Ginni Filaments Limited. (GINNIFILA) AI Stock Analysis

• Market Cap: ₹3.12B
• Dividend Yield: N/A
• Average Volume (3M): 8.85K
• Price to Earnings (P/E): 9.8
• Beta (1Y): 0.97
• Revenue Growth: -18.38%
• EPS Growth: N/A
• Country: IN
• Employees: 458
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Apparel - Manufacturers
• EPS (TTM): 1.06
• Shares Outstanding: 85,650,060
• 10 Day Avg. Volume: 8,419
• 30 Day Avg. Volume: 8,850
• PEG Ratio: -0.39
• Price to Book (P/B): 0.86
• Price to Sales (P/S): 0.46
• P/FCF Ratio: 27.63
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 57 Neutral
• Price Target: ₹36.00 ▼(-13.54% Downside)
• Action: Reiterated Date: 02/14/26
• Date: Action: Reiterated 02/14/26

The score is driven primarily by mixed financial performance (thin net profitability and cash-flow volatility despite improved gross margins and some de-leveraging). Technicals are neutral-to-slightly positive with price above short-term averages but below longer-term trends, while the modest P/E provides a valuation tailwind.

Positive Factors

Improved Gross Margins

Sustained improvement in gross margins indicates better input cost management or pricing power in the cotton yarn value chain. Over months this supports operating resilience versus raw-material swings, enabling reinvestment into capacity or quality and helping stabilize operating leverage.

Trend of De-leveraging

A demonstrable decline in leverage improves financial flexibility and reduces interest burden over time. Lower debt levels strengthen the balance sheet against textile demand cyclicality, making capital allocation for maintenance, modernization, or strategic initiatives more feasible in the medium term.

Solid Equity/Asset Base

A robust equity ratio provides a durable capital cushion for working capital and capex needs intrinsic to manufacturing. This asset-backed structure supports credit access, underpins supply-chain relationships, and helps the company absorb demand volatility without immediate distress.

Negative Factors

Thin Net Profit Margins

Persistently thin net margins limit the firm's ability to convert sales into retained earnings, reducing buffers against raw-material shocks or downturns. Over 2-6 months this constrains cash available for debt reduction, capex, or strategic investments, weakening long-term return prospects.

Volatile Cash Flows

Significant operating and free cash-flow swings hinder reliable reinvestment and heighten liquidity risk. In a capital-intensive textiles business, inconsistent cash generation undermines planned maintenance, capacity utilization, and the ability to sustain dividends or accelerate deleveraging.

Residual Leverage Risk

Remaining dependence on debt leaves the company exposed to interest-rate or demand shocks given thin profitability and cash volatility. Without continued deleveraging, leverage can constrain strategic flexibility and raise refinancing risk over the medium term.

Ginni Filaments Limited. Business Overview & Revenue Model

Company Description

Ginni Filaments Limited manufactures and sells cotton yarns, knitted fabrics, non-woven fabrics, garments, wipes, and cosmetics in India. The company operates through Textiles and Others segments. It offers ring spun, open end, and specialty yarns; single and double jersey, and flat knit fabrics; and garments, such as polo's, round necks, rugby's, henley's, sweat shirts, and leggings for men, ladies, and children. The company also provides nonwoven fabrics comprising polyester, viscose, and cotton enriched blends that are used in various applications, including personal hygiene, medical, hospitality, packaging, garments, pultrusion, leather, filtration, automobile, and home furnishing; and filters used for the removal of contaminants from water and other liquids in pharmaceutical, cosmetic, biotechnology, and other industries. In addition, it offers hygiene, cosmetic, medical, home care, and baby care products. The company also exports its products. Ginni Filaments Limited was incorporated in 1982 and is based in Noida, India.

How the Company Makes Money

Ginni Filaments Limited makes money mainly by manufacturing and selling cotton yarn and other cotton-based textile products to downstream customers such as fabric manufacturers, garment makers, and trading customers. Revenue is generated from product sales (typically priced per unit/weight of yarn or textile output), with realizations influenced by order volumes, product mix (e.g., counts/qualities of yarn), and prevailing cotton and yarn market prices. Earnings are driven by the spread between input costs (especially raw cotton and other processing inputs) and the selling prices of its finished yarn/textile outputs, along with manufacturing efficiency and capacity utilization. Specific details on customer concentration, long-term offtake agreements, export share, or named strategic partnerships are null.

Ginni Filaments Limited. Financial Statement Overview

Summary

Overall fundamentals are mixed: improved gross margins and a better (but still meaningful) leverage profile are positives, but thin net margins, inconsistent revenue, and volatile operating/free cash flow limit the financial strength score.

