# Textiles - Composite Mills — company-by-company sector analysis

> Textiles - Composite Mills: Mafatlal Industries Ltd owns the largest revenue base AND the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-08-02. Not investment advice.

## Bottom line

Textiles - Composite Mills has outperformed NIFTY 500 by 14.3% over 52 weeks and 12.6% over 13 weeks. 2 of 4 covered companies beat NIFTY on Mansfield relative strength, while 2 of 3 beat the sector itself. Mafatlal Industries Ltd leads with revenue of ₹3,871 crore, based on 3 of 4 comparable companies through Mar 2026.

## Sector relative strength

Textiles - Composite Mills has outperformed NIFTY 500 by 14.3% over the last 52 weeks. Over 13 weeks the gap is a lead of 12.6%. 2 of 4 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is broad. Ruby Mills Ltd is the strongest against the sector itself at +31%.

13-week sector return versus NIFTY 500: 13%
52-week sector return versus NIFTY 500: 14%
Stocks leading NIFTY: 2/4
Stocks leading sector: 2/3

Central tension: The central tension: current leadership is concentrated, so durability matters more than rank.

Companies: 4
Combined market value: ₹3.3K Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. Nahar Industrial Enterprises Ltd (NAHARINDUS): 50/100 — Mixed-positive evidence; evidence 62%
   - Growth & earnings 23.6/35 | Capital efficiency 5.8/25 | Valuation 10.0/20 | Relative strength 10.9/20
   - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 2 of 3 weeks with a reading, within the last 12
   - Exact sum: 23.6 + 5.8 + 10 + 10.9 = 50.3
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2. Lakshmi Mills Company Ltd (LAKSHMIMIL): 41/100 — Thin evidence · provisional; evidence 58%
   - Growth & earnings 15.8/35 | Capital efficiency 4.6/25 | Valuation 10.0/20 | Relative strength 10.6/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 1 of 10 weeks with a reading, within the last 12
   - Exact sum: 15.8 + 4.6 + 10 + 10.6 = 41
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
3. Mafatlal Industries Ltd (MAFATIND): 41/100 — Mixed-negative evidence; evidence 71%
   - Growth & earnings 17.4/35 | Capital efficiency 10.3/25 | Valuation 10.0/20 | Relative strength 3.0/20
   - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 1 of 7 weeks with a reading, within the last 12
   - Exact sum: 17.4 + 10.3 + 10 + 3 = 40.7
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4. Ruby Mills Ltd (RUBYMILLS): 58/100 — Thin evidence · provisional; evidence 45%
   - Growth & earnings 17.7/35 | Capital efficiency 10.1/25 | Valuation 10.0/20 | Relative strength 20.0/20
   - Price stage: LEADER — Ahead of the benchmark 13 weeks or more running, and ahead over the past year.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 12 of the last 12 weeks
   - Exact sum: 17.7 + 10.1 + 10 + 20 = 57.8
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

## Market action

Ruby Mills Ltd has the strongest one-year price move in Textiles - Composite Mills at +57.3%. It also leads on Mansfield relative strength against NIFTY at +50.1%. 2 of 4 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-31.

### Strongest one-year price performers
1. Ruby Mills Ltd (RUBYMILLS): 57%
2. Mafatlal Industries Ltd (MAFATIND): 4.2%
3. Lakshmi Mills Company Ltd (LAKSHMIMIL): -18%

### Strongest relative strength versus NIFTY 500
1. Ruby Mills Ltd (RUBYMILLS): 50%
2. Nahar Industrial Enterprises Ltd (NAHARINDUS): 1.8%
3. Lakshmi Mills Company Ltd (LAKSHMIMIL): -1.2%
4. Mafatlal Industries Ltd (MAFATIND): -6.5%

## Revenue Scale & Growth Durability

What the numbers say: Mafatlal Industries Ltd is the scale leader at ₹3,871 crore, 174.9% ahead of Nahar Industrial Enterprises Ltd. Mafatlal Industries Ltd's growth is 37.9% from a ₹3,871 crore base, with 14 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: Mafatlal Industries Ltd is the scale benchmark; Mafatlal Industries Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Mafatlal Industries Ltd's growth falls below Mafatlal Industries Ltd's for two consecutive comparable reports while operating margin also compresses.

