Vivekanand CotspinShare price, financial results, shareholding and management
- Market cap
- ₹180 cr
- Stock P/E
- 45.1peers 14.1
- Book value
- ₹13
- Price to book
- 6.23
- EV / operating profit
- -
- Market cap to sales
- 0.44
- ROCE · FY26
- 15.1%
- ROE · FY26
- 17.4%
- ROE, 3-year average
- 17.6%
- Operating margin · FY26
- 3.7%peers 7.3%
- Sales growth, 3 years
- 10.5%
- Profit growth, 3 years
- +0.0%
- Debt to equity
- 1.55peers 0.79
- Borrowings
- ₹45 cr
- Interest cover
- 1.8×
- Cash from business / op. profit
- 60%
- Debtor days
- 11
- Pledged
- 0.00%
- Promoter holding
- 73.03%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 433
- 52-week high / low
- ₹84 / ₹36
- 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.
Vivekanand Cotspin share price chart
Close on 6 Nov 2026 · -3.44% on the day · Vol 33,000
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
- +79.6%
- Traded a day, 20 days
- ₹0.18 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +41% | +0% |
| 3 years, a year | +11% | - |
About Vivekanand Cotspin: business, products and customers
Vivekanand Cotspin turns raw cotton into cotton bales, cotton seed and cotton yarn at its plant in Kadi, Gujarat, and sells them to textile mills, fabric makers and traders in India and abroad. Its shares trade on BSE SME.
The company was set up in 2015 as a partnership firm of the Patel family and became a public company in December 2024. It purchases raw cotton (kapas) from farmers and local suppliers in the ginning season, separates the fibre from the seed and presses it into bales, and spins part of the fibre into carded and combed yarn; the seed and spinning waste are sold as by-products.
Ginning and spinning add little value to a costly raw material, so sales are large but margins are thin and profit moves with cotton prices. Cotton has to be bought during a harvest season of six to eight months, which ties up money in stock and bank loans for part of each year.
Read more about the business
The company sits inside a family group. Vivekanand Industries takes its cotton seed for oil and cake, and Ambica Cotseeds exports bales and yarn for it; in FY24 these two related firms took about two thirds of its sales, a share that fell to a small slice by FY26 as the company sold more directly in India and began exporting to China and other countries itself.
The documents name no rival companies; the offer document describes an intensely competitive and fragmented yarn market with small local mills and large established players.
From the offer document (Red Herring Prospectus, September 2026) and the CARE Ratings notes of April and October 2025.
Read the deeper study ↓In its favour
- It brings in more cash than it shows as profit: ₹9 cr against ₹4 cr in FY26.
- The promoters own a large part of the company: 73.03%.
To watch
- Results for the half year to September 2026, the first after listing (Announcement, 29 September 2026).
- Use of IPO money on new machinery in FY27 and working capital over FY27 and FY28 (Offer document, p.100).
- Yarn unit capacity use, which fell to 67% in FY26 (Offer document, p.171).
- Sales to related firms Ambica Cotseeds and Vivekanand Industries (Offer document, p.72).
- Customers take longer to pay than before: 11 days in FY26, against 2 in FY22.
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.
Vivekanand Cotspin revenue and profit growth
Half-yearly results · Profit and lossSales have grown steadily. Last year profit grew more slowly than sales, so the profit kept from each rupee of sales slipped.
Vivekanand Cotspin profit and loss
Full years to March, FY22 to FY26 · ₹ crore, consolidated where reported
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Sales | 183 | 302 | 357 | 290 | 408 |
| Expenses | 174 | 292 | 343 | 281 | 393 |
| Operating profit | 9 | 10 | 15 | 9 | 15 |
| OPM | 4.8% | 3.1% | 4.2% | 3.2% | 3.7% |
| Other income | 0 | 0 | 0 | 0 | 1 |
| Interest | 3 | 5 | 4 | 3 | 6 |
| Depreciation | 7 | 6 | 6 | 4 | 6 |
| Exceptional and other items | · | · | · | 1 | 1 |
| Profit before tax | -1 | -1 | 5 | 3 | 5 |
| Tax rate | -12.0% | -15.0% | 20.0% | -33.3% | 20.0% |
| Net profit | -1 | -1 | 4 | 4 | 4 |
| EPS ₹ | · | · | · | 2.71 | 2.27 |
| 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.
