# Textiles - General — company-by-company sector analysis

> Textiles - General: Jindal Worldwide Ltd owns the largest revenue base; GHCL Textiles Ltd has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-08-18. Not investment advice.

## Bottom line

Textiles - General has outperformed NIFTY 500 by 8.9% over 52 weeks and 3.7% over 13 weeks. 2 of 4 covered companies beat NIFTY on Mansfield relative strength, while 4 of 4 beat the sector itself. Jindal Worldwide Ltd leads with revenue of ₹2,300 crore, based on 4 of 4 comparable companies through Jun 2026.

## Sector relative strength

Textiles - General has outperformed NIFTY 500 by 8.9% over the last 52 weeks. Over 13 weeks the gap is a lead of 3.7%. 2 of 4 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is broad. GHCL Textiles Ltd is the strongest against the sector itself at +22.8%. Readings are as of 2026-08-09.

13-week sector return versus NIFTY 500: 3.7%
52-week sector return versus NIFTY 500: 8.9%
Stocks leading NIFTY: 2/4
Stocks leading sector: 4/4

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 4
Combined market value: ₹5.8K 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. GHCL Textiles Ltd (GHCLTEXTIL): 69/100 — Favorable setup; evidence 84%
   - Growth & earnings 29.9/35 | Capital efficiency 8.3/25 | Valuation 10.7/20 | 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: 29.9 + 8.3 + 10.7 + 20 = 68.9
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2. Voith Paper Fabrics India Ltd (VOITHPAPR): 61/100 — Thin evidence · provisional; evidence 54%
   - Growth & earnings 21.6/35 | Capital efficiency 15.2/25 | Valuation 12.7/20 | Relative strength 11.3/20
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks, ending 2026-03-08 (no longer priced)
   - Exact sum: 21.6 + 15.2 + 12.7 + 11.3 = 60.8
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
3. Jindal Worldwide Ltd (JINDWORLD): 39/100 — Mixed-negative evidence; evidence 97%
   - Growth & earnings 7.1/35 | Capital efficiency 4.5/25 | Valuation 10.6/20 | Relative strength 16.7/20
   - Price stage: BREAKING OUT — Ahead of the benchmark five weeks or more running, with its lead holding or widening.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 12 of the last 12 weeks
   - Exact sum: 7.1 + 4.5 + 10.6 + 16.7 = 38.9
   - Decision use: Price leads the evidence: RS versus the benchmark is 14%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
4. VTM Ltd (VTMLTD): 33/100 — Adverse evidence; evidence 73%
   - Growth & earnings 7.6/35 | Capital efficiency 7.0/25 | Valuation 6.6/20 | Relative strength 12.0/20
   - 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 0 of 10 weeks with a reading, within the last 12
   - Exact sum: 7.6 + 7 + 6.6 + 12 = 33.2
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

## Market action

GHCL Textiles Ltd has the strongest one-year price move in Textiles - General at +48.3%. It also leads on Mansfield relative strength against NIFTY at +36.8%. 2 of 4 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-08-14.

### Strongest one-year price performers
1. GHCL Textiles Ltd (GHCLTEXTIL): 48%
2. Jindal Worldwide Ltd (JINDWORLD): -0.8%
3. Voith Paper Fabrics India Ltd (VOITHPAPR): -21%
4. VTM Ltd (VTMLTD): -49%

### Strongest relative strength versus NIFTY 500
1. GHCL Textiles Ltd (GHCLTEXTIL): 37%
2. Jindal Worldwide Ltd (JINDWORLD): 14%
3. Voith Paper Fabrics India Ltd (VOITHPAPR): -10%
4. VTM Ltd (VTMLTD): -35%

## Revenue Scale & Growth Durability

What the numbers say: Jindal Worldwide Ltd is the scale leader at ₹2,300 crore, 57.5% ahead of GHCL Textiles Ltd. GHCL Textiles Ltd's growth is 27.9% from a ₹1,460 crore base, with 15 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: Jindal Worldwide Ltd is the scale benchmark; GHCL Textiles Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Jindal Worldwide Ltd's growth falls below GHCL Textiles Ltd's for two consecutive comparable reports while operating margin also compresses.

