---
title: "E-Land Apparel Ltd (ELAND) — Share Price, Financials & Analysis"
symbol: "ELAND"
company: "E-Land Apparel Ltd"
canonical: "https://tapetide.com/stocks/ELAND"
bse_code: "532820"
sector: "Consumer Discretionary"
industry: "Textiles & Apparels"
generated_at: "2026-09-13T19:35:51.883Z"
---

# E-Land Apparel Ltd (ELAND)

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

## Company

- **BSE Code:** 532820
- **Sector:** Consumer Discretionary
- **Industry:** Textiles & Apparels
- **Macro Sector:** Consumer Discretionary
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** elandapparel.com

## About

Incorporated in 1997, E Land Apparels
 Ltd is in the business of manufacture 
and sale of garments[1]

## Latest Price

## Key Insights

### Weaknesses

- Company has low interest coverage ratio.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | — | -6% | 2% |
| revenue growth | -8% | 4% | 17% |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 37.05 | 38.27 | 76.54 | 85.19 | 44.39 | 67.25 | 103.56 | 72.71 | 33.75 | 65.99 | 88.55 | 75.6 |
| Expenses | 36.27 | 38.49 | 71.31 | 76.23 | 44.17 | 62.98 | 99.26 | 75.62 | 47.22 | 75.51 | 89.48 | 80.62 |
| Operating Profit | 0.78 | -0.22 | 5.23 | 8.96 | 0.22 | 4.27 | 4.3 | -2.91 | -13.47 | -9.52 | -0.93 | -5.02 |
| OPM % | 2.11 | -0.57 | 6.83 | 10.52 | 0.5 | 6.35 | 4.15 | -4 | -39.91 | -14.43 | -1.05 | -6.64 |
| Other Income | 2.38 | 2.12 | 2.05 | 2.61 | 2.06 | 2.34 | 2.94 | 2.13 | 2.37 | 2.63 | 1.89 | 2.5 |
| Interest | 12.95 | 14.22 | 13.84 | 6.37 | 1.22 | 1.85 | 2.41 | 2.15 | 5.05 | 2.69 | 4.88 | 3.35 |
| Depreciation | 0.86 | 1.9 | 1.38 | 1.34 | 1.39 | 1.63 | 1.22 | 2.13 | 3.29 | 2.9 | 3.02 | 3.06 |
| Profit before tax | -10.65 | -14.22 | -7.94 | 3.86 | -0.33 | 3.13 | 3.61 | -5.06 | -19.44 | -12.48 | -6.94 | -8.93 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | -93.91 | 0 | 0 | 0 | 48.85 | 0 |
| Net Profit | -10.65 | -14.22 | -7.95 | 3.86 | -0.33 | 3.13 | 7.01 | -5.07 | -19.44 | -12.48 | -10.33 | -8.93 |
| EPS in Rs | -2.22 | -2.96 | -1.66 | 0.8 | -0.07 | 0.65 | 1.46 | -1.06 | -4.05 | -2.6 | -2.15 | -1.86 |

### 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 | 184 | 172 | 149 | 121 | 178 | 230 | 215 | 300 | 261 | 264 |
| Expenses | 203 | 176 | 152 | 127 | 172 | 217 | 203 | 283 | 288 | 293 |
| Operating Profit | -20 | -4 | -3 | -5 | 5 | 14 | 12 | 18 | -27 | -29 |
| OPM % | -11 | -2.6 | -1.8 | -4.4 | 2.9 | 6 | 6 | 6 | -10 | -11 |
| Other Income | -34 | 4 | 3 | 3 | 17 | 2 | 7 | 10 | 9 | 9 |
| Interest | 22 | 39 | 48 | 47 | 47 | 51 | 54 | 12 | 15 | 16 |
| Depreciation | 2 | 2 | 4 | 4 | 4 | 5 | 5 | 6 | 11 | 12 |
| Profit before tax | -78 | -42 | -52 | -53 | -29 | -40 | -40 | 10 | -44 | -48 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -33 | 8 | — |
| Net Profit | -78 | -42 | -52 | -53 | -29 | -40 | -40 | 14 | -47 | -51 |
| EPS in Rs | -16.34 | -8.65 | -10.93 | -11.04 | -5.96 | -8.31 | -8.3 | 2.85 | -9.86 | -10.66 |
| 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 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 |
| Reserves | -146 | -283 | -354 | -407 | -459 | -467 | -506 | -547 | -533 | -580 |
| Borrowings | 128 | 10 | 35 | 54 | 60 | 50 | 50 | 63 | 84 | 188 |
| Other Liabilities | 125 | 336 | 387 | 424 | 473 | 530 | 564 | 613 | 631 | 647 |
| Total Liabilities | 155 | 112 | 115 | 119 | 122 | 161 | 155 | 177 | 231 | 303 |
| Fixed Assets | 46 | 44 | 42 | 51 | 48 | 89 | 85 | 98 | 116 | 165 |
| CWIP | 0 | 0 | 1 | 17 | 20 | 0 | 0 | 0 | 0 | 31 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 109 | 68 | 72 | 51 | 53 | 72 | 70 | 80 | 115 | 107 |
| Total Assets | 155 | 112 | 115 | 119 | 122 | 161 | 155 | 177 | 231 | 303 |

