---
title: "Rainbow Denim Ltd (532441) — Share Price, Financials & Analysis"
symbol: "532441"
company: "Rainbow Denim Ltd"
canonical: "https://tapetide.com/stocks/532441"
isin: "INE820D01025"
bse_code: "532441"
sector: "Consumer Discretionary"
industry: "Textiles & Apparels"
generated_at: "2026-09-13T21:13:46.184Z"
---

# Rainbow Denim Ltd (532441)

Canonical page: https://tapetide.com/stocks/532441

## Company

- **BSE Code:** 532441
- **ISIN:** INE820D01025
- **Sector:** Consumer Discretionary
- **Industry:** Textiles & Apparels
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2006-03-01
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** rainbowdenims.com

## About

Incorporated in 1999, Rainbow Denim Limited is engaged in the manufacturing of denim fabrics.

## Latest Price

- **Price:** ₹3.44
- **Change:** +0.2 (+6.17%)
- **Open:** ₹3.44
- **Day High:** ₹3.44
- **Day Low:** ₹3.16
- **Previous Close:** ₹3.24
- **Volume:** 14190
- **As Of:** 2023-05-22T03:57:31+00:00

## Key Insights

### Strengths

- Stock is trading at 0.07 times its book value
- Company is expected to give good quarter
- Company has delivered good profit growth of 38.7% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 38.3%
- Debtor days have improved from 152 to 77.8 days.

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Tax rate seems low
- Company might be capitalizing the interest cost