Evidence: Jindal Worldwide Ltd · ₹2,300 crore | 57.5% versus #2 · GHCL Textiles Ltd | 7/8 recent comparable periods | 4/4 companies · 63 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. Jindal Worldwide Ltd (JINDWORLD): ₹2.3K Cr
2. GHCL Textiles Ltd (GHCLTEXTIL): ₹1.5K Cr
3. VTM Ltd (VTMLTD): ₹398 Cr
4. Voith Paper Fabrics India Ltd (VOITHPAPR): ₹208 Cr — older report

### Revenue growth — fastest growers
1. GHCL Textiles Ltd (GHCLTEXTIL): 28%
2. Voith Paper Fabrics India Ltd (VOITHPAPR): 14% — older report
3. VTM Ltd (VTMLTD): 12%
4. Jindal Worldwide Ltd (JINDWORLD): -1.8%

### 20-quarter Revenue history
- JINDWORLD: Sep 2021 ₹631 Cr | Dec 2021 ₹676 Cr | Mar 2022 ₹729 Cr | Jun 2022 ₹639 Cr | Sep 2022 ₹478 Cr | Dec 2022 ₹404 Cr | Mar 2023 ₹549 Cr | Jun 2023 ₹411 Cr | Sep 2023 ₹392 Cr | Dec 2023 ₹438 Cr | Mar 2024 ₹574 Cr | Jun 2024 ₹492 Cr | Sep 2024 ₹571 Cr | Dec 2024 ₹624 Cr | Mar 2025 ₹606 Cr | Jun 2025 ₹540 Cr | Sep 2025 ₹573 Cr | Dec 2025 ₹532 Cr | Mar 2026 ₹640 Cr | Jun 2026 ₹555 Cr
- GHCLTEXTIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 ₹0 Cr | Dec 2022 — | Mar 2023 ₹0 Cr | Jun 2023 ₹263 Cr | Sep 2023 ₹260 Cr | Dec 2023 ₹244 Cr | Mar 2024 ₹286 Cr | Jun 2024 ₹288 Cr | Sep 2024 ₹305 Cr | Dec 2024 ₹285 Cr | Mar 2025 ₹284 Cr | Jun 2025 ₹268 Cr | Sep 2025 ₹338 Cr | Dec 2025 ₹349 Cr | Mar 2026 ₹364 Cr | Jun 2026 ₹409 Cr
- VOITHPAPR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹39 Cr | Mar 2023 ₹43 Cr | Jun 2023 ₹44 Cr | Sep 2023 ₹48 Cr | Dec 2023 ₹42 Cr | Mar 2024 ₹45 Cr | Jun 2024 ₹45 Cr | Sep 2024 ₹51 Cr | Dec 2024 ₹41 Cr | Mar 2025 ₹53 Cr | Jun 2025 ₹53 Cr | Sep 2025 ₹53 Cr | Dec 2025 ₹50 Cr | Mar 2026 — | Jun 2026 —
- VTMLTD: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹49 Cr | Mar 2023 ₹53 Cr | Jun 2023 ₹46 Cr | Sep 2023 ₹47 Cr | Dec 2023 ₹51 Cr | Mar 2024 ₹64 Cr | Jun 2024 ₹59 Cr | Sep 2024 ₹73 Cr | Dec 2024 ₹104 Cr | Mar 2025 ₹109 Cr | Jun 2025 ₹72 Cr | Sep 2025 ₹90 Cr | Dec 2025 ₹100 Cr | Mar 2026 ₹110 Cr | Jun 2026 ₹98 Cr