Evidence: Mafatlal Industries Ltd · ₹3,871 crore | 174.9% versus #2 · Nahar Industrial Enterprises Ltd | 5/8 recent comparable periods | 3/4 companies · 42 observations

Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

### Revenue — largest
1. Mafatlal Industries Ltd (MAFATIND): ₹3.9K Cr
2. Nahar Industrial Enterprises Ltd (NAHARINDUS): ₹1.4K Cr
3. Lakshmi Mills Company Ltd (LAKSHMIMIL): ₹242 Cr

### Revenue growth — fastest growers
1. Mafatlal Industries Ltd (MAFATIND): 38%
2. Nahar Industrial Enterprises Ltd (NAHARINDUS): -8.0%
3. Lakshmi Mills Company Ltd (LAKSHMIMIL): -8.1%

### 20-quarter Revenue history
- RUBYMILLS: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 ₹123 Cr
- MAFATIND: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹293 Cr | Mar 2023 ₹338 Cr | Jun 2023 ₹586 Cr | Sep 2023 ₹309 Cr | Dec 2023 ₹420 Cr | Mar 2024 ₹764 Cr | Jun 2024 ₹452 Cr | Sep 2024 ₹996 Cr | Dec 2024 ₹910 Cr | Mar 2025 ₹450 Cr | Jun 2025 ₹1.2K Cr | Sep 2025 ₹1.0K Cr | Dec 2025 ₹717 Cr | Mar 2026 ₹884 Cr
- LAKSHMIMIL: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹45 Cr | Mar 2023 ₹45 Cr | Jun 2023 ₹62 Cr | Sep 2023 ₹53 Cr | Dec 2023 ₹70 Cr | Mar 2024 ₹68 Cr | Jun 2024 ₹65 Cr | Sep 2024 ₹73 Cr | Dec 2024 ₹55 Cr | Mar 2025 ₹71 Cr | Jun 2025 ₹55 Cr | Sep 2025 ₹59 Cr | Dec 2025 ₹62 Cr | Mar 2026 ₹66 Cr
- NAHARINDUS: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹398 Cr | Jun 2023 ₹392 Cr | Sep 2023 ₹344 Cr | Dec 2023 ₹364 Cr | Mar 2024 ₹373 Cr | Jun 2024 ₹354 Cr | Sep 2024 ₹356 Cr | Dec 2024 ₹430 Cr | Mar 2025 ₹390 Cr | Jun 2025 ₹389 Cr | Sep 2025 ₹340 Cr | Dec 2025 ₹340 Cr | Mar 2026 ₹339 Cr

### 20-quarter Revenue growth history
- MAFATIND: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 44% | Mar 2024 126% | Jun 2024 -23% | Sep 2024 222% | Dec 2024 117% | Mar 2025 -41% | Jun 2025 174% | Sep 2025 3.4% | Dec 2025 -21% | Mar 2026 96%
- LAKSHMIMIL: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 56% | Mar 2024 51% | Jun 2024 3.6% | Sep 2024 36% | Dec 2024 -21% | Mar 2025 4.5% | Jun 2025 -15% | Sep 2025 -19% | Dec 2025 12% | Mar 2026 -6.1%
- NAHARINDUS: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 -6.3% | Jun 2024 -9.7% | Sep 2024 3.5% | Dec 2024 18% | Mar 2025 4.6% | Jun 2025 9.9% | Sep 2025 -4.5% | Dec 2025 -21% | Mar 2026 -13%

## Operating Economics & Margin Trend

What the numbers say: Ruby Mills Ltd leads opm at 28%; Lakshmi Mills Company Ltd leads margin change at +2.3 percentage points.