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 22% | 134% | 39% |
| revenue growth | 44% | — | 258% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Dec 2021 | Mar 2022 | Dec 2023 | Mar 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0.28 | 0.18 | 2.91 | 12.02 | 30.2 | 36.21 | 66.47 | 68.07 | 68.92 | 65.08 | 68.47 | 87.18 |
| Expenses | 0.41 | 0.74 | 2.15 | 9.32 | 26.98 | 32.39 | 54.43 | 58.38 | 60.76 | 54.57 | 62.32 | 75.54 |
| Operating Profit | -0.13 | -0.56 | 0.76 | 2.7 | 3.22 | 3.82 | 12.04 | 9.69 | 8.16 | 10.51 | 6.15 | 11.64 |
| OPM % | -46.43 | -311.11 | 26.12 | 22.46 | 10.66 | 10.55 | 18.11 | 14.24 | 11.84 | 16.15 | 8.98 | 13.35 |
| Other Income | 2.6 | 2.67 | 0.18 | 0.07 | 0 | 0 | 0.44 | 0.03 | -0.02 | 0.1 | 1.46 | 0.07 |
| Interest | 2.5 | 2.45 | 0.12 | 0.12 | 1.32 | 1.39 | 2.52 | 2.61 | 2.43 | 2.99 | 2.05 | 3.88 |
| Depreciation | 0.27 | 0.26 | 0.56 | 0.56 | 0.28 | 0.28 | 0.88 | 0.54 | 0.54 | 0.8 | 0.7 | 1.01 |
| Profit before tax | -0.3 | -0.6 | 0.26 | 2.09 | 1.62 | 2.15 | 9.08 | 6.57 | 5.17 | 6.82 | 4.86 | 6.82 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -0.3 | -0.61 | 0.27 | 2.09 | 1.62 | 2.15 | 9.08 | 6.57 | 5.17 | 6.82 | 4.87 | 6.81 |
| EPS in Rs | -0.23 | -0.46 | 0.2 | 1.57 | 1.22 | 1.62 | 6.84 | 4.95 | 3.89 | 5.13 | 3.67 | 5.13 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 146 | 70 | 5 | 0 | 1 | 0 | 15 | 164 | 271 | 290 |
| Expenses | 160 | 92 | 20 | 7 | 2 | 1 | 11 | 143 | 236 | 253 |
| Operating Profit | -14 | -22 | -15 | -6 | -2 | -1 | 3 | 22 | 35 | 36 |
| OPM % | -9 | -32 | -283 | -1413 | -211 | -1750 | 23 | 13 | 13 | 13 |
| Other Income | 25 | 25 | 12 | 11 | 11 | 7 | 0 | 0 | 2 | 2 |
| Interest | 14 | 12 | 11 | 11 | 10 | 7 | 0 | 6 | 10 | 11 |
| Depreciation | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 2 | 3 | 3 |
| Profit before tax | -5 | -11 | -16 | -7 | -2 | -2 | 2 | 14 | 23 | 24 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Net Profit | -5 | -11 | -16 | -7 | -2 | -2 | 2 | 14 | 23 | 24 |
| EPS in Rs | -3.85 | -8.53 | -12.17 | -5.62 | -1.69 | -1.64 | 1.78 | 10.5 | 17.63 | 17.82 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 13 | 13 | 13 | 13 | 13 | 13 | — | 13 | 13 | 13 |
| Reserves | -135 | -141 | -152 | -167 | -175 | -177 | — | 10 | 24 | 48 |
| Borrowings | 99 | 113 | 105 | 118 | 128 | 139 | — | 70 | 116 | 206 |
| Other Liabilities | 114 | 108 | 87 | 70 | 63 | 54 | — | 5 | 12 | 17 |
| Total Liabilities | 91 | 94 | 53 | 34 | 30 | 29 | — | 99 | 165 | 284 |
| Fixed Assets | 33 | 29 | 26 | 24 | 23 | 22 | — | 55 | 67 | 89 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | — | 4 | 10 | 46 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | — | 0 | 0 | 1 |
| Other Assets | 58 | 64 | 27 | 10 | 7 | 7 | — | 40 | 88 | 148 |
| Total Assets | 91 | 94 | 53 | 34 | 30 | 29 | — | 99 | 165 | 284 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 9 | -16 | 4 | -2 | 0 | 0 | 4 | -76 | -18 | -22 |
| Cash from Investing Activity | -1 | 15 | 16 | 1 | 0 | 0 | 0 | -10 | -19 | -61 |
| Cash from Financing Activity | -8 | 1 | -21 | 2 | 0 | 0 | 0 | 82 | 39 | 79 |
| Net Cash Flow | 0 | -1 | 0 | 0 | 0 | 0 | 4 | -4 | 2 | -3 |
| Free Cash Flow | 9 | -2 | 19 | -2 | 0 | 0 | 4 | -85 | -38 | -81 |
| CFO/OP | -174 | 118 | -19 | 15 | 6 | 2 | -314 | -2208 | -82 | -62 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 77 | 101 | 62 | 115 | 1032 | 624 | — | 297 | 81 | 78 |
| Inventory Days | 48 | 59 | 79 | 302 | 508 | 1624 | — | 530 | 112 | 126 |
| Days Payable | 166 | 207 | 342 | 2306 | 6678 | 26354 | — | 169 | 27 | 23 |
| Cash Conversion Cycle | -41 | -46 | -201 | -1888 | -5139 | -24106 | — | 658 | 166 | 180 |
| Working Capital Days | -161 | -164 | -455 | -7340 | -105009 | -73038 | — | 50 | -1 | 1 |
| ROCE % | 20 | — | — | — | — | — | — | — | 16 | 16 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Promoters | 71.02% | 72.64% | 72.64% | 72.64% | 72.64% | 72.38% |
| DIIs | 4.7% | 4.7% | 4.7% | 4.7% | 4.7% | 4.7% |
| Public | 24.28% | 22.66% | 22.66% | 22.66% | 22.66% | 22.92% |
| No. of Shareholders | 14589 | 14181 | 14066 | 14076 | 13997 | 14882 |

