Rupa & Company Ltd(RUPA)

NSE: RUPABSE: 533552

₹ 117.85-3.36%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 937 crWebsite: www.rupa.co.inUpdated: 24 Oct 2026

About

Rupa & Company makes knitted apparel across innerwear, outerwear, athleisure, active wear, thermal wear, sleepwear and accessories for men, women, children and infants, in the Economy, Mid-Premium and Premium segments. It has more than 15 brands, including Frontline, Jon, Euro and Softline, and more than 9,000 SKUs. It reported revenue of Rs 1259.1 Cr in FY26. The company describes itself as one of India's most established and trusted knitwear brands.^[1][2]

Revenue mix

Revenue by gender in FY26: men 85%, women 11%, kids 4%.^[1]
Revenue by price segment in Q3 FY26: mid-premium around 55-58%, economy around 31-33%, premium around 10-11%.^[3]
Thermalwear contributed 13% of Q2 FY26 revenue, with volume growth of about 23-24% in that quarter.^[4]
Women's wear (Softline) was about 8% of revenue in Q1 FY27. Management said the segment has underperformed and is refreshing the brand and building a dedicated sales team.^[5]
Athleisure revenue fell 5-7% in Q1 FY27 compared with Q1 FY26, against a high base.^[5]

Products and brands

As of FY26 the company has more than 15 brands and more than 9,000 SKUs.^[1]
Brands listed in FY26 include Frontline, Jon, Colors, Euro, Bumchums, Footline, Softline and Macroworld.^[1]
The company launched the 'Peek-A-Boo' kidswear brand in 2024-25.^[1]
Brand ambassadors in FY25 included Ranveer Singh (Frontline), Ranbir Kapoor and Khesari Lal Yadav (Jon), Yash (Macroman M Series) and Wamiqa Gabbi (Softline).^[6]
As of FY25, the company held over 100 trademark registrations.^[6]
As of FY25, most procured materials are GOTS certified, and the company holds Oeko-Tex certification.^[6]

Manufacturing

As of FY26, manufacturing facilities are at Domjur (Kolkata), Ghaziabad (Delhi-NCR), Tirupur (Tamil Nadu) and Bengaluru (Karnataka).^[1]
Daily capacity in FY26: 3 tons/day yarn dyeing, 25 tons/day fabric dyeing and 25 tons/day knitting.^[1]
Daily capacity in FY26: 10 lakh pcs/day cutting, 1 lakh boxes/day stitching and 1 lakh boxes/day finished goods.^[1]
Utilisation of own manufacturing capacity averaged about 75% in H1 FY26.^[4]

Key operating numbers

Volume growth was about 10% in Q1 FY27, compared with 9% in Q4 FY26 and 4% for full-year FY26.^[5]
Gross margin was 37.4% in Q1 FY27, compared with 37.7% in Q1 FY26.^[5]
Advertising and promotion spend was 10.5% of revenue in Q1 FY27, compared with 5.5% for FY26.^[5]
A 4-5% price increase in Q1 FY27 was passed back to the trade as schemes. The new rate is expected to take effect from August 2026.^[5]
Trade discounts and schemes reached about 12% in Q3 FY26, up from about 8-9%.^[3]
Net working capital was Rs. 868 Cr in June 2026, compared with Rs. 854 Cr in March 2026 and Rs. 811 Cr in March 2025.^[5]
Working capital days were about 230 in 9M FY26, compared with 235 in H1 FY26.^[3]

Distribution and channels

As of FY26, the pan-India network has four central warehouses, more than 1,500 dealers and access to more than 2,00,000 retailers.^[1]
As of FY26, the company is present in more than 750 dark stores.^[1]
Sales by trade channel in FY26: domestic 92%, modern trade 3%, exports 3%, e-commerce 2%.^[1]
Modern trade including e-commerce was 5% of revenue in Q1 FY27, the same as its 5% share in FY26.^[5]
Sales by region in FY25: East 46%, North 27%, West & Central 12%, South 7%, North East 5%, Overseas 3%.^[6]
As of FY25, products are sold on Amazon, Flipkart, Myntra, Ajio and Tata CLiQ, and on the quick commerce platforms Swiggy, Zepto, Blinkit and Dmart Ready.^[6]

Exports

As of FY26, the company serves more than 20 countries.^[1]
Export revenue was Rs. 37 Cr in FY26, up from Rs. 31 Cr in FY25 (+19%), or 3% of FY26 revenue. Exports were 4% of revenue in Q1 FY27.^[7]
Focus export markets include the Middle East, Bangladesh, Africa and Russia (Q4 FY26).^[7]

Expansion plans

Management said in FY26 that it is focusing on the Mid-Premium and Premium categories, growing Athleisure and expanding distribution.^[1]
Plans announced in Q4 FY26 include doubling the store count in regional and value large-format stores in southern India, and launching on Amazon.com globally.^[7]
The company plans to build D2C sales across e-commerce platforms and a tech-based warehouse for a pure-play marketplace model (Q4 FY26).^[7]
A distributor management system is being rolled out state by state, with full presence expected within 1-2 years (Q1 FY27).^[5]
Routine capex for FY26 was guided at Rs 12-15 crores, with no major expansion planned.^[3]

Corporate structure and recent developments

Subsidiaries in FY26: Imoogi Fashions makes and sells premium women's hosiery and casual wear under the 'Femmora' brand, Oban Fashions trades yarn, and Euro Fashion Inners earns royalty for the 'EURO' brand.^[1]
In FY26 the ERP system was upgraded from SAP S/4HANA 2020 to SAP S/4HANA 2023.^[1]
An experienced Head of Sales joined around Q3 FY26. An e-commerce head and an EBO head were appointed in Q2 FY26.^[3]
CRISIL reaffirmed its AA-/Stable and A1+ ratings on facilities of Rs 365 crore on August 06, 2024.^[6]
The business began in 1968 as a hosiery venture in Kolkata founded by the three Agarwala brothers.^[1]

Market Cap

₹937 Cr

High / Low

₹205 / 110

Stock P/E

12.5

Price / Book

0.9

Book Value

₹134

EPS

₹9.1

No. of Shares

7.95 Cr

ROCE

9.6%

ROE

7.0%

OPM

9.6%

Debt / Equity

0.23

Sales

₹1,259 Cr

Net Profit

₹72 Cr

Promoter holding

73.3%

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