Borana Weaves Ltd(BORANA)

NSE: BORANABSE: 544404

₹ 209.7-3.30%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 559 crWebsite: www.boranagroup.inUpdated: 24 Oct 2026

About

Borana Weaves Ltd is one of India's leading producers of high-quality microfilament woven fabrics, serving apparel, home textiles, and tent fabric end-uses through four integrated manufacturing units in Surat, Gujarat. In FY26 the company recorded total revenue of Rs. 38,859.31 lakhs and net profit after tax of Rs. 6,461.20 lakhs. All revenue is domestic; the company has grown production capacity 7x between 2021 and 2026 and holds a BWR BBB/Stable credit rating from Brickwork Ratings.^[1][2]

Products

Borana produces microfilament woven fabrics for apparel, home textiles, and tent fabrics through integrated operations spanning POY-to-PTY texturising, warping, sizing, and weaving.^[1]
Greige (grey) fabric is the dominant product, contributing 92% of FY26 revenue; polyester textured yarn contributed the remaining 8%.^[3]
99% of fabric is enabled by in-house texturising and twisting of POY raw material.^[1]
The company plans to expand into technical textiles, targeting buyers who coat fabric for industrial end-uses, using existing machines without dedicated capex.^[4]

Manufacturing operations

All four manufacturing units are located at Hojiwala Industrial Estate, SUSML, Sachin, Surat, Gujarat.^[1]
Annual fabric production capability is 398 million metres as of FY26.^[1]
Total installed capacity was 33,95,52,000 metres as of Q2 FY26.^[5]
Production capacity grew 7x between 2021 and 2026.^[1]
The manufacturing platform comprises 1,212 high-speed water-jet looms as of Q1 FY27, up from 700 looms across Units 1 - 3.^[3]

Key operating numbers

Blended capacity utilisation was 82 - 83% in Q3 FY26, approaching management's stated ceiling of ~90%.^[4]
Fabric production volume was 6.6 crore metres in Q3 FY26 and 16.31 crore metres across 9M FY26.^[4]
Per-metre greige fabric realisation rose to ~₹16.90 in Q3 FY26 from ₹15.80 in FY25.^[4]
Grey fabric sales grew from Rs. 25,158.04 lakhs in FY25 to Rs. 35,341.49 lakhs in FY26; yarn sales fell from Rs. 3,355.35 lakhs to Rs. 1,773.08 lakhs.^[1]
Value-added product share was 20 - 25% of revenue in Q3 FY26.^[4]
Unit 1 capacity utilisation was 77.45% and Unit 3 was 83.82% in H1 FY26; Unit 4 was 47.47% in H1 FY26 (only 2 months of operation).^[5]

Customers and distribution

Repeat orders account for 98% of business as of FY26.^[1]
All revenue is domestic; export revenue was nil in FY26.^[1]
The company states a near-term priority to build export optionality as part of product mix advancement.^[3]

Expansion and capex

Unit 4 expansion adds 192 water-jet looms and 3 texturising machines, targeting commercial production in December 2026.^[3]
Total investment for the capacity doubling programme (to 2,000 looms by March 2028) is ₹350 - 400 crore: ₹200 crore capex, ₹50 - 70 crore working capital, and renewables; funded via internal accruals and debt with no equity dilution.^[4]
Interim loom target is 1,500 looms by end of FY27 and 2,000 looms by March 2028.^[4]
3.55 MW rooftop solar is operational as of Q1 FY27; a 19.79 MW hybrid solar-wind project is targeted for commissioning during 2026, taking total renewable capacity to ~23.30 MW.^[3]
Once both renewable projects are fully operational, they are expected to cover 70 - 80% of power requirements and save ₹18 - 20 crore annually.^[4]
FY26 investing outflow was ₹178.69 crore against operating cash inflow of ₹36.96 crore, funded by ₹143.37 crore financing inflows.^[3]

Recent developments

As of 30 Sep 2026, the 9.9 MW hybrid power project in Kalikanagar, Gujarat faces a further delay: solar component expected by end-October 2026, and the two wind turbine generators by end-November and end-December 2026 respectively.^[6]
In December 2025, the government removed the BIS-certificate requirement for Chinese POY/PTY imports, widening raw material sourcing options.^[4]
The company converted from private limited to public limited company with effect from 24 September 2024.^[7]
New statutory auditors M/s KSA & Co. were appointed for five years from the 5th AGM to the 9th AGM in 2030.^[7]
Debt-equity ratio improved from 0.67 to 0.25 in FY26, and interest coverage improved from 3.96x to 6.42x, following IPO proceeds and equity buildup.^[1]
No dividend was recommended for FY26; profits are being retained for future growth plans.^[1]
812 permanent employees were on the rolls as on 31 March 2026.^[1]

Market Cap

₹559 Cr

High / Low

₹419 / 209

Stock P/E

8.1

Price / Book

2.0

Book Value

₹106

EPS

₹24.3

No. of Shares

2.66 Cr

ROCE

32.8%

ROE

35.0%

OPM

20.6%

Debt / Equity

0.25

Sales

₹389 Cr

Net Profit

₹65 Cr

Promoter holding

65.2%

Loading chart…

Signal history

AI Deep Dive

The analysis Screener can't give you

Our models read the latest earnings call, annual report, and financials end-to-end - then grade management, value the business, and flag the risks. Unlock all of it for this company:

Verdict
The headline call - descriptive label, conviction, and the synthesis behind it.
Valuation
Guidance-anchored P&L bridge - worst / average / best multiple cases.
Walk the talk
Did management deliver on past guidance? A commitment-by-commitment scorecard.
Red flags
Forensic and governance risk pointers, severity-ranked.
Balance sheet
Solvency and earnings-quality score.
Concall briefs
Quarter-by-quarter earnings-call briefs - what changed and why.

₹49 unlocks this company for 90 days, ₹299 for a full year - bundles bring it lower. Built on public disclosures - educational, not investment advice.

AI Deep Dive

Verdict

Locked

The headline call - descriptive label, conviction, and the synthesis behind it.

Company data

Financials