### Quarterly

| Category | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 72.64% | 72.64% | 72.64% | 72.64% | 72.66% | 72.64% | 72.64% | 72.64% | 72.64% | 72.38% | 72.38% | 72.38% |
| DIIs | 4.7% | 4.7% | 4.73% | 4.7% | 4.7% | 4.7% | 4.7% | 4.7% | 4.7% | 4.7% | 4.7% | 4.7% |
| Public | 22.66% | 22.66% | 22.63% | 22.66% | 22.64% | 22.66% | 22.66% | 22.66% | 22.66% | 22.92% | 22.92% | 22.92% |
| No. of Shareholders | 14063 | 14064 | 14076 | 14076 | 14076 | 14062 | 14032 | 13997 | 13961 | 14035 | 14304 | 14882 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 5 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 3.64 | Sell |
| EMA (10) | 3.55 | Sell |
| SMA (20) | 3.65 | Sell |
| EMA (20) | 3.58 | Sell |
| SMA (50) | 3.56 | Sell |
| EMA (50) | 3.57 | Sell |
| SMA (100) | 3.56 | Sell |
| EMA (100) | 3.63 | Sell |
| SMA (200) | 3.75 | Sell |
| EMA (200) | 3.78 | Sell |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 45.18 | Neutral |
| MACD (12,26,9) | -0.01 | Sell |
| Stochastic (14,3,3) | 13.16 | Buy |
| ADX (14) | 16.39 | Neutral |
| Williams %R (14) | -69.57 | Neutral |
| ATR (14) | 0.25 | High Volatility |
| ROC (12) | -7.28 | Sell |
| Stoch RSI (14) | 29.18 | Neutral |
| UO (7,14,28) | 28.37 | Buy |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-08-15 | [Newspaper Publication Of Unaudited Financial Results For Quarter Ended June 30 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7556cad7-8290-436d-9286-cba9293d01bf.pdf) |
| 2026-08-14 | [Board Meeting Outcome for CONSIDERATION AND APPROVAL OF UN-AUDITED FINANCIAL RESULTS FOR QUARTER ENDED JUNE 30 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5a3d6af3-0b61-4912-adac-9d7a49bb34f3.pdf) |
| 2026-08-14 | [Results-Financial Results For Quarter Ended June 30 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5bc5bbbe-663c-418b-9d67-5e97a4171c25.pdf) |
| 2026-08-06 | [Board Meeting Intimation for The Meeting Of Board Of Directors Of The Company Scheduled To Be Held On Friday 14Th Day Of August 2026 For Consideration And Approval Of Unaudited Financial Results For Quarter Ended June 30 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5fd0e5a0-15ff-4295-8353-f1e9e30333a9.pdf) |
| 2026-06-30 | [Closure of Trading Window](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=161b06e1-1516-4963-b44f-ebbcf0eb850b.pdf) |
| 2026-06-09 | [Revised Financial Results For Year Ended March 31 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5430dfbe-a9d3-4c02-a1d9-c601fb6dfb97.pdf) |
| 2026-05-30 | [Board Meeting Outcome for Audited Results For Quarter And Year Ended 31St March 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=aae325ba-c9d4-4ff0-8481-d172bc0fe5eb.pdf) |
| 2026-05-30 | [Results- Financial Results For Year Ended March 31 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e1811b65-5647-40ea-893d-5a2b993e93a7.pdf) |
| 2026-05-27 | [Board Meeting Intimation for Meeting Of Board Of Directors Of The Company Is Scheduled To Be Held On Saturday May 30 2026 To Consider And Approve Audited Financial Results For Quarter And Year Ended March 31 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e7d6d69f-d1b7-4e94-8edd-70c0f42bca81.pdf) |
| 2026-03-30 | [Closure of Trading Window](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=580c9499-66d2-421e-8e8e-2e9f6b847109.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 9 Feb - Audio of Q3FY26 earnings call (Feb 9, 2026, 03:30 IST) for quarter/9M ended Dec 31, 2025 available. | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 9 Feb - Audio of Q3FY26 earnings call (Feb 9, 2026, 03:30 IST) for quarter/9M ended Dec 31, 2025 available.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e2004095-1630-4079-9885-ae4d50d6d145.pdf) |
| 5 Feb - Approved unaudited Q3 financial results for quarter ended December 31, 2025; limited review noted. | [Board Meeting Outcome for OUTCOME OF BOARD MEETING HELD ON TODAY THURSDAY 05TH DAY OF FEBRUARY 2026 5 Feb - Approved unaudited Q3 financial results for quarter ended December 31, 2025; limited review noted.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2e067318-3e80-473b-9460-835c6a383a91.pdf) |
