Manomay Tex India Ltd. (MANOMAY) AI Stock Analysis

• Market Cap: ₹4.05B
• Dividend Yield: N/A
• Average Volume (3M): 5.50K
• Price to Earnings (P/E): 20.9
• Beta (1Y): 0.04
• Revenue Growth: 8.41%
• EPS Growth: 8.81%
• Country: IN
• Employees: 747
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Manufacturing - Textiles
• EPS (TTM): 3.09
• Shares Outstanding: 18,048,735
• 10 Day Avg. Volume: 6,034
• 30 Day Avg. Volume: 5,501
• PEG Ratio: 0.32
• Price to Book (P/B): 2.01
• Price to Sales (P/S): 0.43
• P/FCF Ratio: -17.65
• 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: 69 Neutral
• Price Target: ₹245.00 ▲(28.74% Upside)

Manomay Tex India Ltd. benefits from strong financial performance and bullish technical indicators. However, the overbought technical signals and lack of dividend yield present potential risks. Addressing cash flow challenges is crucial for sustaining growth.

Positive Factors

Sustained Revenue Growth

Manomay's revenue more than doubled from 2021 to 2025, indicating durable top-line expansion. Sustained scale improves unit economics, strengthens supplier negotiation, and provides a base to fund capex and product investment, supporting growth over the next 2-6 months.

Improved Gross Profit Margins

Significant gross margin improvement reflects lasting operational improvements and better cost control. If maintained, higher gross margins create durable earnings leverage, boost cash conversion per unit of revenue, and enhance the firm's ability to invest in productivity and competitive positioning.

Prudent Leverage and ROE Trends

A moderate debt-to-equity position combined with rising ROE suggests prudent use of leverage and efficient capital deployment. This balance supports growth funding without excessive risk, preserves access to capital markets and strengthens resilience across business cycles in the medium term.

Negative Factors

Rising Total Liabilities

Growing total liabilities elevate refinancing and interest exposure and can strain liquidity if earnings don't keep pace. Over a multi-month horizon continued liability growth can limit strategic flexibility, increase covenant risk and amplify vulnerability to cost or demand shocks.

Negative Free Cash Flow

Persistent negative free cash flow despite positive operating cash generation indicates capex or other outflows exceed cash available for debt paydown or investment. This dynamic may force external financing, constrain dividends, or limit reinvestment capacity, weakening long-term financial flexibility.

Low Net Profit Margin

A relatively low net margin reduces the firm's earnings buffer against cyclical revenue dips and rising input costs. Even with better gross margins, weak net profitability limits retained earnings for reinvestment and undermines resilience and capacity to sustain long-term competitive initiatives.

Manomay Tex India Ltd. Business Overview & Revenue Model

Company Description

Manomay Tex India Ltd. engages in the provision of textile business. It engages in the manufacture and sales of ready to stitch fabrics which involves winding of yarn, and weaving, as well as dispatch of garment. The company was founded by Kailashchandra Hiralal Laddh in 1978 and is headquartered in Bhilwara, India.

How the Company Makes Money

Manomay Tex India Ltd. generates revenue primarily through the sale of its textile products, which include garments, fabrics, and home textiles. The company's revenue model is built on multiple key streams: direct sales to wholesalers and retailers, export of products to international markets, and partnerships with fashion brands that require high-quality textiles for their collections. Additionally, MANOMAY may benefit from long-term contracts with major clients, providing a stable income base. The company also focuses on value-added services such as custom designs and sustainable textile solutions, which can attract premium pricing and enhance profitability. Strategic partnerships with suppliers and distribution networks further strengthen its market presence and contribute to steady revenue growth.

Manomay Tex India Ltd. Financial Statement Overview

Summary

Manomay Tex India Ltd. shows strong revenue growth and improved operational efficiencies, enhancing profitability margins. However, the balance sheet's increasing liabilities and negative free cash flow highlight potential financial risks.

Income Statement

Manomay Tex India Ltd. has demonstrated strong revenue growth, increasing from INR 3,170,895,000 in 2021 to INR 6,969,173,000 in 2025. The gross profit margin improved significantly, reflecting better cost management and operational efficiency. However, the net profit margin is relatively low, indicating potential challenges in managing expenses or rising costs. The EBIT margin shows improvement over the years, suggesting enhanced core earnings capacity.

Balance Sheet

The company has a moderate debt-to-equity ratio, which indicates a balanced approach to leveraging. The equity ratio is satisfactory, but there is room for improvement to enhance financial stability. The return on equity has shown positive trends, reflecting efficient use of shareholder funds. However, the increase in total liabilities over the years may pose risks if not managed effectively.

Cash Flow

Operating cash flow has been positive, but free cash flow has been negative in recent years, indicating potential challenges in covering capital expenditures and financing activities. The operating cash flow to net income ratio suggests that the company efficiently converts its net income into cash, but the negative free cash flow requires attention to ensure long-term sustainability.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	7.05B	6.97B	5.83B	6.64B	5.70B	3.17B
Gross Profit	2.99B	2.93B	745.50M	2.42B	474.23M	379.78M
EBITDA	882.73M	855.88M	498.29M	421.75M	297.62M	176.33M
Net Income	185.93M	192.53M	130.03M	129.50M	77.06M	27.55M
Balance Sheet
Total Assets	0.00	6.18B	5.84B	3.93B	3.09B	2.15B
Cash, Cash Equivalents and Short-Term Investments	19.49M	19.49M	207.19M	240.44M	26.47M	48.71M
Total Debt	0.00	3.29B	3.00B	1.45B	1.42B	938.09M
Total Liabilities	-1.48B	4.70B	4.55B	2.77B	2.40B	1.53B
Stockholders Equity	1.48B	1.48B	1.29B	1.16B	678.41M	614.24M
Cash Flow
Free Cash Flow	0.00	-168.86M	-1.41B	-36.16M	-167.16M	-23.10M
Operating Cash Flow	0.00	41.55M	128.13M	116.91M	138.37M	-10.73M
Investing Cash Flow	0.00	-32.05M	-1.63B	-229.39M	-287.94M	-12.49M
Financing Cash Flow	0.00	-17.79M	1.38B	250.18M	390.23M	24.18M

Manomay Tex India Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 190.30
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MANOMAY, the sentiment is Positive. The current price of 190.3 is below the 20-day moving average (MA) of 216.49, below the 50-day MA of 220.80, and above the 200-day MA of 188.59, indicating a bullish trend. The MACD of 3.36 indicates Negative momentum. The RSI at 56.22 is Neutral, neither overbought nor oversold. The STOCH value of 57.31 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MANOMAY.

Manomay Tex India Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LAMBODHARA	69 Neutral	₹1.15B	14.26	―	0.42%	13.13%	-2.13%
MANOMAY	69 Neutral	₹4.05B	20.91	―	―	8.41%	8.81%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
LOYALTEX	49 Neutral	₹997.25M	-6.56	―	―	-30.97%	80.99%
MARALOVER	47 Neutral	₹1.60B	-6.14	―	―	-0.90%	-304.07%
SHRENIK	38 Underperform	₹238.68M	150.00	―	―	-3.26%	―

Manomay Tex India Ltd. Corporate Events

Manomay Tex India Secures Rs. 60 Crore Export Orders

Manomay Tex India Ltd. has secured new export orders valued at approximately Rs. 60 crores for the production of spinning yarn and denim fabric. These orders have been placed by international clients from Latin America, China, and Bangladesh, and are expected to be fulfilled by August 30, 2026. This development is poised to enhance the company’s market presence and operational scale in the international textile market.