---
title: "Swaraj Suiting Ltd (SWARAJ) — Share Price, Financials & Analysis"
symbol: "SWARAJ"
company: "Swaraj Suiting Ltd"
canonical: "https://tapetide.com/stocks/SWARAJ"
isin: "INE0GMR01016"
nse_symbol: "SWARAJ"
bse_code: "544861"
sector: "Consumer Discretionary"
industry: "Textiles & Apparels"
market_cap_cr: 929.66
generated_at: "2026-09-13T20:56:31.683Z"
---

# Swaraj Suiting Ltd (SWARAJ)

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

## Company

- **NSE Symbol:** SWARAJ
- **BSE Code:** 544861
- **ISIN:** INE0GMR01016
- **Sector:** Consumer Discretionary
- **Industry:** Textiles & Apparels
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2022-03-28
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** swarajsuiting.com

## About

Incorporated in 2003, Swaraj Suiting Ltd does production of grey and finished fabric which are used into home textiles, bottom wears etc.[1]

## Latest Price

- **Price:** ₹335.15
- **Change:** -17.6 (-4.99%)
- **Open:** ₹352
- **Day High:** ₹353.9
- **Day Low:** ₹335.15
- **Previous Close:** ₹352.75
- **Volume:** 110904
- **As Of:** 2026-09-11T09:58:45+00:00

## Key Fundamentals

Observed at 2026-09-11T04:40:34.910285Z.

- **Market Cap:** ₹929.66 Cr
- **Classification:** Microcap
- **P/E (reported):** 15.3
- **P/E (TTM):** 13.57
- **EPS (TTM):** ₹24.69
- **Book Value:** ₹117.86
- **Price to Book:** 3
- **Dividend Yield:** 0%
- **ROE:** 21.69%
- **ROCE:** 18.18%
- **Debt to Equity:** 0.96
- **Revenue (yearly):** ₹576.74 Cr
- **Net Income:** ₹57.14 Cr
- **EBITDA:** ₹111.54 Cr
- **52-Week High:** ₹386.75
- **52-Week Low:** ₹158.5
- **RSI (14):** 43.35

## Tapetide Score

- **Score:** 46 / 100
- **Score date:** 2026-09-04
- **Archetype:** Trend Ahead of Fundamentals
- **What it means:** The price trend is running ahead of what the financials currently support. Moves like this depend on the fundamentals catching up; check what would have to be true for that.
- **Pillar profile:** Quality: Weak · Valuation: Fair · Momentum: Rising
- **Percentile:** 31.9 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 30.51 | 9% |
| growth | 89.17 | 9% |
| momentum | 78.72 | 12% |
| ownership | 48.26 | 24% |
| quality | 47.8 | 22% |
| valuation | 50.81 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company has delivered good profit growth of 83.1% CAGR over last 5 years

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last 3 years: -8.62%
- Working capital days have increased from 55.7 days to 82.5 days

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | -9% | 366.71% | 625.75% |
| ebitda margin growth | -5.99% | 6.3% | 35.95% | 78.13% |
| net income growth | -33.6% | 71.59% | 112% | 83% |
| revenue growth | -12.82% | 37.84% | 38% | 57% |
| roce | -4.19% | 9.72% | 38.88% | 13.05% |
| roe | -33.47% | 27.51% | 15.68% | 217.11% |

## Financial Statements

### Quarterly Results

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

| Item | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 86 | 169 | 77 | 127 | 165 | 207 | 183 |
| Expenses | 71 | 136 | 53 | 99 | 141 | 173 | 148 |
| Operating Profit | 15 | 34 | 24 | 28 | 25 | 34 | 36 |
| OPM % | 17 | 20 | 32 | 22 | 15 | 17 | 19 |
| Other Income | 1 | -1 | 1 | 1 | 1 | 6 | 2 |
| Interest | 5 | 6 | 9 | 10 | 6 | 5 | 11 |
| Depreciation | 3 | 3 | 4 | 6 | 6 | 6 | 6 |
| Profit before tax | 7 | 23 | 11 | 12 | 15 | 28 | 21 |
| Tax % | 31 | 20 | 29 | 27 | 27 | 14 | 22 |
| Net Profit | 5 | 18 | 9 | 9 | 11 | 25 | 16 |
| EPS in Rs | 2.66 | 8.33 | 4.07 | 4.07 | 5.02 | 9.38 | 6.22 |

