Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 8 Oct
Source: Bse
Pashupati Cotspin Limited (PASHUPATI)
Small CapConsumer stocks · Small cap · NSE
Pashupati Cotspin Limited is primarily engaged in the cotton ginning and spinning business, operating out of Gujarat, India. The company recently migrated from the SME platform to the Main Board of NSE and BSE in July 2025 and adopted Ind AS for its FY26 financial reporting.
Data qualityFresh enough for analysisQuote updated 05 Nov, 05:54 pm ISTDetails
Quote05 Nov, 05:54 pm IST
Base fundamentals01 Nov 2026 · screener
Latest result06 Aug, 01:28 am IST
Score05 Nov, 04:30 am IST · v4.3-runtime-valuation
Tags03 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Consumer P/E 20.6 (n=454)
Technical timing lens
Trend score and candlestick chart
55NeutralSMA20 +30.5% / mo · MACD + · sector -5.3pp vs Nifty 500 (3M)
Stock trend: 70
Sector RS: 33
Sector 3M: -7.5% vs Nifty 500 -2.1%
Consumer FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
PASHUPATIW candles · FIT view+128.8%Latest close ₹120.47 on 2026-11-02
Bar
-14.4%
RSI
67
MACD hist
4.72
52W pos
60%
2026-11-02O ₹140.70H ₹155.49L ₹120.47C ₹120.47Vol 2.5Cr sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
PASHUPATINifty Consumer DurablesNifty 500
- PASHUPATI
- +42.3%
- Nifty 500
- -2.2%
- Nifty Consumer Durables
- -7.2%
- Vs Nifty 500
- +44.5 pp
Chart stats
5 Nov 2026- From 52W high
- -22.5%
- 52W range position
- 60%
- ATR (14)
- 6.5%
- Volume vs 20D
- 0.03x
- Avg traded value
- ₹52 Cr
- 20D price channel
- ₹67.5 - ₹155.5
₹155.5
₹67.5 - ₹155.5
₹7.9
Latest completed session
20-session average
79.3% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is weak.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · OVERVALUED29
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent80
Revenue +9.7% · PAT +277.6% YoY
Technical
Neutral55
Price trend and sector-relative-strength timing.
Valuation
Legacy model-288.9%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence70
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Excellent · 80/100Rev +10% YoY · PAT +278% YoY · margin expansion · operating leverage
Filed 05 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹130 Cr | +9.7% | -23.6% |
| EBITDA | ₹12.3 Cr | +170.0% | +77.6% |
| Operating margin | 9.5% | +563 bps | +541 bps |
| PAT | ₹7.3 Cr | +277.6% | +321.5% |
| PAT margin | 5.6% | +396 bps | +457 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 136.00
- P/B
- 12.98
- EV/EBITDA
- 51.72
- Market Cap
- 2125.00Cr
Profitability
- ROE
- 6.53%
- ROCE
- 9.99%
- ROA
- 5.21%
- Dividend Y
- 0.07%
Growth (CAGR)
- Revenue 5Y
- 77.00%
- EPS 5Y
- 77.00%
- Revenue 3Y
- 16.00%
- EPS 3Y
- 39.00%
Balance Sheet
- Debt/Equity
- 0.60
- Interest Coverage
- 3.09×
- Altman Z
- 9.51
- Book Value
- 10.40
Cash Flow
- FCF Yield
- 1.51%
- FCF Positive Y
- 4/5
- OCF
- 37.00 Cr
- EPS TTM
- 1.00
Shareholding
- Promoter Hold
- 65.99%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 99%
Financial History
Updated 5/11/2026
Revenue
₹ CrLatest: 688+8.0% vs prev
Net Profit
₹ CrLatest: 10.0-28.6% vs prev
Return on Equity
%Latest: 6.1-32.4% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Weekly technical trend read
Bullish setupTrend is constructive — long-term uptrend intact. RSI 67.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 rising (~4.7% over last month) — short-term momentum positive.
- RSI(14) at 67 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 23% off 52W high · 78% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
91
RS percentile
Stage 2 UptrendNew S2
1M return
+73.1%
3M return
+42.3%
6M return
+38.4%
1Y return
+49.0%
RS 1D
-3
RS 20D
+59
Sector rank
#10
Industry rank
#41
Stage evidence
- Price is 34.9% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +0.7%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
05 Nov 2026
S2 age
1 trading session
Sector
weakening
Industry
neutral
Relative-strength line vs Nifty 500 (base 100)
264 observations
05 Nov 2026Value 171.4-11.76%
RS vs Nifty 500171
Valuation & peers
U-Score 29 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 29 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation0/30
Growth11/25
Quality0/20
Balance Sheet7/15
Cash Flow7/10
Piotroski
7/9 (+5)
Penalties
-1
Raw sum
29
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
29/100 · legacy band OVERVALUED
Positive drivers
- Piotroski is strong at 7/9.
- Cash flow contributes 7/10 to the score.
- Balance sheet contributes 7/15 to the score.
Main drags
- Penalty bucket subtracts 1 points.
