on one region, and a tax matter opened after listing.
WatchCan it set its own prices?It sells on low price in a crowded market, so it has little room to raise prices without losing buyers.
AverageHow strong is it against rivals?The Mala Saree name and a long dealer network help, but the trade has many organised and unorganised players and job workers also make for others.
StrongWho are its customers?Thousands of retailers, wholesalers and dealers, so no single buyer matters much, though nearly all are in the east.
WatchDoes it need a lot of money?Yes: stock and money owed by buyers tie up months of sales, funded largely by bank credit lines.
AverageCan it keep finding new work?Repeat orders come through a long standing network each season, but growth has been slow and new channels are small.
AverageDo good and bad years swing a lot?Sales bunch before Durga Puja and Diwali, which moves stock and cash within the year, but yearly revenue has been fairly steady.
Who runs Shree Balaji (Mala) Textiles?
Promoters, directors and officers; tap a name for the background
BKBinod Kumar KediaPromoter, Chairman and Managing Director
Holds a Bachelor of Commerce from the University of Calcutta, with over 30 years in textiles; began as a cotton saree trader under the proprietorship Shree Balaji Textile and has been with the company since September 2005. Responsible for strategy and long term decisions, and takes the lead on designs.
Red Herring Prospectus, p.176 and p.151AKAnita KediaPromoter and Whole Time Director
With the company since September 2005, with over 20 years in textiles, leading design and sample development. The offer document states Anita Kedia is the spouse of Binod Kumar Kedia.
Red Herring Prospectus, p.176 to 177MCMrityunjay Commosales Private LimitedCorporate Promoter
A Kolkata company formed in 2010, owned 55.56% by Anita Kedia and 44.44% by Binod Kedia, with Anita Kedia and Rishika Kedia as its directors.
Red Herring Prospectus, p.190RKRishika KediaExecutive Director
Holds a Bachelor of Commerce (Honours) from the University of Calcutta and joined the company in March 2026, overseeing finance and marketing. The offer document states Rishika Kedia is the daughter-in-law of Binod Kumar Kedia and Anita Kedia.
Red Herring Prospectus, p.144 and p.176 to 177SKShivam KediaChief Financial Officer
Holds a Bachelor of Management Studies from St. Xavier's University, Kolkata and a programme in family managed business from S P Jain School of Global Management; with the company since 2020 and Chief Financial Officer since June 2025.
Red Herring Prospectus, p.186MBManoj BaidIndependent Director
A chartered accountant and company secretary with ten years in corporate banking at HDFC Bank; appointed in June 2025 for five years.
Red Herring Prospectus, p.176 to 177GDGautam DugarIndependent Director
A company secretary with a Master of Commerce from the University of Burdwan, with more than eight years in educational coaching; with the company since June 2025.
Red Herring Prospectus, p.177Shree Balaji (Mala) Textiles latest news and announcements
Announcements · Documents · Corporate actionsShree Balaji (Mala) Textiles announcements
6 on record, latest first; each opens the filing on the exchange
Shree Balaji (Mala) Textiles annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
Shree Balaji (Mala) Textiles share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Shree Balaji (Mala) Textiles' data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- iThe shares traded on only 45 days in the past year, so the price, its range and the returns here rest on few trades.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (99,05,000 shares).
- !The FY26 results imply 70,00,000 shares at face value ₹10, which disagrees with the shareholding pattern; the pattern is used.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- !Earnings per share changes basis between FY25 (₹68.70) and FY26 (₹8.12) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY22 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Shree Balaji (Mala) Textiles
What does Shree Balaji (Mala) Textiles do?
Shree Balaji (Mala) Textiles makes low priced printed cotton sarees under the Mala Saree name and supplies them in bulk to dealers, wholesalers and saree shops, mostly in eastern India. Its shares trade on BSE SME.
What is the share price of Shree Balaji (Mala) Textiles?
₹48.8 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Shree Balaji (Mala) Textiles?
₹48 cr at the close on 6 Nov 2026, on 99,05,000 shares.
What is the P/E of Shree Balaji (Mala) Textiles?
8.0 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Shree Balaji (Mala) Textiles' revenue and profit?
Revenue ₹212 cr and profit after tax ₹6 cr in FY26.
Who are the promoters of Shree Balaji (Mala) Textiles?
Binod Kumar Kedia, Anita Kedia, Mrityunjay Commosales Private Limited; promoters held 72.74% at 31 July 2026.
What is Shree Balaji (Mala) Textiles' website?
www.malasaree.com
More SME companies like Shree Balaji (Mala) Textiles
Other listed SME companies in textiles & apparels, the closest in size first, each read from its own documents.
- Vivaa TradecomVIVAA · BSE SME · Textiles & ApparelsMarket cap ₹53 cr
- Harikanta OverseasHARIKANTA · BSE SME · Textiles & ApparelsMarket cap ₹54 cr
- Vera SyntheticVERA · NSE Emerge · Textiles & Apparels · listed 2018Market cap ₹43 cr
- Silky OverseasSILKY · NSE Emerge · Textiles & Apparels · listed 2025Market cap ₹43 cr
- Avax Apparels and OrnamentsAVAX · BSE SME · Textiles & ApparelsMarket cap ₹42 cr
- Divyadhan Recycling IndustriesDIVYADHAN · NSE Emerge · Textiles & Apparels · listed 2024Market cap ₹56 cr
Built from 2 annual reports, 1 offer document, 6 exchange announcements, 1 shareholding patterns and 5 years of reported results. Every figure carries its source; where the documents are silent, the page says so.