# Textiles - Hosiery/Knitwear — company-by-company sector analysis

> Textiles - Hosiery/Knitwear: Page Industries Ltd owns the largest revenue base; Dollar Industries Ltd has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-08-05. Not investment advice.

## Bottom line

Textiles - Hosiery/Knitwear has underperformed NIFTY 500 by 15% over 52 weeks and 3.5% over 13 weeks. 2 of 4 covered companies beat NIFTY on Mansfield relative strength, while 2 of 4 beat the sector itself. Page Industries Ltd leads with revenue of ₹5,248 crore, based on 4 of 4 comparable companies through Mar 2026.

## Sector relative strength

Textiles - Hosiery/Knitwear has underperformed NIFTY 500 by 15% over the last 52 weeks. Over 13 weeks the gap is a lead of 3.5%. 2 of 4 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Nahar Spinning Mills Ltd is the strongest against the sector itself at +21.4%.

13-week sector return versus NIFTY 500: 3.5%
52-week sector return versus NIFTY 500: -15%
Stocks leading NIFTY: 2/4
Stocks leading sector: 2/4

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: ₹48.8K 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. Page Industries Ltd (PAGEIND): 62/100 — Mixed-positive evidence; evidence 91%
   - Growth & earnings 14.8/35 | Capital efficiency 24.0/25 | Valuation 7.9/20 | Relative strength 15.7/20
   - 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 8 of 10 weeks with a reading, within the last 12
   - Exact sum: 14.8 + 24 + 7.9 + 15.7 = 62.4
   - Decision use: Price leads the evidence: RS versus the benchmark is 4%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
2. Nahar Spinning Mills Ltd (NAHARSPING): 47/100 — Mixed-negative evidence; evidence 77%
   - Growth & earnings 12.5/35 | Capital efficiency 4.7/25 | 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: 12.5 + 4.7 + 10 + 20 = 47.2
   - Decision use: Price leads the evidence: RS versus the benchmark is 25.2%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
3. Dollar Industries Ltd (DOLLAR): 44/100 — Mixed-negative evidence; evidence 78%
   - Growth & earnings 16.6/35 | Capital efficiency 12.3/25 | Valuation 12.2/20 | 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 0 of 10 weeks with a reading, within the last 12
   - Exact sum: 16.6 + 12.3 + 12.2 + 3 = 44.1
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4. Rupa & Company Ltd (RUPA): 34/100 — Adverse evidence; evidence 91%
   - Growth & earnings 9.5/35 | Capital efficiency 7.2/25 | Valuation 14.2/20 | Relative strength 3.4/20
   - 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 6 of 10 weeks with a reading, within the last 12
   - Exact sum: 9.5 + 7.2 + 14.2 + 3.4 = 34.3
   - Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.

## Market action

Nahar Spinning Mills Ltd has the strongest one-year price move in Textiles - Hosiery/Knitwear at +8.9%. It also leads on Mansfield relative strength against NIFTY at +25.2%. 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. Nahar Spinning Mills Ltd (NAHARSPING): 8.9%
2. Page Industries Ltd (PAGEIND): -13%
3. Rupa & Company Ltd (RUPA): -25%
4. Dollar Industries Ltd (DOLLAR): -30%

### Strongest relative strength versus NIFTY 500
1. Nahar Spinning Mills Ltd (NAHARSPING): 25%
2. Page Industries Ltd (PAGEIND): 4.0%
3. Rupa & Company Ltd (RUPA): -4.1%
4. Dollar Industries Ltd (DOLLAR): -17%

## Revenue Scale & Growth Durability

What the numbers say: Page Industries Ltd is the scale leader at ₹5,248 crore, 63.1% ahead of Nahar Spinning Mills Ltd. Dollar Industries Ltd's growth is 9.9% from a ₹1,881 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: Page Industries Ltd is the scale benchmark; Dollar Industries Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

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

Evidence: Page Industries Ltd · ₹5,248 crore | 63.1% versus #2 · Nahar Spinning Mills Ltd | 8/8 recent comparable periods | 4/4 companies · 69 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. Page Industries Ltd (PAGEIND): ₹5.2K Cr
2. Nahar Spinning Mills Ltd (NAHARSPING): ₹3.2K Cr
3. Dollar Industries Ltd (DOLLAR): ₹1.9K Cr
4. Rupa & Company Ltd (RUPA): ₹1.3K Cr