- Fair-value margin of safety is negative at -288.9%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
136.0
PB
13.0
EV/EBITDA
51.7
ROE
6.5%
ROCE
10.0%
FCF Yield
1.5%
Debt/Equity
0.6
MoS
-288.9%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 05 Nov 2026
v4.3-runtime-valuation
Final score
29
Previous: 29
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-288.9%
Previous: -331.1%
Score history
12 stored score snapshots. Latest stored move: +0 points.
05 Nov 2026
v4.3-runtime-valuation
33
33
33
33
33
33
33
33
29
29
29
29
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹15.3
-687.5% MoS
Growth-justified P/E
31.0
Growth-justified Value
₹30.98
-288.9% MoS
PEG
2.20
Comparable companies
Peers
Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
NAHARSPING
Small
Nahar Spinning Mills Limited
Textiles
match 87
51
6.2
1.2%
-100%
FAIR VALUE
AMBIKCO
Small
Ambika Cotton Mills Limited
Textiles
match 86
53
10.1
7.7%
-30%
FAIR VALUE
NITINSPIN
Small
Nitin Spinners Limited
Textiles
match 85
49
13.8
12.8%
+54%
FAIR VALUE
ABCOTS
Small
A B Cotspin India Limited
Textiles
match 85
36
25.3
9.8%
+17%
WATCHLIST
RAJPALAYAM
Small
Rajapalayam Mills Limited
Textiles
match 84
60
5.2
4.8%
+37%
UNDERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-10-27T07:41:20.945Z
Management commentary snapshot
Q4 FY26 consolidated revenue from operations reached Rs 17,026.85 lakhs with a net profit of Rs 172.07 lakhs, while full-year consolidated revenue stood at Rs 68,812.21 lakhs.
The investment thesis is under stress due to declining profitability YoY (consolidated net profit dropped from Rs 1,411.08 lakhs in FY25 to Rs 1,041.88 lakhs in FY26) alongside significant seasonal concentration and high borrowing levels, despite successful migration to the Main Board.
Growth engines
Main Board Listing
POSITIVEMigrated from the SME Platform of NSE to the Main Board of NSE and BSE effective July 17, 2025.
Headwinds
Seasonality of Operations
Cotton ginning business operates seasonally from October till April, creating natural fluctuations and non-comparability across quarters.
Risk radar
Elevated Debt Levels
NEGATIVEStandalone non-current borrowings stand at Rs 3,676.80 lakhs and current borrowings at Rs 5,418.95 lakhs as of March 31, 2026.
Regulatory Changes on Labour
Incremental impacts from the four newly notified Labour Codes have been recognized in FY26 results with ongoing monitoring required.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The company explicitly states that its cotton ginning business is seasonal, operating from October to April, rendering quarterly comparisons sequentially non-comparable.
Sector KPIs management disclosed
Revenue Growth
POSITIVEConsolidated revenue from operations increased to Rs 68,812.21 lakhs for FY26 compared to Rs 63,749.09 lakhs for FY25.
Input Cost Trends
NEGATIVEConsolidated cost of materials consumed increased to Rs 39,182.54 lakhs in FY26 from Rs 32,497.75 lakhs in FY25.
Management forward view
Adoption of Ind AS
Company adopted Ind AS effective April 1, 2025, restating prior periods with transition adjustments handled in opening reserves.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Consolidated Borrowings | Non-current Rs 3,676.80 lakhs, Current Rs 6,108.28 lakhs (FY26) | Deleveraging progress and interest cost coverage. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
70Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 62nd percentile of the scored universe and 66th percentile within Consumer. Main check: results consistency is weak at 48/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
5 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
62nd percentile
overall median 67 · Consumer: 66th pctile, median 66 · Small: 65th pctile, median 66
Evidence depth
Financial-only
5 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
73
acceptable · leverage and solvency
Discipline
60
acceptable · capital discipline
Results
48
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 66%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 2.5%.
- ▸4 years of positive FCF.
Trust risks
- ▸ROE is low at 6.5%.
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Pashupati Cotspin Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
AnnouncementAug 2026
Aug 2026 · Announcement Under Regulation 30(5)-Intimation Of Details Of KMP To Determine Materiality Of Events. 5 Aug - On August 5, 2026, board authorized three KMPs for materiality disclosures under Regulation 30(5).
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Change in Management 5 Aug - Tanvi Mafatlal Patel resigned; Kratika Soni appointed Company Secretary and Compliance Officer effective Aug 5, 2026.
Source: Bse
AnnouncementMay 2026
May 2026 · Announcement under Regulation 30 (LODR)-Change in Management 29 May - Board appointed cost auditor and internal auditor for FY2026-27 on May 29, 2026.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Bse
Investor presentationMar 2026
Mar 2026 · Revised Submission Of Audited Standalone And Consolidated Financial Results For The Quarter And Year Ended March 31, 2026 Under Regulation 33 Of SEBI (LODR) Regulations, 2015 30 May - Pashupati Cotspin resubmits revised audited FY26 standalone and consolidated results after presentation and casting corrections.
Source: Bse
Credit rating
Credit-rating report · Pashupati Cotspin Limited has informed the Exchange about Credit Rating
Source: Nse
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.