Investor read: Ruby Mills Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Evidence: Ruby Mills Ltd · 28% | 147.8% versus #2 · Lakshmi Mills Company Ltd | Not enough history | 4/4 companies · 61 observations

Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

### OPM — highest
1. Ruby Mills Ltd (RUBYMILLS): 28%
2. Lakshmi Mills Company Ltd (LAKSHMIMIL): 11%
3. Nahar Industrial Enterprises Ltd (NAHARINDUS): 10%
4. Mafatlal Industries Ltd (MAFATIND): 1.1%

### Margin change — fastest expanders
1. Lakshmi Mills Company Ltd (LAKSHMIMIL): +2.3 pp
2. Nahar Industrial Enterprises Ltd (NAHARINDUS): +2.0 pp
3. Mafatlal Industries Ltd (MAFATIND): −1.4 pp

### 20-quarter OPM history
- RUBYMILLS: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 28%
- MAFATIND: Jun 2021 -5.1% | Sep 2021 -0.5% | Dec 2021 1.8% | Mar 2022 4.0% | Jun 2022 2.5% | Sep 2022 1.6% | Dec 2022 2.0% | Mar 2023 2.1% | Jun 2023 2.1% | Sep 2023 2.3% | Dec 2023 1.3% | Mar 2024 2.0% | Jun 2024 5.0% | Sep 2024 1.9% | Dec 2024 1.5% | Mar 2025 2.5% | Jun 2025 3.5% | Sep 2025 2.4% | Dec 2025 1.9% | Mar 2026 1.1%
- LAKSHMIMIL: Jun 2021 14% | Sep 2021 17% | Dec 2021 16% | Mar 2022 10% | Jun 2022 12% | Sep 2022 -5.4% | Dec 2022 -7.0% | Mar 2023 -2.8% | Jun 2023 -5.9% | Sep 2023 -7.3% | Dec 2023 5.4% | Mar 2024 5.0% | Jun 2024 9.2% | Sep 2024 6.9% | Dec 2024 3.4% | Mar 2025 9.0% | Jun 2025 9.4% | Sep 2025 12% | Dec 2025 13% | Mar 2026 11%
- NAHARINDUS: Jun 2021 15% | Sep 2021 14% | Dec 2021 18% | Mar 2022 14% | Jun 2022 12% | Sep 2022 9.5% | Dec 2022 6.1% | Mar 2023 4.2% | Jun 2023 1.7% | Sep 2023 0.8% | Dec 2023 4.8% | Mar 2024 8.0% | Jun 2024 4.2% | Sep 2024 2.4% | Dec 2024 3.7% | Mar 2025 8.0% | Jun 2025 3.9% | Sep 2025 -1.0% | Dec 2025 4.5% | Mar 2026 10%