### 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 | 62 | 222 | 18 | 14 | 5 | 15 | 5 | 18 | 14 | 3 |
| Cash from Investing Activity | 9 | 17 | 10 | -18 | -4 | -3 | -1 | -6 | -6 | -38 |
| Cash from Financing Activity | -69 | -241 | -25 | -1 | 3 | -11 | 0 | -9 | -19 | 33 |
| Net Cash Flow | 2 | -1 | 3 | -4 | 4 | 1 | 4 | 2 | -11 | -2 |
| Free Cash Flow | 59 | 222 | 17 | -4 | 1 | 12 | 4 | 13 | 4 | -34 |
| CFO/OP | -144 | -1119 | -387 | -539 | -91 | 294 | 33 | 148 | 81 | -12 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 64 | 46 | 41 | 41 | 55 | 41 | 37 | 43 | 60 | 55 |
| Inventory Days | 81 | 72 | 63 | 74 | 90 | 84 | 49 | 62 | 76 | 82 |
| Days Payable | 110 | 117 | 116 | 98 | 159 | 123 | 89 | 57 | 63 | 68 |
| Cash Conversion Cycle | 34 | 0 | -12 | 17 | -14 | 1 | -3 | 47 | 73 | 69 |
| Working Capital Days | -14 | 23 | 26 | 22 | -8 | 2 | 26 | 28 | 11 | -103 |
| ROCE % | -54 | — | — | — | — | — | — | — | — | — |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 65.84% | 65.84% | 65.84% | 65.84% | 65.84% | 65.84% | 65.84% | 65.84% | 65.84% | 65.84% | 65.84% |
| DIIs | 1.24% | 1.24% | 1.24% | 1.24% | 1.24% | 1.24% | 0% | 1.24% | 0.53% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 1.24% | 0% | 0% | 0% | 0% |
| Public | 32.91% | 32.92% | 32.92% | 32.92% | 32.92% | 32.92% | 32.93% | 32.93% | 33.61% | 34.15% | 34.16% |
| No. of Shareholders | 15450 | 14320 | 13828 | 13327 | 12454 | 12366 | 12265 | 11859 | 11672 | 11145 | 11016 |

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 65.84% | 65.84% | 65.84% | 65.84% | 65.84% | 65.84% | 65.84% | 65.84% | 65.84% | 65.84% | 65.84% | 65.84% |
| DIIs | 1.24% | 1.24% | 1.24% | 1.24% | 1.24% | 1.24% | 0.53% | 0% | 0% | 0% | 0% | 0% |
| Public | 32.92% | 32.92% | 32.93% | 32.92% | 32.91% | 32.92% | 33.61% | 34.15% | 34.16% | 34.17% | 34.15% | 34.16% |
| No. of Shareholders | 11981 | 12051 | 11859 | 11850 | 11675 | 11597 | 11672 | 11408 | 11318 | 11284 | 11145 | 11016 |