A tax rate above 60% or below zero (FY22, FY23, FY25) comes from tax charged on a small or negative profit, as reported.
Vivekanand Cotspin 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 | 4.8% | 3.1% | 4.2% | 3.2% | 3.7% |
| Tax rate | -12.0% | -15.0% | 20.0% | -33.3% | 20.0% |
| ROCE | · | 5.8% | 14.3% | 9.0% | 15.1% |
| ROE | · | -3.1% | 14.8% | 20.5% | 17.4% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Vivekanand Cotspin 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 brought in more cash than it showed as profit. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Vivekanand Cotspin balance sheet
At each 31 March · ₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 15 | 16 |
| Reserves | 32 | 32 | 22 | 2 | 13 |
| Net worth | 32 | 32 | 22 | 17 | 29 |
| Borrowings | 42 | 32 | 40 | 55 | 45 |
| Other liabilities | 9 | 8 | 23 | 16 | 11 |
| Total liabilities | 83 | 72 | 85 | 88 | 85 |
| Fixed assets | 48 | 42 | 51 | 46 | 43 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| Other assets | 35 | 30 | 34 | 42 | 42 |
Vivekanand Cotspin cash flow
₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | -2 | 15 | 24 | -11 | 9 |
| Cash from investing | -4 | 0 | -15 | 0 | -1 |
| Cash from financing | 5 | -14 | -10 | 11 | -7 |
| Net cash flow | -1 | 1 | -1 | 0 | 1 |
Working capital
Days
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Debtor days | 2 | 12 | 2 | 19 | 11 |
| Inventory days | 52 | 21 | 29 | 24 | 24 |
| Days payable | 1 | 3 | 17 | 8 | 2 |
| Cash conversion cycle | 53 | 30 | 14 | 35 | 32 |
| Working capital days | 23 | 2 | -8 | 5 | 3 |
Vivekanand Cotspin peers and competitors
Listed SME companies in the same industryBy sales, Vivekanand Cotspin is number 4 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 |
|---|---|---|---|---|---|---|
| Siddhi Cotspin | 65 | 6.7 | 478 | 9.6 | 5.4% | 0.20 |
| Vivekanand Cotspin | 180 | 45.1 | 408 | 4 | 3.7% | 1.55 |
| Veekayem Fashion and Apparels | 101 | 10.1 | 365 | 10 | 7.7% | 1.64 |
| Vinod Texworld | 49 | 4.9 | 343 | 10 | 7.0% | 1.63 |
| Spunweb Nonwoven | 326 | 14.1 | 324 | 23.1 | 17.3% | 0.63 |
| N R Vandana Tex Industries | 163 | 15.5 | 304 | 10.5 | 7.8% | 1.40 |
| Vivaa Tradecom | 54 | 54.3 | 285 | 1 | 0.5% | 0.18 |
| 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 |
| Median of the 10 others | 101 | 14.1 | 295 | 10 | 7.3% | 0.79 |
Vivekanand Cotspin shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Foreign and Indian funds own a noticeable share. The number of shareholders is about the same.
Vivekanand Cotspin 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.