Income Statement

Ginni Filaments Limited has shown a mixed performance in its income statement. The company's gross profit margin has improved significantly from the previous year, indicating better cost management or pricing strategies. However, the net profit margin is low, which suggests challenges in controlling expenses or interest costs. Revenue growth has been inconsistent, with fluctuations over the years, reflecting potential volatility in market demand or operational efficiency. The EBIT margin indicates some level of operating efficiency, yet the overall profitability remains a concern due to the thin net margins.

Balance Sheet

The balance sheet of Ginni Filaments Limited suggests moderate financial stability. The debt-to-equity ratio indicates a reliance on debt, but it has improved over the years, suggesting a positive trend towards de-leveraging. Return on equity is low, which may be a result of low net income levels. The equity ratio is fairly robust, indicating a solid asset base backed by equity. While the company has made progress in reducing debt, its overall leverage still poses a risk, and further improvements in profitability are needed to enhance returns for shareholders.

Cash Flow

Cash flow analysis reveals a mixed picture for Ginni Filaments Limited. The company has experienced volatility in operating cash flows, with significant fluctuations in recent years. Free cash flow has been inconsistent, which could impact the company's ability to invest in growth or return capital to shareholders. The operating cash flow to net income ratio is relatively stable, but the free cash flow to net income ratio indicates potential liquidity challenges. Overall, the cash flow position reflects operational challenges and the need for improved cash generation.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	3.99B	3.74B	3.44B	3.64B	10.70B	7.74B
Gross Profit	1.99B	1.78B	997.74M	1.15B	3.24B	1.30B
EBITDA	558.18M	290.58M	82.31M	536.91M	1.21B	1.12B
Net Income	249.60M	41.95M	-844.95M	-143.31M	483.63M	412.96M
Balance Sheet
Total Assets	3.06B	3.36B	3.54B	6.37B	7.77B	5.83B
Cash, Cash Equivalents and Short-Term Investments	62.67M	63.86M	201.13M	23.16M	17.15M	22.88M
Total Debt	415.26M	742.48M	782.38M	2.56B	3.27B	2.32B
Total Liabilities	862.14M	1.37B	1.59B	3.58B	4.84B	3.45B
Stockholders Equity	2.20B	1.99B	1.95B	2.79B	2.93B	2.39B
Cash Flow
Free Cash Flow	345.88M	61.98M	136.58M	939.79M	-801.31M	923.16M
Operating Cash Flow	367.49M	103.63M	434.33M	1.19B	-11.61M	1.14B
Investing Cash Flow	20.51M	-10.88M	1.79B	-238.39M	-762.28M	-166.29M
Financing Cash Flow	-358.35M	-230.52M	-2.08B	-942.19M	768.16M	-972.99M

Ginni Filaments Limited. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 41.64
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GINNIFILA, the sentiment is Neutral. The current price of 41.64 is above the 20-day moving average (MA) of 36.73, above the 50-day MA of 38.33, and below the 200-day MA of 42.91, indicating a neutral trend. The MACD of -0.72 indicates Negative momentum. The RSI at 52.51 is Neutral, neither overbought nor oversold. The STOCH value of 68.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:GINNIFILA.

Ginni Filaments Limited. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SADHNANIQ	63 Neutral	₹4.57B	-2.39	―	1.25%	-37.44%	-950.73%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
GINNIFILA	57 Neutral	₹3.12B	9.81	―	―	-18.38%	―
RAMAPHO	57 Neutral	₹3.95B	10.12	―	0.46%	22.68%	―
VARDHACRLC	56 Neutral	₹2.62B	10.89	―	4.02%	―	―
KANORICHEM	45 Neutral	₹2.65B	23.83	―	―	-1.30%	-27.85%
DIAMINESQ	43 Neutral	₹2.11B	-19.09	―	0.38%	―	―

Ginni Filaments Limited. Corporate Events

Ginni Filaments Reports Nil Activity in Special Window for Physical Share Transfers

Ginni Filaments Limited has disclosed that its registrar and share transfer agent, Skyline Financial Services, has submitted a monthly report on the special window for re-lodgement, transfer and dematerialisation of physical shares for the period from 5 February 2026 to 9 March 2026. The report, filed in line with a recent SEBI circular aimed at easing investment in physical securities, shows that no transfer or dematerialisation requests were received, processed, approved or rejected during the period, indicating minimal investor activity in this specific window for the company.

The company has informed both the National Stock Exchange of India and BSE that this compliance information has been placed on record and hosted on its website. The absence of transactions under the special window suggests that most shareholders may already be operating in dematerialised form or are not currently utilising this channel, underscoring the continuing shift away from physical share certificates in India’s equity markets.