### Revenue growth — fastest growers
1. Dollar Industries Ltd (DOLLAR): 9.9%
2. Page Industries Ltd (PAGEIND): 6.3%
3. Rupa & Company Ltd (RUPA): 1.8%
4. Nahar Spinning Mills Ltd (NAHARSPING): -2.0%

### 20-quarter Revenue history
- PAGEIND: Jun 2021 ₹502 Cr | Sep 2021 ₹1.1K Cr | Dec 2021 ₹1.2K Cr | Mar 2022 ₹1.1K Cr | Jun 2022 ₹1.3K Cr | Sep 2022 ₹1.3K Cr | Dec 2022 ₹1.2K Cr | Mar 2023 ₹965 Cr | Jun 2023 ₹1.2K Cr | Sep 2023 ₹1.1K Cr | Dec 2023 ₹1.2K Cr | Mar 2024 ₹992 Cr | Jun 2024 ₹1.3K Cr | Sep 2024 ₹1.2K Cr | Dec 2024 ₹1.3K Cr | Mar 2025 ₹1.1K Cr | Jun 2025 ₹1.3K Cr | Sep 2025 ₹1.3K Cr | Dec 2025 ₹1.4K Cr | Mar 2026 ₹1.3K Cr
- DOLLAR: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 ₹340 Cr | Dec 2022 ₹285 Cr | Mar 2023 ₹406 Cr | Jun 2023 ₹328 Cr | Sep 2023 ₹413 Cr | Dec 2023 ₹332 Cr | Mar 2024 ₹500 Cr | Jun 2024 ₹334 Cr | Sep 2024 ₹447 Cr | Dec 2024 ₹381 Cr | Mar 2025 ₹549 Cr | Jun 2025 ₹399 Cr | Sep 2025 ₹472 Cr | Dec 2025 ₹388 Cr | Mar 2026 ₹622 Cr
- RUPA: Jun 2021 ₹218 Cr | Sep 2021 ₹368 Cr | Dec 2021 ₹433 Cr | Mar 2022 ₹457 Cr | Jun 2022 ₹215 Cr | Sep 2022 ₹286 Cr | Dec 2022 ₹236 Cr | Mar 2023 ₹407 Cr | Jun 2023 ₹195 Cr | Sep 2023 ₹302 Cr | Dec 2023 ₹319 Cr | Mar 2024 ₹400 Cr | Jun 2024 ₹210 Cr | Sep 2024 ₹297 Cr | Dec 2024 ₹316 Cr | Mar 2025 ₹415 Cr | Jun 2025 ₹184 Cr | Sep 2025 ₹320 Cr | Dec 2025 ₹314 Cr | Mar 2026 ₹442 Cr
- NAHARSPING: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹554 Cr | Mar 2023 ₹724 Cr | Jun 2023 ₹749 Cr | Sep 2023 ₹728 Cr | Dec 2023 ₹758 Cr | Mar 2024 ₹815 Cr | Jun 2024 ₹821 Cr | Sep 2024 ₹776 Cr | Dec 2024 ₹812 Cr | Mar 2025 ₹876 Cr | Jun 2025 ₹819 Cr | Sep 2025 ₹779 Cr | Dec 2025 ₹703 Cr | Mar 2026 ₹917 Cr

