Manomay Tex India Ltd. (MANOMAY) AI Stock Analysis

• Market Cap: ₹3.75B
• Dividend Yield: N/A
• Average Volume (3M): 5.50K
• Price to Earnings (P/E): 19.6
• Beta (1Y): 0.15
• Revenue Growth: 8.41%
• EPS Growth: 8.81%
• Country: IN
• Employees: 747
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Manufacturing - Textiles
• EPS (TTM): 2.56
• 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: ₹228.00 ▲(19.81% Upside)
• Action: Reiterated Date: 11/28/25
• Date: Action: Reiterated 11/28/25

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 (2021-2025)

Revenue more than doubled from 2021 to 2025, indicating durable top-line expansion and scale. Over a multi-year horizon this supports better fixed-cost absorption, a deeper customer base and stronger bargaining power with suppliers, underpinning sustainable cash generation.

Improving gross and EBIT margins

Improving gross and EBIT margins point to lasting operational efficiency gains and better cost control. Sustained margin improvement increases resilience to input-cost swings, boosts core earnings power, and creates room for reinvestment in product or capacity expansion over the medium term.

Moderate leverage and improving ROE trends

A moderate debt-to-equity ratio and satisfactory equity ratio indicate a balanced capital structure that supports growth without excessive financial strain. Positive ROE trends reflect efficient use of shareholder capital, helping sustain investment capacity and credibility with lenders over time.

Negative Factors

Negative free cash flow

Persistent negative free cash flow signals the business may not be generating surplus cash after capex, forcing reliance on financing or equity to fund growth. Over months this constrains discretionary spending, raises refinancing risk and limits ability to build reserves or pay dividends.

Rising total liabilities

An upward trend in total liabilities increases leverage and interest exposure, reducing financial flexibility. If liabilities rise faster than earnings, refinancing and covenant risk grow, which can force deleveraging or costlier funding and undermine long-term strategic initiatives.

Low net profit margin and EPS decline

A relatively low net margin combined with a ~10% EPS decline suggests earnings quality and bottom-line resilience are weak. This limits internal funding for capex and working capital, increases vulnerability to sales shocks, and requires management action to restore sustainable profitability.

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

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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	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	6.95B	6.97B	5.83B	6.64B	5.70B	3.17B
Gross Profit	2.79B	2.93B	745.50M	2.42B	474.23M	379.78M
EBITDA	874.24M	855.88M	498.29M	421.75M	297.62M	176.33M
Net Income	193.73M	192.53M	130.03M	129.50M	77.06M	27.55M
Balance Sheet
Total Assets	6.49B	6.18B	5.84B	3.93B	3.09B	2.15B
Cash, Cash Equivalents and Short-Term Investments	15.75M	19.49M	207.19M	240.44M	26.47M	48.71M
Total Debt	3.70B	3.29B	3.00B	1.45B	1.42B	938.09M
Total Liabilities	4.91B	4.70B	4.55B	2.77B	2.40B	1.53B
Stockholders Equity	1.58B	1.48B	1.29B	1.16B	678.41M	614.24M
Cash Flow
Free Cash Flow	-268.58M	-168.86M	-1.41B	-36.16M	-167.16M	-23.10M
Operating Cash Flow	-171.75M	41.55M	128.13M	116.91M	138.37M	-10.73M
Investing Cash Flow	-92.16M	-32.05M	-1.63B	-229.39M	-287.94M	-12.49M
Financing Cash Flow	264.85M	-17.79M	1.38B	250.18M	390.23M	24.18M

Manomay Tex India Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 190.30
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• 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 Negative. The current price of 190.3 is below the 20-day moving average (MA) of 220.72, below the 50-day MA of 220.51, and below the 200-day MA of 196.14, indicating a neutral trend. The MACD of -2.58 indicates Positive momentum. The RSI at 40.56 is Neutral, neither overbought nor oversold. The STOCH value of 24.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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
MANOMAY	69 Neutral	₹3.75B	19.63	―	―	8.41%	8.81%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
LAMBODHARA	62 Neutral	₹1.02B	13.04	―	0.42%	13.13%	-2.13%
LOYALTEX	56 Neutral	₹953.17M	-1.31	―	―	-30.97%	80.99%
MARALOVER	47 Neutral	₹1.71B	8.66	―	―	-0.90%	-304.07%
SHRENIK	38 Underperform	₹250.92M	6.72	―	―	-3.26%	―

Manomay Tex India Ltd. Corporate Events

Manomay Tex India clears Q3 FY26 unaudited results, reopens trading window

The board approved unaudited results for the quarter and nine months ended December 31, 2025, alongside the statutory limited review, confirming revenue of ₹17,690 lakh for the quarter and ₹50,735 lakh for the nine-month period, while net profit stood at ₹463 lakh and ₹1,464 lakh respectively. Management also reopened the trading window effective February 7, 2026, signaling compliance with insider-trading norms and providing clarity for investors following the review cycle.