| Jun 26 | Sep 26 | |
|---|---|---|
| Promoters | 73.03% | 73.03% |
| Foreign investors (FIIs) | - | 7.64% |
| Indian institutions (DIIs) | - | 5.10% |
| Number of shareholders | 433 | 433 |
Vivekanand Cotspin study: the business from its own documents
Read from 4 of the company's own documentsVivekanand Cotspin key facts from the filings
Each figure with the document it comes from
- FY26 sales
- ₹408.0 cr
- Revenue from operations, up from ₹365.9 cr in FY25 taken across its two reporting periods; profit after tax was ₹3.7 cr.Offer document, p.171; our arithmetic
- Thin margins
- 3.70%
- FY26 operating margin; the net margin was 0.90%.Offer document, p.171
- Yarn share
- 52%
- Cotton yarn's share of FY26 product sales, up from 28% in FY24 as bales fell from 60% to 39%.Offer document, p.171
- Capacity
- 8,000 t and 4,551 t
- Yearly capacity for bales and yarn; in FY26 the bale unit ran at 93% and the yarn unit at 67%, down from 81% in FY24.Offer document, p.160 and p.171
- Related party sales
- 66% to 6.5%
- Share of revenue sold to Ambica Cotseeds and Vivekanand Industries in FY24 and in FY26.Offer document, p.72; our arithmetic
Show 5 more facts
- Top ten customers
- 51%
- Share of FY26 sales, down from 89% in FY24.Offer document, p.177
- Exports
- ₹41.4 cr
- FY26 export sales, about a tenth of the total, with China the largest market.Offer document, p.172
- Borrowings
- ₹45.0 cr
- Long and short term borrowings at March 2026, against inventories of ₹24.4 cr.Offer document, p.65 to 66; our arithmetic
- Credit rating
- CARE BB+
- Upgraded from CARE BB in October 2025 on better profitability; CARE calls the group's capital structure highly leveraged and its liquidity stretched.CARE Ratings, 1 October 2025, p.1 to 2
- Staff turnover
- 40%
- Attrition rate in FY26, with 143 employees at year end.Offer document, p.175
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 says the IPO money of a fresh issue of up to 60,00,000 shares is to fund new plant and machinery of ₹5.3 cr in FY27 and ₹11.0 cr of working capital across FY27 and FY28, with the rest for general corporate purposes. The company says it plans to widen its reach in other Indian states and abroad. Results for the half year to September 2026 are due, the first as a listed company.
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.
Vivekanand earns a thin margin turning raw cotton into bales and yarn, so large sales leave little profit.
Its weak spots are cotton price swings, heavy borrowing for seasonal stock, and a long history of selling through family firms.
WatchCan it set its own prices?Cotton and yarn are commodities, so prices are set by the market and the company can only partly pass on changes in cotton costs.
WatchHow strong is it against rivals?It is one of many ginning and spinning mills in a crowded market, helped mainly by being close to Gujarat's cotton fields.
AverageWho are its customers?Textile mills and traders, now spread far wider than before, when two family firms took most of its output.
WatchDoes it need a lot of money?Yes. Cotton must be bought in season and held, so the business runs on bank loans and the IPO money is mostly for working capital.
AverageCan it keep finding new work?Demand for bales and yarn is steady, and new direct export markets opened in FY26, but the yarn unit ran below capacity.
WatchDo good and bad years swing a lot?Yes. Crop size, weather and cotton prices move both sales and the thin profit from year to year.
Who runs Vivekanand Cotspin?
Promoters, directors and officers; tap a name for the background
NBNirav Bharatbhai PatelPromoter, Chairman and Managing Director
Holds a Bachelor of Accounting and Bachelor of Business (Management) from Central Queensland University and has 15 years in cotton ginning and spinning; a designated partner of the firm since 2015 and Chairman and Managing Director for five years from January 2025. The offer document states Bharatbhai Prahaladbhai Patel is the father.
Offer document, p.199 to 200JVJasmin Visnubhai PatelPromoter and Whole-Time Director
A Bachelor of Engineering in textile technology with six years in ginning and spinning; a partner since 2015, now overseeing plant operations. The offer document states Vishnubhai Prahladdas Patel is the father.
Offer document, p.199 to 200BPBharatbhai Prahaladbhai PatelPromoter and Non-Executive Director
Studied to secondary level with 15 years in cotton ginning and spinning; a partner since 2015 with expertise in production and machinery. A brother of Vishnubhai Prahladdas Patel, as the offer document states.
Offer document, p.199 to 200VPVishnubhai Prahladdas PatelPromoter and Non-Executive Director
Studied to secondary level with 15 years in cotton ginning and spinning; a designated partner since 2015, executive director from August 2024 and non-executive since January 2025.