### 20-quarter Revenue growth history
- JINDWORLD: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 22% | Sep 2022 -24% | Dec 2022 -40% | Mar 2023 -25% | Jun 2023 -36% | Sep 2023 -18% | Dec 2023 8.4% | Mar 2024 4.6% | Jun 2024 20% | Sep 2024 46% | Dec 2024 42% | Mar 2025 5.6% | Jun 2025 9.8% | Sep 2025 0.4% | Dec 2025 -15% | Mar 2026 5.6% | Jun 2026 2.8%
- GHCLTEXTIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 9.5% | Sep 2024 17% | Dec 2024 17% | Mar 2025 -0.7% | Jun 2025 -6.9% | Sep 2025 11% | Dec 2025 22% | Mar 2026 28% | Jun 2026 53%
- VOITHPAPR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 7.6% | Mar 2024 5.6% | Jun 2024 1.5% | Sep 2024 6.7% | Dec 2024 -2.0% | Mar 2025 17% | Jun 2025 17% | Sep 2025 3.5% | Dec 2025 21% | Mar 2026 — | Jun 2026 —
- VTMLTD: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 3.5% | Mar 2024 20% | Jun 2024 28% | Sep 2024 55% | Dec 2024 103% | Mar 2025 70% | Jun 2025 22% | Sep 2025 23% | Dec 2025 -3.5% | Mar 2026 1.4% | Jun 2026 37%

## Operating Economics & Margin Trend

What the numbers say: Voith Paper Fabrics India Ltd leads opm at 28.6%; GHCL Textiles Ltd leads margin change at +6 percentage points.

Investor read: Voith Paper Fabrics India 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: Voith Paper Fabrics India Ltd · 28.6% | 68.2% versus #2 · GHCL Textiles Ltd | 6/8 recent comparable periods | 4/4 companies · 71 observations

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

### OPM — highest
1. Voith Paper Fabrics India Ltd (VOITHPAPR): 29% — older report
2. GHCL Textiles Ltd (GHCLTEXTIL): 17%
3. VTM Ltd (VTMLTD): 5.9%
4. Jindal Worldwide Ltd (JINDWORLD): 5.0%

### Margin change — fastest expanders
1. GHCL Textiles Ltd (GHCLTEXTIL): +6.0 pp
2. Voith Paper Fabrics India Ltd (VOITHPAPR): +4.9 pp — older report
3. Jindal Worldwide Ltd (JINDWORLD): −2.0 pp
4. VTM Ltd (VTMLTD): −5.8 pp

### 20-quarter OPM history
- JINDWORLD: Sep 2021 7.7% | Dec 2021 8.7% | Mar 2022 9.0% | Jun 2022 12% | Sep 2022 13% | Dec 2022 11% | Mar 2023 10% | Jun 2023 10% | Sep 2023 9.0% | Dec 2023 12% | Mar 2024 10% | Jun 2024 9.0% | Sep 2024 8.0% | Dec 2024 8.0% | Mar 2025 8.0% | Jun 2025 7.0% | Sep 2025 5.0% | Dec 2025 4.2% | Mar 2026 6.0% | Jun 2026 5.0%
- GHCLTEXTIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 6.0% | Sep 2023 8.0% | Dec 2023 8.0% | Mar 2024 10% | Jun 2024 10% | Sep 2024 9.0% | Dec 2024 8.0% | Mar 2025 11% | Jun 2025 11% | Sep 2025 11% | Dec 2025 9.0% | Mar 2026 11% | Jun 2026 17%
- VOITHPAPR: Sep 2021 24% | Dec 2021 32% | Mar 2022 23% | Jun 2022 25% | Sep 2022 23% | Dec 2022 21% | Mar 2023 30% | Jun 2023 27% | Sep 2023 24% | Dec 2023 29% | Mar 2024 21% | Jun 2024 29% | Sep 2024 25% | Dec 2024 24% | Mar 2025 29% | Jun 2025 30% | Sep 2025 27% | Dec 2025 29% | Mar 2026 — | Jun 2026 —
- VTMLTD: Sep 2021 12% | Dec 2021 10% | Mar 2022 12% | Jun 2022 12% | Sep 2022 6.9% | Dec 2022 5.4% | Mar 2023 8.6% | Jun 2023 14% | Sep 2023 18% | Dec 2023 13% | Mar 2024 6.5% | Jun 2024 14% | Sep 2024 18% | Dec 2024 26% | Mar 2025 17% | Jun 2025 12% | Sep 2025 5.6% | Dec 2025 7.0% | Mar 2026 6.6% | Jun 2026 5.9%

