Nandan Denim Ltd (NDL)

Textiles · Textiles · NSE · Updated 1 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹2.84 ↓ 14.46% (1Y)

🎯 Key Takeaways

Nandan Denim Limited is in a phase of operational stabilization with signs of sequential improvement in profitability, supported by leadership continuity through the re-appointment of its Managing Director. The company operates in the textiles sector with a low P/E of 10.
Revenue grew 15.3% QoQ to ₹622 in Q1FY27.
⚠️ The company operates in a low-margin, competitive textiles sector with limited pricing power and exposure to raw material and export volatility.

Market Cap

₹409

P/E Ratio

10.9

P/B Ratio

0.66

ROE

5.9%

ROCE

6.1%

Debt/Equity

0.40

Promoter

51.0%

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📖 The Story

Nandan Denim Limited is in a phase of operational stabilization with signs of sequential improvement in profitability, supported by leadership continuity through the re-appointment of its Managing Director. The company operates in the textiles sector with a low P/E of 10.9 and modest returns, reflecting market caution over its growth trajectory. Recent financial trends show revenue recovery and improved margins, while governance actions signal confidence in long-term stability.

📰 What's Happening

In Q1 FY27 (June 2026), the company reported a total income of ₹62,481.67 lakhs and net profit of ₹1,479.61 lakhs, up from ₹950.55 lakhs in the prior quarter, with EPS rising to ₹0.10. The Board reaffirmed the re-appointment of Managing Director Jyotiprasad Chiripal for a five-year term effective June 1, 2027, pending shareholder approval. This governance move underscores leadership continuity amid financial improvement. The results were reviewed by Nahta Jain & Associates with no material misstatements identified, and compliance with SEBI LODR was confirmed.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	785	500	540	622
Operating Profit	13	9	2	13
OPM %	1.7%	1.9%	0.4%	2.0%
Net Profit	9	3	10	15
EPS	₹0.07	₹0.02	₹0.07	₹0.10

Revenue has shown sequential recovery, rising from ₹500 lakhs in December 2025 to ₹540 lakhs in March 2026 and further to ₹622 lakhs in June 2026, indicating improving demand or pricing power. Operating margins have stabilized near 2%, up from 0.4% in the previous quarter, while net profit margins remain thin but are trending upward. Earnings per share increased to ₹0.10 from ₹0.07 in the prior quarter, reflecting better cost control and scale utilization. These trends align with management’s focus on operational efficiency and suggest early signs of margin recovery in a competitive sector.

🔮 Management Outlook & What's Next

Management has not provided forward-looking guidance on revenue or margins in the latest filings. However, the re-appointment of the Managing Director until 2032 signals confidence in sustained leadership and long-term strategy continuity. The Board continues to emphasize compliance with SEBI LODR and has appointed new auditors for FY26-27 to ensure governance rigor. No specific growth targets or capital allocation plans were disclosed in the recent announcements.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2025	Mar 2026	Mar 2026
Equity Capital	144	144	144	144
Reserves	457	475	495	507
Borrowings	308	249	221	118
Total Liabilities	1,307	1,274	1,232	1,032
Fixed Assets	481	459	442	421
Investments	1	1	1	1
Total Assets	1,307	1,274	1,232	1,032

The balance sheet shows a stable capital structure with equity held constant at ₹144 lakhs and reserves growing slightly to ₹507 lakhs as of March 2026. Borrowings have declined from ₹249 lakhs to ₹118 lakhs over the past year, indicating active deleveraging. Total assets peaked at ₹1,274 lakhs in March 2025 and have since stabilized near ₹1,032 lakhs, suggesting reduced investment or asset sales. The improving debt-to-equity ratio (down from 0.40 to 0.40 but with lower absolute debt) reflects a conservative financial posture and reduced financial risk.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2025
Operating	+95
Investing	+10
Financing	-117
Net Cash Flow	-13

👥 Shareholding Pattern

Category	Q2FY26	Q3FY26	Q4FY26	Q1FY27
Promoters	51.0%	51.0%	51.0%	51.0%
FII	0.7%	0.7%	0.7%	0.6%
DII	1.3%	1.3%	1.3%	1.3%
Public	39.5%	39.6%	39.5%	39.6%
# Shareholders	1,88,934	1,85,973	1,85,111	1,83,763

Promoter holding remains stable at 51.01% over the last four quarters, indicating no dilution or stake sale. Foreign Institutional Investors (FII) have shown marginal accumulation, increasing from 0.63% to 0.68%, while Domestic Institutional Investors (DII) held steady at 1.31%. The number of public shareholders has slightly declined, but overall retail participation remains broad with over 1.8 lakh accounts. No significant changes in institutional sentiment are evident, suggesting neutral to slightly positive investor confidence.

⚖️ Peer Comparison — Textiles

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
GRASIM	2.26 L Cr	39.5	9.6%	10.8%	2.16
WELSPUNLIV	18,531	64.3	7.4%	5.9%	0.51
VTL	16,529	19.2	10.7%	8.7%	0.13
ARVIND	15,111	35.1	14.3%	10.6%	0.36
TRIDENT	12,322	31.0	10.1%	8.3%	0.37
ICIL	9,294	61.6	9.8%	6.4%	0.46
SWANCORP	9,195	44.2	4.2%	2.9%	0.29
GARFIBRES	7,936	38.3	22.9%	16.9%	0.05
KUSUMGAR	6,097	—	—	—	0.45
PDSL	5,175	44.0	12.5%	10.5%	0.64

🔗 Peer Stock Analyses

GRASIM WELSPUNLIV VTL ARVIND TRIDENT

⚠️ Risk Factors

1. The company operates in a low-margin, competitive textiles sector with limited pricing power and exposure to raw material and export volatility. 2. Profitability remains fragile, with net profit margins below 2.5% and reliance on sequential improvement without clear scalability demonstrated. 3. Governance actions are routine but critical — any delay or rejection of MD re-appointment by shareholders could disrupt leadership continuity. 4. Despite deleveraging, the asset base has contracted, raising concerns about long-term capacity or investment in growth initiatives.

📋 Recent Filings

🧠 Analyst's Read

Nandan Denim is navigating a modest recovery with improving operational metrics and stable governance, but lacks clear catalysts for transformational growth. Investors should monitor the MD re-appointment vote outcome and future margin trends to assess sustainability. The stock remains sensitive to sector-specific headwinds and macroeconomic pressures, warranting close watch on execution and capital efficiency.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-01.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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