This textile stock was trending today!

This textile stock was trending today!

by 5paisa Research Team Last Updated: Jan 09, 2023 - 02:16 pm 4.8k Views
Listen icon

It is one of the largest denim fabric manufacturers.

On January 6, the market traded in the red. Sensex closed at 59,900.37, while NIFTY50 closed at 17859, both closed down around 0.75% for the day. Regarding sectoral performance, FMCG and Consumer Durables were the top gainers, while Metals and IT were the top losers. Talking about stock-specific action, Jindal Worldwide Ltd was among the top gainers in BSE group ‘A’.

The shares of Jindal Worldwide Ltd surged 3% and closed trading at Rs 454.35. The stock opened at Rs 460 and made an intraday high and low of Rs 460 and Rs 440, respectively.

Founded in 1986, Jindal Worldwide Ltd (Jindal) today is a diversified and integrated textile, fabric and shirting manufacturer and one of the world’s largest denim fabric manufacturers. It has a 7% market share in the Indian denim fabric industry.

The company's product offerings include denim, bottom-weight, fabrics, premium shirtings and home textile products. The company has four manufacturing plants located in Ahmedabad, Gujarat.

As per FY22, about 62% of the total revenue came from the denim business, 13% from bottom weights, 7% from premium shirting and the rest 18% from other segments. About 82% of the revenue came from the international market, while the rest 18% came from the domestic market.

Jindal Worldwide is pursuing diversification through clear strategies and thus forayed into the high-growth EV Industry by acquiring Earth Energy in May 2022, an EV startup. Earth Energy is a green vision initiative incorporated in 2017 that stood as one of the top 20 most promising start-ups in 2020.

For the latest September quarter, on a consolidated basis, the revenue registered a YoY decline of 24.3% to Rs 4775 crore from Rs 6305 crore. However, the net profit jumped YoY by 32% from Rs 25 crore in Q2FY22 to Rs 32.7 crore in Q2FY23. The company has a market capitalisation of Rs 9110 crore. The stock is trading at a PE multiple of 64.36x.

Share Market Today

How do you rate this article?


Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage


About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.


Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial. Also, The
Open Free Demat Account
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Marinetrans India IPO lists 15.38% higher and hits upper circuit

Premium listing for Marinetrans India IPO, then upper circuit

Net Avenue Technologies IPO lists 133.33% up but later hits -5% circuit

Strong listing for Net Avenue Technologies IPO, then lower circuit

What you must know about India Shelter Finance IPO?

India Shelter Finance Corporation Ltd was incorporated in 1998 and offers small and mid-ticket home loans. These loans are typically in the size of ₹5 lakhs to ₹50 lakhs. It provides home loans for construction, purchase, extension and also for renovation.