### 20-quarter Margin change history
- JINDWORLD: Sep 2021 −3.1 pp | Dec 2021 +0.9 pp | Mar 2022 +5.3 pp | Jun 2022 +3.4 pp | Sep 2022 +5.2 pp | Dec 2022 +2.3 pp | Mar 2023 +1.0 pp | Jun 2023 −1.6 pp | Sep 2023 −3.9 pp | Dec 2023 +1.0 pp | Mar 2024 0.0 pp | Jun 2024 −1.0 pp | Sep 2024 −1.0 pp | Dec 2024 −4.0 pp | Mar 2025 −2.0 pp | Jun 2025 −2.0 pp | Sep 2025 −3.0 pp | Dec 2025 −3.8 pp | Mar 2026 −2.0 pp | Jun 2026 −2.0 pp
- GHCLTEXTIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 +4.0 pp | Sep 2024 +1.0 pp | Dec 2024 0.0 pp | Mar 2025 +1.0 pp | Jun 2025 +1.0 pp | Sep 2025 +2.0 pp | Dec 2025 +1.0 pp | Mar 2026 0.0 pp | Jun 2026 +6.0 pp
- VOITHPAPR: Sep 2021 −6.9 pp | Dec 2021 −2.6 pp | Mar 2022 −4.8 pp | Jun 2022 −5.3 pp | Sep 2022 −0.9 pp | Dec 2022 −10.7 pp | Mar 2023 +7.3 pp | Jun 2023 +1.7 pp | Sep 2023 +1.0 pp | Dec 2023 +7.6 pp | Mar 2024 −9.4 pp | Jun 2024 +1.4 pp | Sep 2024 +1.3 pp | Dec 2024 −4.9 pp | Mar 2025 +7.4 pp | Jun 2025 +1.2 pp | Sep 2025 +1.3 pp | Dec 2025 +4.9 pp | Mar 2026 — | Jun 2026 —
- VTMLTD: Sep 2021 +1.4 pp | Dec 2021 −3.4 pp | Mar 2022 +1.7 pp | Jun 2022 −2.5 pp | Sep 2022 −5.5 pp | Dec 2022 −5.0 pp | Mar 2023 −3.5 pp | Jun 2023 +2.8 pp | Sep 2023 +10.8 pp | Dec 2023 +8.0 pp | Mar 2024 −2.1 pp | Jun 2024 −0.4 pp | Sep 2024 +0.6 pp | Dec 2024 +12.5 pp | Mar 2025 +10.5 pp | Jun 2025 −2.3 pp | Sep 2025 −12.7 pp | Dec 2025 −18.9 pp | Mar 2026 −10.4 pp | Jun 2026 −5.8 pp

## Profit Scale & Acceleration

What the numbers say: GHCL Textiles Ltd leads with ₹96 crore of TTM profit, 14.3% above Jindal Worldwide Ltd. GHCL Textiles Ltd shows 65.5% growth from a ₹96 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: GHCL Textiles 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: GHCL Textiles Ltd · ₹96 crore | 14.3% versus #2 · Jindal Worldwide Ltd | 7/8 recent comparable periods | 4/4 companies · 63 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. GHCL Textiles Ltd (GHCLTEXTIL): ₹96 Cr
2. Jindal Worldwide Ltd (JINDWORLD): ₹84 Cr
3. Voith Paper Fabrics India Ltd (VOITHPAPR): ₹44 Cr — older report
4. VTM Ltd (VTMLTD): ₹9 Cr