### Profit & Loss

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

| Item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 76 | 80 | 60 | 129 | 219 | 320 | 417 | 577 | 683 |
| Expenses | 62 | 64 | 50 | 115 | 196 | 280 | 343 | 465 | 561 |
| Operating Profit | 14 | 16 | 10 | 13 | 23 | 40 | 73 | 112 | 123 |
| OPM % | 19 | 20 | 16 | 10 | 11 | 12 | 18 | 19 | 18 |
| Other Income | 0 | 0 | 0 | 0 | 1 | 6 | 2 | 8 | 10 |
| Interest | 4 | 5 | 3 | 3 | 9 | 13 | 19 | 30 | 33 |
| Depreciation | 7 | 7 | 4 | 5 | 8 | 8 | 11 | 23 | 24 |
| Profit before tax | 3 | 4 | 3 | 6 | 8 | 24 | 45 | 67 | 76 |
| Tax % | 22 | 17 | 20 | 25 | 27 | 25 | 25 | 22 | — |
| Net Profit | 2 | 4 | 3 | 5 | 6 | 18 | 33 | 54 | 61 |
| EPS in Rs | 5.23 | 8.38 | 5.8 | 3.17 | 3.97 | 10.16 | 15.21 | 20.4 | 24.69 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

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

| Item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 2 | 2 | 2 | 7 | 7 | 18 | 22 | 26 |
| Reserves | 24 | 29 | 36 | 54 | 59 | 89 | 132 | 314 |
| Borrowings | 56 | 49 | 42 | 74 | 113 | 175 | 268 | 327 |
| Other Liabilities | 12 | 17 | 12 | 7 | 51 | 74 | 150 | 191 |
| Total Liabilities | 94 | 97 | 92 | 142 | 231 | 356 | 571 | 858 |
| Fixed Assets | 52 | 45 | 36 | 37 | 81 | 77 | 262 | 315 |
| CWIP | 0 | 0 | 0 | 41 | 3 | 69 | 13 | 46 |
| Investments | 0 | 0 | 3 | 3 | 3 | 4 | 4 | 5 |
| Other Assets | 41 | 52 | 53 | 61 | 143 | 207 | 293 | 492 |
| Total Assets | 94 | 97 | 92 | 142 | 231 | 356 | 571 | 858 |

### Cash Flow

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

| Item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 10 | 9 | 6 | 15 | -15 | 45 | 41 | -17 |
| Cash from Investing Activity | -13 | 1 | -6 | -47 | -17 | -99 | -127 | -111 |
| Cash from Financing Activity | 4 | -10 | 0 | 34 | 31 | 54 | 87 | 138 |
| Net Cash Flow | 0 | 0 | 0 | 2 | -2 | 0 | 0 | 10 |
| Free Cash Flow | 4 | 16 | 3 | -32 | -30 | -25 | -99 | -97 |
| CFO/OP | 69 | 60 | 57 | 112 | -57 | 117 | 64 | -9 |

### Ratios

| Item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 62 | 62 | 80 | 40 | 94 | 76 | 88 | 78 |
| Inventory Days | 204 | 254 | 293 | 113 | 160 | 146 | 183 | 232 |
| Days Payable | 53 | 90 | 88 | 10 | 106 | 102 | 173 | 160 |
| Cash Conversion Cycle | 213 | 226 | 285 | 144 | 149 | 120 | 99 | 150 |
| Working Capital Days | 37 | 69 | 113 | 90 | 46 | 45 | 40 | 83 |
| ROCE % | — | 12 | 8 | 8 | 10 | 16 | 18 | 18 |