### 20-quarter Margin change history
- MAFATIND: Jun 2021 +38.4 pp | Sep 2021 +6.6 pp | Dec 2021 +6.3 pp | Mar 2022 +8.3 pp | Jun 2022 +7.6 pp | Sep 2022 +2.2 pp | Dec 2022 +0.2 pp | Mar 2023 −1.9 pp | Jun 2023 −0.4 pp | Sep 2023 +0.7 pp | Dec 2023 −0.7 pp | Mar 2024 −0.1 pp | Jun 2024 +2.9 pp | Sep 2024 −0.4 pp | Dec 2024 +0.2 pp | Mar 2025 +0.5 pp | Jun 2025 −1.5 pp | Sep 2025 +0.5 pp | Dec 2025 +0.4 pp | Mar 2026 −1.4 pp
- LAKSHMIMIL: Jun 2021 +45.8 pp | Sep 2021 +17.9 pp | Dec 2021 +0.5 pp | Mar 2022 −11.0 pp | Jun 2022 −2.5 pp | Sep 2022 −22.0 pp | Dec 2022 −22.9 pp | Mar 2023 −13.0 pp | Jun 2023 −17.6 pp | Sep 2023 −1.9 pp | Dec 2023 +12.4 pp | Mar 2024 +7.8 pp | Jun 2024 +15.1 pp | Sep 2024 +14.2 pp | Dec 2024 −2.0 pp | Mar 2025 +4.0 pp | Jun 2025 +0.2 pp | Sep 2025 +5.1 pp | Dec 2025 +10.0 pp | Mar 2026 +2.3 pp
- NAHARINDUS: Jun 2021 +20.6 pp | Sep 2021 +13.0 pp | Dec 2021 +10.6 pp | Mar 2022 −1.0 pp | Jun 2022 −3.0 pp | Sep 2022 −4.7 pp | Dec 2022 −11.9 pp | Mar 2023 −9.4 pp | Jun 2023 −10.4 pp | Sep 2023 −8.7 pp | Dec 2023 −1.3 pp | Mar 2024 +3.8 pp | Jun 2024 +2.5 pp | Sep 2024 +1.6 pp | Dec 2024 −1.1 pp | Mar 2025 0.0 pp | Jun 2025 −0.3 pp | Sep 2025 −3.4 pp | Dec 2025 +0.8 pp | Mar 2026 +2.0 pp

## Profit Scale & Acceleration

What the numbers say: Mafatlal Industries Ltd leads with ₹90 crore of TTM profit, 76.5% above Nahar Industrial Enterprises Ltd. Nahar Industrial Enterprises Ltd shows ≥100% on the scoring scale (168.4% uncapped) growth from a ₹51 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: Mafatlal Industries Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: Mafatlal Industries Ltd · ₹90 crore | 76.5% versus #2 · Nahar Industrial Enterprises Ltd | 4/8 recent comparable periods | 3/4 companies · 42 observations

Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

### Net profit — largest
1. Mafatlal Industries Ltd (MAFATIND): ₹90 Cr
2. Nahar Industrial Enterprises Ltd (NAHARINDUS): ₹51 Cr
3. Lakshmi Mills Company Ltd (LAKSHMIMIL): ₹-16 Cr

### Profit growth — fastest growers
1. Nahar Industrial Enterprises Ltd (NAHARINDUS): 100%
2. Mafatlal Industries Ltd (MAFATIND): -7.2%

### 20-quarter Net profit history
- RUBYMILLS: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 ₹11 Cr
- MAFATIND: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹1 Cr | Mar 2023 ₹12 Cr | Jun 2023 ₹27 Cr | Sep 2023 ₹21 Cr | Dec 2023 ₹17 Cr | Mar 2024 ₹33 Cr | Jun 2024 ₹30 Cr | Sep 2024 ₹20 Cr | Dec 2024 ₹24 Cr | Mar 2025 ₹23 Cr | Jun 2025 ₹46 Cr | Sep 2025 ₹22 Cr | Dec 2025 ₹4 Cr | Mar 2026 ₹18 Cr
- LAKSHMIMIL: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹-4 Cr | Mar 2023 ₹-4 Cr | Jun 2023 ₹-6 Cr | Sep 2023 ₹-3 Cr | Dec 2023 ₹-3 Cr | Mar 2024 ₹-2 Cr | Jun 2024 ₹-1 Cr | Sep 2024 ₹1 Cr | Dec 2024 ₹-4 Cr | Mar 2025 ₹-1 Cr | Jun 2025 ₹-22 Cr | Sep 2025 ₹3 Cr | Dec 2025 ₹2 Cr | Mar 2026 ₹2 Cr
- NAHARINDUS: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹14 Cr | Jun 2023 ₹-6 Cr | Sep 2023 ₹-9 Cr | Dec 2023 ₹5 Cr | Mar 2024 ₹19 Cr | Jun 2024 ₹1 Cr | Sep 2024 ₹-3 Cr | Dec 2024 ₹5 Cr | Mar 2025 ₹16 Cr | Jun 2025 ₹4 Cr | Sep 2025 ₹16 Cr | Dec 2025 ₹6 Cr | Mar 2026 ₹25 Cr