### Profit growth — fastest growers
1. GHCL Textiles Ltd (GHCLTEXTIL): 66%
2. Voith Paper Fabrics India Ltd (VOITHPAPR): 21% — older report
3. Jindal Worldwide Ltd (JINDWORLD): 14%
4. VTM Ltd (VTMLTD): -80%

### 20-quarter Net profit history
- JINDWORLD: Sep 2021 ₹25 Cr | Dec 2021 ₹31 Cr | Mar 2022 ₹35 Cr | Jun 2022 ₹42 Cr | Sep 2022 ₹33 Cr | Dec 2022 ₹15 Cr | Mar 2023 ₹27 Cr | Jun 2023 ₹14 Cr | Sep 2023 ₹13 Cr | Dec 2023 ₹21 Cr | Mar 2024 ₹28 Cr | Jun 2024 ₹18 Cr | Sep 2024 ₹17 Cr | Dec 2024 ₹18 Cr | Mar 2025 ₹22 Cr | Jun 2025 ₹17 Cr | Sep 2025 ₹12 Cr | Dec 2025 ₹14 Cr | Mar 2026 ₹26 Cr | Jun 2026 ₹32 Cr
- GHCLTEXTIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 ₹0 Cr | Dec 2022 — | Mar 2023 ₹0 Cr | Jun 2023 ₹4 Cr | Sep 2023 ₹6 Cr | Dec 2023 ₹4 Cr | Mar 2024 ₹10 Cr | Jun 2024 ₹12 Cr | Sep 2024 ₹21 Cr | Dec 2024 ₹9 Cr | Mar 2025 ₹14 Cr | Jun 2025 ₹14 Cr | Sep 2025 ₹16 Cr | Dec 2025 ₹13 Cr | Mar 2026 ₹28 Cr | Jun 2026 ₹39 Cr
- VOITHPAPR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹7 Cr | Mar 2023 ₹10 Cr | Jun 2023 ₹10 Cr | Sep 2023 ₹10 Cr | Dec 2023 ₹10 Cr | Mar 2024 ₹7 Cr | Jun 2024 ₹10 Cr | Sep 2024 ₹10 Cr | Dec 2024 ₹8 Cr | Mar 2025 ₹11 Cr | Jun 2025 ₹13 Cr | Sep 2025 ₹12 Cr | Dec 2025 ₹8 Cr | Mar 2026 — | Jun 2026 —
- VTMLTD: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹1 Cr | Mar 2023 ₹3 Cr | Jun 2023 ₹5 Cr | Sep 2023 ₹5 Cr | Dec 2023 ₹5 Cr | Mar 2024 ₹4 Cr | Jun 2024 ₹5 Cr | Sep 2024 ₹10 Cr | Dec 2024 ₹18 Cr | Mar 2025 ₹12 Cr | Jun 2025 ₹5 Cr | Sep 2025 ₹2 Cr | Dec 2025 ₹3 Cr | Mar 2026 ₹1 Cr | Jun 2026 ₹2 Cr