| 30 Mar - Trading window closed from 01-Apr-2026 until 48 hours after audited results for quarter/year ended Mar 31, 2026. | [Closure of Trading Window 30 Mar - Trading window closed from 01-Apr-2026 until 48 hours after audited results for quarter/year ended Mar 31, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/580c9499-66d2-421e-8e8e-2e9f6b847109.pdf) |
| 26 Feb - Newspaper Advertisement regarding Notice of Postal ballot and e-voting | [Announcement under Regulation 30 (LODR)-Newspaper Publication 26 Feb - Newspaper Advertisement regarding Notice of Postal ballot and e-voting](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8f82a8d4-0b13-4308-935c-c360cd677719.pdf) |
| 2 Feb - Board meeting on 05-Feb-2026 to consider unaudited Q3 results for period ended 31-Dec-2025. | [Board Meeting Intimation for THE BOARD MEETING SCHEDULED TO BE HELD ON 05TH DAY OF FEB 2026 TO CONSIDER AND APPROVE UNAUDITED FINANCIAL RESULTS FOR QUARTER ENDED 31 DECEMBER 2025 2 Feb - Board meeting on 05-Feb-2026 to consider unaudited Q3 results for period ended 31-Dec-2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/eba180dc-0fc2-4460-8e4a-f145edba2123.pdf) |
| 17h - Of Schedule of Analyst / Institutional Investor meetings under the SEBI (LODR), Regulations 2015 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 17h - Of Schedule of Analyst / Institutional Investor meetings under the SEBI (LODR), Regulations 2015](https://www.bseindia.com/xml-data/corpfiling/AttachLive/569b8972-78a0-4bd7-9175-cbb828334ea5.pdf) |
| 17 Nov 2025 - Submitted newspaper clippings of unaudited Q2 and H1 results (Sep 30, 2025); board approved Nov 14; published Nov 16. | [INTIMATION OF NEWSPAPER PUBLISHMENT OF UNAUDITED FINANCIAL RESULTS FOR 02ND QUARTER AND HALF YEAR ENDED SEPTEMBER 30 2025 17 Nov 2025 - Submitted newspaper clippings of unaudited Q2 and H1 results (Sep 30, 2025); board approved Nov 14; published Nov 16.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6f0e93e7-cec1-40c1-82c2-d94e21d260a3.pdf) |
| 13 Feb - Transcript of the Investor / Analyst Earnings Call held on Monday, February 09, 2026 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript 13 Feb - Transcript of the Investor / Analyst Earnings Call held on Monday, February 09, 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a9dc355d-effd-4a1c-82d8-7ba4edbda1ec.pdf) |
| 13 Feb - CARE report for IPO Rs.792 crore; Q3 FY26 utilization in line; Rs.538.886 crore unutilized parked in FDs. | [Announcement under Regulation 30 (LODR)-Monitoring Agency Report 13 Feb - CARE report for IPO Rs.792 crore; Q3 FY26 utilization in line; Rs.538.886 crore unutilized parked in FDs.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d5bc53ea-dc89-4c25-a7d2-e27eef925522.pdf) |
| 11 Feb - Appointed developer for premium mixed-use redevelopment in Lokhandwala, Andheri (W); details to follow. | [Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 11 Feb - Appointed developer for premium mixed-use redevelopment in Lokhandwala, Andheri (W); details to follow.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/78648e18-80a8-4e5a-9c28-6bbd1dad3d45.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Sep 2025 | [Concall - Sep 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d8f10e4a-5dfc-43e1-a376-fbc288600af1.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3601b0f9-d55f-49e4-8828-919a0bbb8ad8.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e3164f1f-b3af-4c1b-9b9d-88fee8633c50.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/532441/71151532441.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/532441/66622532441.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/532441/5324410319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/532441/5324410318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/532441/5324410317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/532441/5324410316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/532441/5324410315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/532441/5324410314.pdf) |
| from bse | [Annual Report 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport/532441/5324410313.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T21:13:46.184Z.