### 20-quarter Profit growth history
- MAFATIND: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 1,810% | Mar 2024 175% | Jun 2024 11% | Sep 2024 -4.8% | Dec 2024 41% | Mar 2025 -30% | Jun 2025 53% | Sep 2025 10% | Dec 2025 -83% | Mar 2026 -22%
- LAKSHMIMIL: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 121% | Dec 2025 — | Mar 2026 —
- NAHARINDUS: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 36% | Jun 2024 — | Sep 2024 — | Dec 2024 0.0% | Mar 2025 -16% | Jun 2025 300% | Sep 2025 — | Dec 2025 20% | Mar 2026 56%

## Return On Capital Employed

What the numbers say: Mafatlal Industries Ltd leads ROCE at 12.8%, 6.2 percentage points above Nahar Industrial Enterprises Ltd. Nahar Industrial Enterprises Ltd has the strongest latest improvement at +3 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: Mafatlal Industries Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

Evidence: Mafatlal Industries Ltd · 12.8% | 93.1% versus #2 · Nahar Industrial Enterprises Ltd | 7/8 recent comparable periods | 4/4 companies · 25 observations

Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

### ROCE — highest
1. Mafatlal Industries Ltd (MAFATIND): 13%
2. Nahar Industrial Enterprises Ltd (NAHARINDUS): 6.6%
3. Ruby Mills Ltd (RUBYMILLS): 4.6%
4. Lakshmi Mills Company Ltd (LAKSHMIMIL): 2.0%

### ROCE change — fastest improvers
1. Nahar Industrial Enterprises Ltd (NAHARINDUS): +3.0 pp
2. Mafatlal Industries Ltd (MAFATIND): +2.1 pp
3. Lakshmi Mills Company Ltd (LAKSHMIMIL): +1.0 pp
4. Ruby Mills Ltd (RUBYMILLS): +1.0 pp

### 20-quarter ROCE history
- RUBYMILLS: Jun 2021 — | Sep 2021 4.6% | Dec 2021 — | Mar 2022 5.9% | Jun 2022 — | Sep 2022 7.5% | Dec 2022 — | Mar 2023 5.4% | Jun 2023 — | Sep 2023 4.7% | Dec 2023 — | Mar 2024 5.9% | Jun 2024 — | Sep 2024 5.2% | Dec 2024 — | Mar 2025 3.6% | Jun 2025 — | Sep 2025 4.2% | Dec 2025 — | Mar 2026 4.6%
- MAFATIND: Jun 2021 — | Sep 2021 -3.8% | Dec 2021 — | Mar 2022 0.5% | Jun 2022 — | Sep 2022 3.4% | Dec 2022 — | Mar 2023 3.1% | Jun 2023 — | Sep 2023 3.3% | Dec 2023 12% | Mar 2024 4.6% | Jun 2024 12% | Sep 2024 6.4% | Dec 2024 11% | Mar 2025 8.1% | Jun 2025 12% | Sep 2025 10% | Dec 2025 11% | Mar 2026 10%

### 20-quarter ROCE change history
- RUBYMILLS: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +2.9 pp | Dec 2022 — | Mar 2023 −0.5 pp | Jun 2023 — | Sep 2023 −2.8 pp | Dec 2023 — | Mar 2024 +0.5 pp | Jun 2024 — | Sep 2024 +0.5 pp | Dec 2024 — | Mar 2025 −2.3 pp | Jun 2025 — | Sep 2025 −1.0 pp | Dec 2025 — | Mar 2026 +1.0 pp
- MAFATIND: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +7.2 pp | Dec 2022 — | Mar 2023 +2.6 pp | Jun 2023 — | Sep 2023 −0.1 pp | Dec 2023 — | Mar 2024 +1.5 pp | Jun 2024 — | Sep 2024 +3.1 pp | Dec 2024 −1.6 pp | Mar 2025 +3.5 pp | Jun 2025 +0.3 pp | Sep 2025 +3.8 pp | Dec 2025 +0.3 pp | Mar 2026 +2.1 pp