### 20-quarter Profit growth history
- JINDWORLD: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 121% | Sep 2022 32% | Dec 2022 -52% | Mar 2023 -23% | Jun 2023 -67% | Sep 2023 -61% | Dec 2023 40% | Mar 2024 3.7% | Jun 2024 29% | Sep 2024 31% | Dec 2024 -14% | Mar 2025 -21% | Jun 2025 -5.6% | Sep 2025 -29% | Dec 2025 -22% | Mar 2026 18% | Jun 2026 88%
- GHCLTEXTIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 200% | Sep 2024 250% | Dec 2024 125% | Mar 2025 40% | Jun 2025 17% | Sep 2025 -24% | Dec 2025 44% | Mar 2026 100% | Jun 2026 179%
- VOITHPAPR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 37% | Mar 2024 -25% | Jun 2024 6.2% | Sep 2024 6.6% | Dec 2024 -16% | Mar 2025 53% | Jun 2025 23% | Sep 2025 12% | Dec 2025 2.3% | Mar 2026 — | Jun 2026 —
- VTMLTD: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 308% | Mar 2024 25% | Jun 2024 2.2% | Sep 2024 94% | Dec 2024 295% | Mar 2025 246% | Jun 2025 -12% | Sep 2025 -76% | Dec 2025 -81% | Mar 2026 -93% | Jun 2026 -58%

## Return On Capital Employed

What the numbers say: Voith Paper Fabrics India Ltd leads ROCE at 14.7%, 6.1 percentage points above Jindal Worldwide Ltd. GHCL Textiles Ltd has the strongest latest improvement at +1.2 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: Voith Paper Fabrics India 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: Voith Paper Fabrics India Ltd · 14.7% | 70.3% versus #2 · Jindal Worldwide Ltd | Not enough history | 4/4 companies · 24 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. Voith Paper Fabrics India Ltd (VOITHPAPR): 15% — older report
2. Jindal Worldwide Ltd (JINDWORLD): 8.6%
3. GHCL Textiles Ltd (GHCLTEXTIL): 5.8%
4. VTM Ltd (VTMLTD): 5.1%

### ROCE change — fastest improvers
1. GHCL Textiles Ltd (GHCLTEXTIL): +1.2 pp
2. Voith Paper Fabrics India Ltd (VOITHPAPR): 0.0 pp — older report
3. Jindal Worldwide Ltd (JINDWORLD): −3.2 pp
4. VTM Ltd (VTMLTD): −14.0 pp

### 20-quarter ROCE history
- JINDWORLD: Sep 2021 30% | Dec 2021 — | Mar 2022 29% | Jun 2022 — | Sep 2022 25% | Dec 2022 — | Mar 2023 22% | Jun 2023 — | Sep 2023 16% | Dec 2023 16% | Mar 2024 16% | Jun 2024 17% | Sep 2024 18% | Dec 2024 18% | Mar 2025 17% | Jun 2025 17% | Sep 2025 17% | Dec 2025 15% | Mar 2026 14% | Jun 2026 —
- GHCLTEXTIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 2.3% | Jun 2024 3.3% | Sep 2024 3.4% | Dec 2024 4.1% | Mar 2025 3.8% | Jun 2025 4.4% | Sep 2025 4.2% | Dec 2025 5.2% | Mar 2026 5.0% | Jun 2026 —

### 20-quarter ROCE change history
- JINDWORLD: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −5.1 pp | Dec 2022 — | Mar 2023 −6.8 pp | Jun 2023 — | Sep 2023 −8.5 pp | Dec 2023 — | Mar 2024 −6.1 pp | Jun 2024 — | Sep 2024 +1.8 pp | Dec 2024 +1.8 pp | Mar 2025 +0.9 pp | Jun 2025 +0.4 pp | Sep 2025 −0.5 pp | Dec 2025 −3.1 pp | Mar 2026 −3.2 pp | Jun 2026 —
- GHCLTEXTIL: 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 +1.5 pp | Jun 2025 +1.1 pp | Sep 2025 +0.8 pp | Dec 2025 +1.1 pp | Mar 2026 +1.2 pp | Jun 2026 —

## Valuation Against Growth & Quality

What the numbers say: Jindal Worldwide Ltd has the lowest comparable PEG at 1.59×. Only 1 of 4 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

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: Jindal Worldwide Ltd · 1.59× | Not enough peers | 0/8 recent comparable periods | 1/4 companies · 6 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
1. Jindal Worldwide Ltd (JINDWORLD): 1.6