## 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 / 6 / 11

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 11.85 | Sell |
| EMA (10) | 11.92 | Sell |
| SMA (20) | 11.81 | Sell |
| EMA (20) | 11.96 | Sell |
| SMA (50) | 12.35 | Sell |
| EMA (50) | 12.31 | Sell |
| SMA (100) | 13.05 | Sell |
| EMA (100) | 12.87 | Sell |
| SMA (200) | 13.27 | Sell |
| EMA (200) | 13.93 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 45.42 | Neutral |
| MACD (12,26,9) | -0.1 | Buy |
| Stochastic (14,3,3) | 39.28 | Neutral |
| ADX (14) | 31.46 | Buy |
| Williams %R (14) | -71.1 | Neutral |
| ATR (14) | 1.25 | High Volatility |
| ROC (12) | -1.02 | Sell |
| Stoch RSI (14) | 44.05 | Neutral |
| UO (7,14,28) | 51.72 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Sep - Submission of Newspaper Notice in respect of information regarding Annual General Meeting of the company. | [Announcement under Regulation 30 (LODR)-Newspaper Publication 9 Sep - Submission of Newspaper Notice in respect of information regarding Annual General Meeting of the company.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=88dd8eb5-97fb-4440-be15-ca32ff3fc634.pdf) |
| 30 Jul - Board appointed Sandhiya Balamurgan as additional independent director and rescheduled the 30th AGM. | [Announcement under Regulation 30 (LODR)-Change in Management 30 Jul - Board appointed Sandhiya Balamurgan as additional independent director and rescheduled the 30th AGM.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=515531a4-173f-4e0d-be92-13d09153329b.pdf) |
| 15 Aug - Please find attached Newspaper publication of extract of Un-Audited financial results for the quarter ended 30 June, 2026. | [Announcement under Regulation 30 (LODR)-Newspaper Publication 15 Aug - Please find attached Newspaper publication of extract of Un-Audited financial results for the quarter ended 30 June, 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=971ebd3a-493b-4046-a63f-217d0d806814.pdf) |
| 14 Aug - Q1 FY27 results approved on 14 Aug 2026; loss ₹892.91 lakh, auditor notes going-concern uncertainty. | [Board Meeting Outcome for Financial Results 14 Aug - Q1 FY27 results approved on 14 Aug 2026; loss ₹892.91 lakh, auditor notes going-concern uncertainty.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ac5c37da-dabf-4a85-8ba2-8794fcbc4dad.pdf) |
| 14 Aug - Board approved Q1 FY27 results; loss of Rs 892.91 lakh and going-concern uncertainty. | [Board Meeting Outcome For Board Meeting Held Today, August 14 , 2026 Under Regulation 30 Of SEBI (LODR), Regulations, 2015. 14 Aug - Board approved Q1 FY27 results; loss of Rs 892.91 lakh and going-concern uncertainty.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d3e99f70-98ff-4eb1-a0c8-6949fe92df49.pdf) |
| 11 Aug - Board meeting on 14 August 2026 to approve Q1 FY2027 unaudited financial results. | [Board Meeting Intimation for E-Land Apparel Limited To Be Held On 14 August 2026. 11 Aug - Board meeting on 14 August 2026 to approve Q1 FY2027 unaudited financial results.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ea8f3bc2-e978-41ad-a36d-6e7e31c116b2.pdf) |
| — | [Reg. 34 (1) Annual Report. 8 Sep](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=019a6c33-9260-4e29-83d6-e9dc4049889b.pdf) |
| — | [Shareholder Meeting AGM-30.09.2026 8 Sep](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6a32128f-6609-4ade-b8a4-33bc25a3e5a1.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2013 from nse](https://archives.nseindia.com/annual_reports/AR_1505_MUDRA_2012_2013_05092013123003.zip) |
| from nse | [Annual Report 2012 from nse](https://archives.nseindia.com/annual_reports/AR_MUDRA_2011_2012_25022013101819.zip) |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6c5f2eb8-7154-4dff-9be1-afbba5ace315.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a3c0eec8-f672-4998-9c44-8b3cf7cf4016.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3a28d26b-7af6-48df-b395-adcb8fc0e37b.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/532820/75757532820.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/532820/72136532820.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/532820/68046532820.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/532820/5328200319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/532820/5328200318.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 2026-09-13T19:35:51.883Z.