Company Overview

Mohit Industries Ltd. (formerly known as Mohit Fibres Pvt Ltd) was incorporated as a private company in February 1991 and was converted into a public company in February 1995. The company is primarily engaged in the manufacture of texturized yarn from POY and weaving of the yarn to grey cloth. The company was established in 1991 as a private limited company and specialized in trading yarn, eventually setting up a plant in the Gujarat district of Surat to manufacture weaving cloth with a capacity of 6 lac mtr pa.

The company was founded by Sitaram Nandlal Saboo and Narayan Sitaram Saboo on February 18, 1991, and is headquartered in Surat, India. In the main management, Narayan Sitaram Saboo is the Chairman and Company Secretary for Mohit Industries Ltd. The company has a promoter holding of 54.9%.

Business Operations and Products

Mohit Industries Limited is engaged in the manufacture of texturized yarn from partially oriented yarn (POY) and weaving of the yarn to grey cloth. The company engages in the manufacturing and marketing of textile products, with its product portfolio including texturized yarn, twisted yarn, grey cloth fabrics, and finished cloth fabrics.

The company manufactures all types of counts from a range of 50 to 300 depending on client requirements. Their grey cloth products include suiting, shirting, laser, georgette, hi-multi, satin georgette, american crepe, french crepe, gaberdin, black-out, BSY moss, BSY twill, blackberry, and nakab/dupatta.

The company's manufacturing capabilities have evolved significantly since inception. It set up a plant to manufacture weaving cloth in the Surat district of Gujarat with an installed capacity of 6 lac mtr pa. It also proposed to increase the capacity to manufacture fabrics from 6 lac mtr pa to 23.76 lac mtr pa, while also going for backward integration by setting up two texturising plants with a combined installed capacity of 1386 tpa.

Global Presence

The company exports its products to West and South East Asia, the United Kingdom, Italy, Spain, Germany, Mexico, Thailand, Peru, Bangladesh, South Africa, Egypt, Brazil, Colombia, Guatemala, Vietnam, Indonesia, Bulgaria, Uzbekistan, Chile, and other international markets. This extensive export network demonstrates the company's global reach in the textile manufacturing sector.

Financial Performance

The market cap of Mohit Industries Ltd. (MOHITIND) is ₹42.6 Crore as of 2024.

Recent Financial Results

- Q4 FY25 Performance: Revenue of ₹35.93 Cr and Net Profit of ₹0.46 Cr (as on March 2025).

- Q3 FY25 Performance: Net Loss of ₹0.57 Crore (ended December 2024) vs. Net Loss of ₹0.42 Crore (December 2023). Sales rose 0.14% to ₹29.58 Crore vs. ₹29.54 Crore in the previous year.

- Q2 FY25 Performance: Net Loss of ₹1.03 Crore (ended September 2024) vs. Net Loss of ₹0.95 Crore (September 2023).

- Q1 FY25 Performance: Net Loss of ₹0.41 Crore (ended June 2024) vs. Net Loss of ₹0.66 Crore (June 2023). Sales declined 42.38% to ₹21.18 Crore vs. ₹36.76 Crore in the previous year.

Key Financial Metrics

- Annual Revenue: ₹112 Crore

- Annual Profit: -₹2.43 Crore

- PE Ratio: -17.61

- PB Ratio: 0.24

- Market Capitalization: ₹42.6 Crore (as of 2024)

- Promoter Holding: 54.9%

Stock Performance and Trading Information

Price Performance

- 52-Week High: ₹52.05

- 52-Week Low: ₹18.30

- All-Time High: ₹88.40 (June 28, 2016)

- All-Time Low: ₹2.85 (May 7, 2020)

Trading Details

- Exchange Listings: NSE / BSE

- Stock Symbol/Scrip Code: MOHITIND (NSE) / 531453 (BSE)

- Listing Date: March 14, 2013

- Beta Coefficient: 0.87

- Volatility: 3.15%

Industry Position and Challenges

The peers of Mohit Industries Ltd. include Trident Ltd., Vardhman Textiles Ltd., Welspun Living Ltd., Alok Industries Ltd., Arvind Ltd., Garware Technical Fibres Ltd., and Jindal Worldwide Ltd.

The company faces several operational challenges:

- Poor sales growth of -8.44% over the past five years.

- Low return on equity of -0.95% over the last 3 years.

- Low interest coverage ratio.

Recent Corporate Actions and Compliance

The company was fined ₹4.95 lakh each by NSE and BSE for non-compliance in Q4 FY25. The company held a board meeting on February 11, 2025, to consider and approve standalone and consolidated unaudited financial results for the quarter and nine months ended December 31, 2024.

Despite facing challenges in profitability and growth, Mohit Industries continues its operations in the competitive textile sector with a focus on manufacturing quality textile products for both domestic and international markets. The company's established manufacturing base in Gujarat and diversified product portfolio position it within India's textile manufacturing landscape.