### P/E — lowest P/E
1. GHCL Textiles Ltd (GHCLTEXTIL): 11.7
2. Voith Paper Fabrics India Ltd (VOITHPAPR): 14.7 — older report
3. Jindal Worldwide Ltd (JINDWORLD): 41.7
4. VTM Ltd (VTMLTD): 42.6

### 20-quarter PEG history
- JINDWORLD: Sep 2021 — | Dec 2021 2.6 | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 1.5 | Jun 2023 9.9 | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 4.1 | Mar 2025 8.1 | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 1.6 | Jun 2026 —

### 20-quarter P/E history
- JINDWORLD: Sep 2021 22.4 | Dec 2021 54.8 | Mar 2022 66.3 | Jun 2022 44.9 | Sep 2022 40.8 | Dec 2022 61.7 | Mar 2023 52.1 | Jun 2023 54.4 | Sep 2023 87.9 | Dec 2023 89.4 | Mar 2024 84.0 | Jun 2024 92.7 | Sep 2024 85.3 | Dec 2024 96.1 | Mar 2025 87.1 | Jun 2025 73.4 | Sep 2025 47.8 | Dec 2025 41.4 | Mar 2026 29.0 | Jun 2026 44.1
- GHCLTEXTIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 168.2 | Sep 2023 74.2 | Dec 2023 45.0 | Mar 2024 28.9 | Jun 2024 35.7 | Sep 2024 29.5 | Dec 2024 20.6 | Mar 2025 13.3 | Jun 2025 16.5 | Sep 2025 13.2 | Dec 2025 12.3 | Mar 2026 11.8 | Jun 2026 13.9
- VOITHPAPR: Sep 2021 18.9 | Dec 2021 16.5 | Mar 2022 15.7 | Jun 2022 14.8 | Sep 2022 18.3 | Dec 2022 16.7 | Mar 2023 16.0 | Jun 2023 22.3 | Sep 2023 21.6 | Dec 2023 22.2 | Mar 2024 21.2 | Jun 2024 23.7 | Sep 2024 28.7 | Dec 2024 24.6 | Mar 2025 17.9 | Jun 2025 20.9 | Sep 2025 19.3 | Dec 2025 16.7 | Mar 2026 — | Jun 2026 —
- VTMLTD: Sep 2021 13.8 | Dec 2021 12.2 | Mar 2022 15.1 | Jun 2022 15.1 | Sep 2022 12.8 | Dec 2022 14.8 | Mar 2023 15.8 | Jun 2023 23.8 | Sep 2023 23.1 | Dec 2023 18.0 | Mar 2024 16.4 | Jun 2024 15.3 | Sep 2024 16.1 | Dec 2024 30.2 | Mar 2025 22.9 | Jun 2025 22.0 | Sep 2025 14.0 | Dec 2025 19.0 | Mar 2026 34.0 | Jun 2026 43.1


## 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.
- 1 company has an older fundamental reporting date than the sector’s freshest reporters; its rank carries a stale marker.
- 1 company draws at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; it is marked unverified wherever that figure appears.
- Thin comparisons: Valuation have fewer than three usable current readings.

## Every company
- Jindal Worldwide Ltd (JINDWORLD) — market value ₹3.5K Cr; latest fundamentals Jun 2026
- GHCL Textiles Ltd (GHCLTEXTIL) — market value ₹1.1K Cr; latest fundamentals Jun 2026; includes UNVERIFIED second-feed figures
- Voith Paper Fabrics India Ltd (VOITHPAPR) — market value ₹675 Cr; latest fundamentals Dec 2025
- VTM Ltd (VTMLTD) — market value ₹470 Cr; latest fundamentals Jun 2026

## Source standing of each company

Cross-checked: 1. Unverified: 3. Withheld: 0. Graded companies: 4.