Offer document, p.200 to 201GBGautam Bharatkumar PatelPromoter
Studied to higher secondary level with nine years in the textile industry; held 20% of the shares before the IPO and is not on the board.
Offer document, p.213RBRanjanben Bharatbhai PatelPromoter
A homemaker with an interest in the related firms Ambica Cotseeds and Vivekanand Industries; a trustee of the B P Patel Family Trust.
Offer document, p.214KVKapilaben Vishnubhai PatelPromoter
A homemaker with an interest in Ambica Cotseeds, Vivekanand Industries and Avadh Cotton Industries; a trustee of the V P Patel Family Trust.
Offer document, p.214BPB P Patel Family TrustPromoter
A family trust created on 17 December 2024 with Bharatbhai Patel and Ranjanben Patel as trustees, set up to hold assets for family beneficiaries.
Offer document, p.214 to 215VPV P Patel Family TrustPromoter
A family trust created on 17 December 2024 with Vishnubhai Patel and Kapilaben Patel as trustees, set up to hold assets for family beneficiaries.
Offer document, p.215 to 216RKRohit KhandelwalIndependent Director
A Fellow Chartered Accountant, Associate Company Secretary and registered valuer with more than six years in finance and advisory; independent director since April 2026.
Offer document, p.201Vivekanand Cotspin latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- Shareholding, 30 Sept 2026: promoters unchanged at 73.03%.
Vivekanand Cotspin announcements
2 on record, latest first; each opens the filing on the exchange
Vivekanand Cotspin annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
Vivekanand Cotspin 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 Vivekanand Cotspin's data · 9
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 12 days in the past year, so the price, its range and the returns here rest on few trades.
- iNet profit is above profit before tax in FY25: a tax credit or a share of associates' profit, as reported.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (2,22,50,000 shares).
- !The FY26 results imply 1,60,00,000 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 moves in line with profit across the years shown.
- ✓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 Vivekanand Cotspin
What does Vivekanand Cotspin do?
Vivekanand Cotspin turns raw cotton into cotton bales, cotton seed and cotton yarn at its plant in Kadi, Gujarat, and sells them to textile mills, fabric makers and traders in India and abroad. Its shares trade on BSE SME.
What is the share price of Vivekanand Cotspin?
₹81 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Vivekanand Cotspin?
₹180 cr at the close on 6 Nov 2026, on 2,22,50,000 shares.
What is the P/E of Vivekanand Cotspin?
45.1 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Vivekanand Cotspin's revenue and profit?
Revenue ₹408 cr and profit after tax ₹4 cr in FY26.
Who are the promoters of Vivekanand Cotspin?
Nirav Bharatbhai Patel, Jasmin Visnubhai Patel, Bharatbhai Prahaladbhai Patel, Vishnubhai Prahladdas Patel, Gautam Bharatkumar Patel, Ranjanben Bharatbhai Patel, Kapilaben Vishnubhai Patel, B P Patel Family Trust, V P Patel Family Trust; promoters held 73.03% at 30 Sept 2026.
More SME companies like Vivekanand Cotspin
Other listed SME companies in textiles & apparels, the closest in size first, each read from its own documents.
- Game Changers TexfabTRADEUNO · BSE SME · Textiles & ApparelsMarket cap ₹175 cr
- N R Vandana Tex IndustriesNRVANDANA · NSE Emerge · Textiles & Apparels · listed 2025Market cap ₹164 cr
- Fascinate TextilesFASCINATE · NSE Emerge · Textiles & Apparels · listed 2026Market cap ₹162 cr
- Fractal IndustriesFIL · BSE SME · Textiles & ApparelsMarket cap ₹153 cr
- S D RetailSDREAMS · NSE Emerge · Textiles & Apparels · listed 2024Market cap ₹148 cr
- C P S ShapersCPS · NSE Emerge · Textiles & Apparels · listed 2023Market cap ₹226 cr
Built from 2 credit rating notes, 1 offer document, 1 result filing, 2 exchange announcements, 2 shareholding patterns and 5 years of reported results. Every figure carries its source; where the documents are silent, the page says so.