Faze Three Ltd(FAZE3Q)

NSE: FAZE3QBSE: 530079

₹ 410-5.17%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 1,009 crWebsite: www.fazethree.comUpdated: 24 Oct 2026

About

Faze Three Ltd manufactures home textiles in a single business segment and exports over 90% of its revenue, with the USA its largest market. It reported FY26 revenue of 923.07 Cr. Its plants at Silvassa and Panipat, plus the Mats and More unit, have an installed revenue capacity of INR 1,650+ Cr, which ran at 55-60% utilisation in Q1 FY27.^{[1][2][3][4][5]}

Business segments and markets

The company reports one segment, manufacturing of home textiles, with total revenue of 689.94 Cr in FY25 vs 564.52 Cr in FY24.^[1]
Revenue by geography in FY25 (vs FY24): USA 379.70 Cr (271.44), India 101.93 Cr (122.82), Europe 86.57 Cr (46.55), rest of the world 77.00 Cr (23.54), UK 44.73 Cr (100.17).^[1]
The USA's share of total income was 65% in 9M FY26 vs 60% in FY25.^[6]
Exports make up over 90% of revenue.^[2][5]

Plants and capacity

Silvassa plant: expansion completed in 2022, revenue capacity up to INR 500 Cr, utilisation ~60% in Q3 FY26 vs ~50% in Q2 FY26.^[6][4]
Panipat plant: revenue capacity INR 550 Cr, utilisation ~45% in Q2 FY26 and ~50% in Q3 FY26.^[4][6]
TOB/Blankets: revenue capacity INR 450 Cr, utilisation ~50% in Q2 FY26 and Q3 FY26.^[4][6]
Mats and More (patio mats): revenue capacity INR 150 Cr, utilisation ~30% in Q1 FY27.^[4][2]
Average utilisation was 55-60% across INR 1,650+ Cr of installed capacity in Q1 FY27, vs ~55% in FY26.^[2][7]
The company has invested over INR 25 Cr in 3.5 MW of rooftop solar at Silvassa.^[1]

Key operating numbers

Cash conversion cycle: 90 days in Q1 FY27, vs 99 days in FY26 and 137 days in FY25.^[2][7]
Inventory days fell to 78 in FY26 from 112.^[7]
A higher share of CIF sales added roughly 7-8% to FY26 revenue growth of 33%.^[7]
In Q1 FY27, input costs rose sharply after the West Asia crisis, including cotton, polyester, chemicals, fuel, packaging and logistics.^[2]

Trade environment

US tariffs on India were 18% vs 35-44% on China after the US-India trade deal (Q3 FY26), following the 50% tariffs earlier in FY26.^[6]
Management says leading retailers are moving 15-20% of sourcing out of China over 2-3 years; EU and UK FTAs are in place (Q1 FY27).^[2]

Expansion and capex

About INR 75 Cr of capex is planned in FY27 to add new product capabilities by Q1 FY28; management says the capex cycle ends in FY27.^[2]
Over INR 270 Cr of capex has been funded from internal accruals since FY2019.^[1]
Management states Mats and More patio mats could reach USD 10 million in revenue within 3-4 years.^[1]
The company aims to double volumes roughly every four years.^[5]

Recent developments

PLI scheme approval was received on July 1, 2026 across multiple products, with benefits expected from April 2027 (FY28).^[2]
The FY26 annual report seeks shareholder approval to raise borrowing limits to ₹1,000 crore; the reference aggregate was ₹687.61 crore at 31 March 2026.^[8]
Mohit Solanki is being appointed Independent Director from 17 August 2026.^[8]
An interview with President Vishnu Anand was published by Dun & Bradstreet on September 29, 2026.^[5]

Market Cap

₹1,009 Cr

High / Low

₹655 / 325

Stock P/E

35.9

Price / Book

2.4

Book Value

₹186

EPS

₹13.8

No. of Shares

2.43 Cr

ROCE

9.3%

ROE

7.7%

OPM

6.6%

Debt / Equity

0.60

Sales

₹923 Cr

Net Profit

₹34 Cr

Promoter holding

57.4%

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