1 of 4 companies draws 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 | GHCLTEXTIL | GHCL Textiles Ltd | too little overlapping reported history to cross-check the second feed

## Methodology and freshness

Fundamentals through Jun 2026; prices through 2026-08-14.
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 - General sector outperforming NIFTY 500?

Textiles - General has outperformed NIFTY 500 by 8.9% over 52 weeks and 3.7% over 13 weeks. 2 of 4 covered companies beat NIFTY on Mansfield relative strength, while 4 of 4 beat the sector itself.

### Which Textiles - General company is largest by revenue?

Jindal Worldwide Ltd leads with revenue of ₹2,300 crore, based on 4 of 4 comparable companies through Jun 2026.

### Which Textiles - General company is growing fastest?

GHCL Textiles Ltd has the fastest current revenue growth at 27.9%, across 4 of 4 comparable companies.

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

GHCL Textiles Ltd ranks first at 68.9/100 with 84% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Textiles - General company has the lowest comparable PEG?

Jindal Worldwide Ltd has the lowest comparable PEG at 1.59, among 1 of 4 companies whose earnings and growth are steady enough for the ratio to mean anything.

### How much history does this Textiles - General comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 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.

### Is there a Nifty Textiles - General index?

NSE India maintains Nifty indices for several broad sector categories — Nifty Bank, Nifty IT, Nifty Pharma and others — but not for every sub-sector grouping on this site. Whether or not an official Nifty index covers Textiles - General, this page builds its own equal-weight basket of 4 listed Textiles - General companies — one company, one vote, regardless of market value — so no single large company dominates the reading. Figures are as of Jun 2026.

### Which are the best Textiles - General stocks in India?

Ranked by this page's four-factor score, GHCL Textiles Ltd places first among 4 listed Textiles - General companies, followed by Voith Paper Fabrics India Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

### How many Textiles - General stocks are listed in India?

This comparison covers 4 listed Textiles - General 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 Jun 2026.

### Which Textiles - General company is the biggest?

Jindal Worldwide Ltd is the largest, with trailing-twelve-month revenue of ₹2,300 crore, ahead of GHCL Textiles Ltd at ₹1,460 crore. That covers 4 of 4 companies with comparable reporting through Jun 2026.

### Which Textiles - General company has the best profit margins?

Voith Paper Fabrics India Ltd has the highest operating margin at 28.6%, from 4 of 4 comparable companies. GHCL Textiles Ltd shows the biggest recent improvement, at +6 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which Textiles - General company makes the most profit?

GHCL Textiles Ltd earns the most, at ₹96 crore of trailing-twelve-month net profit, from 4 of 4 comparable companies. GHCL Textiles Ltd has the fastest profit growth at 65.5%, though growth off a small or recovering profit base overstates how much has actually changed.

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

Voith Paper Fabrics India Ltd leads on return on capital employed at 14.7%, 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.

### Which Textiles - General stock is the cheapest?

On PEG — where a LOWER number is cheaper — Jindal Worldwide Ltd screens cheapest at 1.59×. Only 1 of 4 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

### Is the Textiles - General sector beating the market?

Textiles - General has outperformed NIFTY 500 by 8.9% over the last 52 weeks and 3.7% 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 - General stock has the strongest price momentum?

GHCL Textiles 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 - General company scores highest for research priority?

GHCL Textiles Ltd scores 68.9 out of 100 with 84% evidence confidence, from 29.9 points on growth and earnings, 8.3 on capital efficiency, 10.7 on valuation and 20 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 - General companies does this comparison cover, and over what period?

It compares 4 listed companies over up to 20 reported quarters of fundamentals, ending Jun 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 - General sector?

The 4 Textiles - General companies on this page carry ₹5,809 crore of combined market value. Jindal Worldwide Ltd is the largest at ₹3,535 crore, about 61% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-18.

### How is the Textiles - General sector performing?

2 of the 4 covered Textiles - General companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 8.9% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-18.

### 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.