## Shareholding Pattern

### Quarterly

| Category | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 99.74% | 73.31% | 73.31% | 68.91% | 73.59% | 71.59% | 74.97% | 74.97% | 74.97% | 64.95% | 64.69% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.85% | 0.79% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.71% | 0.59% | 0.59% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 0% | 21.61% | 21.83% | 25.58% | 21.7% | 20.78% | 17.8% | 18.78% | 18.37% | 26.75% | 27.9% |
| Others | 0.26% | 5.08% | 4.86% | 5.51% | 4.71% | 7.63% | 7.23% | 6.26% | 5.96% | 6.85% | 6.03% |
| No. of Shareholders | 11 | 527 | 529 | 431 | 570 | 991 | 1303 | 1668 | 1840 | 1907 | 1843 |

## Technical Indicators

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

- **Overall Signal:** Neutral
- **Buy / Neutral / Sell:** 8 / 3 / 8

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 354.29 | Sell |
| EMA (10) | 353.46 | Sell |
| SMA (20) | 362.64 | Sell |
| EMA (20) | 357.54 | Sell |
| SMA (50) | 358.41 | Sell |
| EMA (50) | 347.3 | Sell |
| SMA (100) | 312.17 | Buy |
| EMA (100) | 325.02 | Buy |
| SMA (200) | 291.59 | Buy |
| EMA (200) | 294.34 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 30.7 | Neutral |
| MACD (12,26,9) | -2.34 | Sell |
| Stochastic (14,3,3) | 5.54 | Buy |
| ADX (14) | 19.79 | Neutral |
| Williams %R (14) | -100 | Buy |
| ATR (14) | 11.53 | High Volatility |
| ROC (12) | -10.18 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 19.37 | Buy |

## Filings & Documents

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-09-10 | [Financial Results For The Quarter Ended On 30 June 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=31f8dc9e-72e4-442c-9797-e92b4c469d7a.pdf) |