## Valuation Against Growth & Quality

What the numbers say: There is not enough comparable evidence to name a reliable peg leader.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

Evidence: No comparable leader | Not enough peers | Not enough history | 0/4 companies · 0 observations

Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

### PEG — lowest PEG

### P/E — lowest P/E
1. Nahar Industrial Enterprises Ltd (NAHARINDUS): 9.4
2. Mafatlal Industries Ltd (MAFATIND): 10.5
3. Ruby Mills Ltd (RUBYMILLS): 28.6

### 20-quarter PEG history

### 20-quarter P/E history
- RUBYMILLS: Jun 2021 14.7 | Sep 2021 14.5 | Dec 2021 14.0 | Mar 2022 17.4 | Jun 2022 15.0 | Sep 2022 22.0 | Dec 2022 15.2 | Mar 2023 14.3 | Jun 2023 21.5 | Sep 2023 24.8 | Dec 2023 20.8 | Mar 2024 14.4 | Jun 2024 16.6 | Sep 2024 24.7 | Dec 2024 20.5 | Mar 2025 14.8 | Jun 2025 17.7 | Sep 2025 13.7 | Dec 2025 15.2 | Mar 2026 15.5
- MAFATIND: Jun 2021 — | Sep 2021 -9.4 | Dec 2021 64.7 | Mar 2022 17.5 | Jun 2022 7.2 | Sep 2022 8.0 | Dec 2022 10.4 | Mar 2023 6.7 | Jun 2023 11.4 | Sep 2023 20.2 | Dec 2023 15.9 | Mar 2024 10.4 | Jun 2024 14.6 | Sep 2024 12.4 | Dec 2024 13.2 | Mar 2025 7.6 | Jun 2025 8.8 | Sep 2025 8.4 | Dec 2025 9.7 | Mar 2026 8.4
- LAKSHMIMIL: Jun 2021 — | Sep 2021 17.2 | Dec 2021 10.3 | Mar 2022 10.2 | Jun 2022 9.6 | Sep 2022 11.1 | Dec 2022 19.9 | Mar 2023 98.4 | Jun 2023 92.5 | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 —
- NAHARINDUS: Jun 2021 — | Sep 2021 7.1 | Dec 2021 4.2 | Mar 2022 4.3 | Jun 2022 3.1 | Sep 2022 3.0 | Dec 2022 3.1 | Mar 2023 3.5 | Jun 2023 6.5 | Sep 2023 12.3 | Dec 2023 40.6 | Mar 2024 61.4 | Jun 2024 50.3 | Sep 2024 36.1 | Dec 2024 26.3 | Mar 2025 16.8 | Jun 2025 29.1 | Sep 2025 21.2 | Dec 2025 11.0 | Mar 2026 8.7


## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 2 companies draw at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; they are marked unverified wherever those figures appear.
- Thin comparisons: Valuation have fewer than three usable current readings.

## Every company
- Ruby Mills Ltd (RUBYMILLS) — market value ₹1.2K Cr; latest fundamentals Mar 2026; includes UNVERIFIED second-feed figures
- Mafatlal Industries Ltd (MAFATIND) — market value ₹965 Cr; latest fundamentals Mar 2026; includes UNVERIFIED second-feed figures
- Lakshmi Mills Company Ltd (LAKSHMIMIL) — market value ₹557 Cr; latest fundamentals Mar 2026
- Nahar Industrial Enterprises Ltd (NAHARINDUS) — market value ₹490 Cr; latest fundamentals Mar 2026

## Source standing of each company

Cross-checked: 0. Unverified: 4. Withheld: 0. Graded companies: 4.

2 of 4 companies draw at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear.