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-09 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=99791c75-50dc-4362-8d10-7a6d34227628.pdf) |
| 2026-09-09 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=522e6d06-5282-4a09-9d9e-22ea57146f8b.pdf) |
| 2026-09-08 | [Notice Of The Twenty-Third Annual General Meeting And Annual Report For The Financial Year 2025-26 Is Attached](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=afc94631-37c5-4eba-a473-bde7818fca32.pdf) |
| 2026-09-06 | [Board Meeting Outcome for Swaraj Suiting Limited Has Informed The Exchange Regarding Outcome Of Board Meeting Held On September 06 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1926c890-9f99-480e-a1b6-ad5600104f06.pdf) |
| 2026-09-02 | [Announcement under Regulation 30 (LODR)-Credit Rating](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6559e29c-27f9-4e57-b754-a9dd67921d54.pdf) |
| 2026-08-18 | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7C20555D_7C4C_435E_9FB6_2192A1DFAD69_113239.pdf) |
| 2026-08-14 | [Announcement under Regulation 30 (LODR)-Monitoring Agency Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=11df39f7-a66f-4059-b317-9766c84db9b6.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 9 Aug - Newspaper clipping of unaudited Q1 FY2026 results published on August 9, 2026. | [Copy of Newspaper Publication 9 Aug - Newspaper clipping of unaudited Q1 FY2026 results published on August 9, 2026.](https://nsearchives.nseindia.com/corporate/SWARAJ_09082026200726_Regu30FinancialResultsNews09Aug2026.pdf) |
| 8 Aug - Q1FY27 revenue up 139%, PAT up 100%; expansion, incentives and Main Board migration approved. | [Press Release 8 Aug - Q1FY27 revenue up 139%, PAT up 100%; expansion, incentives and Main Board migration approved.](https://nsearchives.nseindia.com/corporate/SWARAJ_08082026143724_Regu30IP08Aug2026.pdf) |
| 7 Aug - Q1 FY27 unaudited results approved; standalone revenue Rs 185.6 crore, profit Rs 16.22 crore. | [Outcome of Board Meeting 7 Aug - Q1 FY27 unaudited results approved; standalone revenue Rs 185.6 crore, profit Rs 16.22 crore.](https://nsearchives.nseindia.com/corporate/SWARAJ_07082026210512_Regu30BMOutcome07Aug2026.pdf) |
| 31 March 2026 - Trading window closed from April 1, 2026 until 48 hours after FY2025-26 results become generally available. | [Trading Window 31 March 2026 - Trading window closed from April 1, 2026 until 48 hours after FY2025-26 results become generally available.](https://nsearchives.nseindia.com/corporate/SWARAJ_31032026000505_TradingWindowClosure31March2026.pdf) |
| 31 March 2026 - Allotted 9,20,500 shares at premium Rs226 on warrant conversion; Rs16.29 crore received; paid-up capital increased. | [Outcome of Board Meeting 31 March 2026 - Allotted 9,20,500 shares at premium Rs226 on warrant conversion; Rs16.29 crore received; paid-up capital increased.](https://nsearchives.nseindia.com/corporate/SWARAJ_31032026161805_Regu30OutcomeofBM31March2026.pdf) |
| 31 Jul - Received Rs.20.50 crore subsidy on July 31, 2026; two-month total reaches Rs.27.54 crore. | [General Updates 31 Jul - Received Rs.20.50 crore subsidy on July 31, 2026; two-month total reaches Rs.27.54 crore.](https://nsearchives.nseindia.com/corporate/SWARAJ_31072026213437_Regu30Subsidy31July2026.pdf) |
| 30 June 2026 - Annual secretarial compliance report filed for 1 Apr-29 Jun 2026, supporting migration to NSE and BSE main board. | [Updates 30 June 2026 - Annual secretarial compliance report filed for 1 Apr-29 Jun 2026, supporting migration to NSE and BSE main board.](https://nsearchives.nseindia.com/corporate/SWARAJ_30062026153935_SwarajASCR30June2026.pdf) |
| 3 May 2026 - Board approved allotment of 33,000 equity shares on warrant conversion for Rs. 58.41 lakh on 03 May 2026. | [Outcome of Board Meeting 3 May 2026 - Board approved allotment of 33,000 equity shares on warrant conversion for Rs. 58.41 lakh on 03 May 2026.](https://nsearchives.nseindia.com/corporate/SWARAJ_03052026104945_Regu30OutcomeofBM03May2026.pdf) |
| 29 June 2026 - Swaraj Suiting to hold investor/analyst meetings in Mumbai on 3 July 2026. | [Analysts/Institutional Investor Meet/Con. Call Updates 29 June 2026 - Swaraj Suiting to hold investor/analyst meetings in Mumbai on 3 July 2026.](https://nsearchives.nseindia.com/corporate/SWARAJ_29062026182408_Regu30InvestorMeet03July2026.pdf) |
| 28 May 2026 - Investor presentation for Q4 and FY26 uploaded on May 28, 2026. | [Investor Presentation 28 May 2026 - Investor presentation for Q4 and FY26 uploaded on May 28, 2026.](https://nsearchives.nseindia.com/corporate/SWARAJ_28052026114922_Regu30IP28May2026.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2024 | [Concall - Nov 2024](https://nsearchives.nseindia.com/corporate/SWARAJ_25112024155816_Regu30IMTranscript18Nov2024.pdf) |
| Jun 2024 | [Concall - Jun 2024](https://nsearchives.nseindia.com/corporate/SWARAJ_12062024134352_Regu30InvestorMeetTranscript.pdf) |
| Jul 2025 | [Concall - Jul 2025](https://nsearchives.nseindia.com/corporate/SWARAJ_21072025181427_SwarajIPJuly2025revised.pdf) |
| Jul 2025 | [Concall - Jul 2025](https://nsearchives.nseindia.com/corporate/SWARAJ_21072025155523_SwarajIPJuly2025.pdf) |
| Feb 2024 | [Concall - Feb 2024](https://nsearchives.nseindia.com/corporate/SWARAJ_23022024202527_Regu30InvestorPresentation.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_29073_SWARAJ_2024_2025_A_6325462_16092025111710.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_26323_SWARAJ_2023_2024_16102024161855.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_23945_SWARAJ_2022_2023_17102023181439_10172023190000.zip) |
| from nse | [Annual Report 2022 from nse](https://archives.nseindia.com/annual_reports/SME_AR_21203_SWARAJ_2021_2022_03092022142331_09032022150001.zip) |

---

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 2026-09-13T20:56:31.683Z.