- UNVERIFIED | RUBYMILLS | Ruby Mills Ltd | too little overlapping reported history to cross-check the second feed
- UNVERIFIED | MAFATIND | Mafatlal Industries Ltd | too little overlapping reported history to cross-check the second feed

## Methodology and freshness

Fundamentals through Mar 2026; prices through 2026-07-31.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### Is the Textiles - Composite Mills sector outperforming NIFTY 500?

Textiles - Composite Mills has outperformed NIFTY 500 by 14.3% over 52 weeks and 12.6% over 13 weeks. 2 of 4 covered companies beat NIFTY on Mansfield relative strength, while 2 of 3 beat the sector itself.

### Which Textiles - Composite Mills company is largest by revenue?

Mafatlal Industries Ltd leads with revenue of ₹3,871 crore, based on 3 of 4 comparable companies through Mar 2026.

### Which Textiles - Composite Mills company is growing fastest?

Mafatlal Industries Ltd has the fastest current revenue growth at 37.9%, across 3 of 4 comparable companies.

### Which Textiles - Composite Mills company has the strongest 4-Factor Sector Score?

Nahar Industrial Enterprises Ltd ranks first at 50.3/100 with 62% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### How much history does this Textiles - Composite Mills comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Mar 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

### What is the Nifty Textiles - Composite Mills index?

The Nifty Textiles - Composite Mills index tracks India's listed Textiles - Composite Mills companies as a single basket. This page follows the same 4 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Textiles - Composite Mills sector rather than to its largest constituent. Figures are as of Mar 2026.

### Which are the best Textiles - Composite Mills stocks in India?

Ranked by this page's four-factor score, Nahar Industrial Enterprises Ltd places first among 4 listed Textiles - Composite Mills companies, followed by Lakshmi Mills Company Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Mar 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

### How many Textiles - Composite Mills stocks are listed in India?

This comparison covers 4 listed Textiles - Composite Mills companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Mar 2026.

### Which Textiles - Composite Mills company is the biggest?

Mafatlal Industries Ltd is the largest, with trailing-twelve-month revenue of ₹3,871 crore, ahead of Nahar Industrial Enterprises Ltd at ₹1,408 crore. That covers 3 of 4 companies with comparable reporting through Mar 2026.

### Which Textiles - Composite Mills company has the best profit margins?

Ruby Mills Ltd has the highest operating margin at 28%, from 4 of 4 comparable companies. Lakshmi Mills Company Ltd shows the biggest recent improvement, at +2.3 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which Textiles - Composite Mills company makes the most profit?

Mafatlal Industries Ltd earns the most, at ₹90 crore of trailing-twelve-month net profit, from 3 of 4 comparable companies. Nahar Industrial Enterprises Ltd has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Textiles - Composite Mills company earns the highest return on capital?

Mafatlal Industries Ltd leads on return on capital employed at 12.8%, across 4 of 4 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Is the Textiles - Composite Mills sector beating the market?

Textiles - Composite Mills has outperformed NIFTY 500 by 14.3% over the last 52 weeks and 12.6% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 2 of 4 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

### Which Textiles - Composite Mills stock has the strongest price momentum?

Ruby Mills Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which Textiles - Composite Mills company scores highest for research priority?

Nahar Industrial Enterprises Ltd scores 50.3 out of 100 with 62% evidence confidence, from 23.6 points on growth and earnings, 5.8 on capital efficiency, 10 on valuation and 10.9 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many Textiles - Composite Mills companies does this comparison cover, and over what period?

It compares 4 listed companies over up to 20 reported quarters of fundamentals, ending Mar 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the Textiles - Composite Mills sector?

The 4 Textiles - Composite Mills companies on this page carry ₹3,259 crore of combined market value. Ruby Mills Ltd is the largest at ₹1,247 crore, about 38% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-02.

### How is the Textiles - Composite Mills sector performing?

2 of the 4 covered Textiles - Composite Mills companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 14.3% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-02.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.