### 20-quarter Revenue growth history
- PAGEIND: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 167% | Sep 2022 16% | Dec 2022 0.8% | Mar 2023 -13% | Jun 2023 -8.4% | Sep 2023 -10% | Dec 2023 2.2% | Mar 2024 2.8% | Jun 2024 4.0% | Sep 2024 11% | Dec 2024 7.1% | Mar 2025 11% | Jun 2025 3.1% | Sep 2025 3.6% | Dec 2025 5.6% | Mar 2026 14%
- DOLLAR: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 21% | Dec 2023 16% | Mar 2024 23% | Jun 2024 1.8% | Sep 2024 8.2% | Dec 2024 15% | Mar 2025 9.8% | Jun 2025 19% | Sep 2025 5.6% | Dec 2025 1.8% | Mar 2026 13%
- RUPA: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -1.4% | Sep 2022 -22% | Dec 2022 -46% | Mar 2023 -11% | Jun 2023 -9.3% | Sep 2023 5.6% | Dec 2023 35% | Mar 2024 -1.7% | Jun 2024 7.7% | Sep 2024 -1.7% | Dec 2024 -0.9% | Mar 2025 3.8% | Jun 2025 -12% | Sep 2025 7.7% | Dec 2025 -0.6% | Mar 2026 6.5%
- NAHARSPING: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 37% | Mar 2024 13% | Jun 2024 9.6% | Sep 2024 6.6% | Dec 2024 7.1% | Mar 2025 7.5% | Jun 2025 -0.2% | Sep 2025 0.4% | Dec 2025 -13% | Mar 2026 4.7%

## Operating Economics & Margin Trend

What the numbers say: Page Industries Ltd leads opm at 21%; Rupa & Company Ltd leads margin change at +1 percentage points.

Investor read: Page 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 margin change signal.

Evidence: Page Industries Ltd · 21% | 75% versus #2 · Rupa & Company Ltd | 4/8 recent comparable periods | 4/4 companies · 80 observations

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

### OPM — highest
1. Page Industries Ltd (PAGEIND): 21%
2. Rupa & Company Ltd (RUPA): 12%
3. Dollar Industries Ltd (DOLLAR): 9.0%
4. Nahar Spinning Mills Ltd (NAHARSPING): 6.0%

### Margin change — fastest expanders
1. Rupa & Company Ltd (RUPA): +1.0 pp
2. Page Industries Ltd (PAGEIND): 0.0 pp
3. Dollar Industries Ltd (DOLLAR): −1.0 pp
4. Nahar Spinning Mills Ltd (NAHARSPING): −2.0 pp

### 20-quarter OPM history
- PAGEIND: Jun 2021 6.8% | Sep 2021 22% | Dec 2021 21% | Mar 2022 24% | Jun 2022 22% | Sep 2022 19% | Dec 2022 16% | Mar 2023 14% | Jun 2023 19% | Sep 2023 21% | Dec 2023 18% | Mar 2024 17% | Jun 2024 19% | Sep 2024 23% | Dec 2024 23% | Mar 2025 21% | Jun 2025 22% | Sep 2025 22% | Dec 2025 23% | Mar 2026 21%
- DOLLAR: Jun 2021 17% | Sep 2021 17% | Dec 2021 17% | Mar 2022 15% | Jun 2022 10% | Sep 2022 9.0% | Dec 2022 7.0% | Mar 2023 2.1% | Jun 2023 8.0% | Sep 2023 10% | Dec 2023 10% | Mar 2024 11% | Jun 2024 11% | Sep 2024 11% | Dec 2024 11% | Mar 2025 10% | Jun 2025 11% | Sep 2025 13% | Dec 2025 10% | Mar 2026 9.0%
- RUPA: Jun 2021 19% | Sep 2021 19% | Dec 2021 19% | Mar 2022 16% | Jun 2022 8.6% | Sep 2022 10% | Dec 2022 6.0% | Mar 2023 7.0% | Jun 2023 6.0% | Sep 2023 11% | Dec 2023 10% | Mar 2024 10% | Jun 2024 9.0% | Sep 2024 10% | Dec 2024 12% | Mar 2025 11% | Jun 2025 7.0% | Sep 2025 7.0% | Dec 2025 8.0% | Mar 2026 12%
- NAHARSPING: Jun 2021 23% | Sep 2021 25% | Dec 2021 24% | Mar 2022 18% | Jun 2022 13% | Sep 2022 9.4% | Dec 2022 1.0% | Mar 2023 4.7% | Jun 2023 1.2% | Sep 2023 1.8% | Dec 2023 2.4% | Mar 2024 4.9% | Jun 2024 6.0% | Sep 2024 0.6% | Dec 2024 4.7% | Mar 2025 8.0% | Jun 2025 7.0% | Sep 2025 3.3% | Dec 2025 2.1% | Mar 2026 6.0%

### 20-quarter Margin change history
- PAGEIND: Jun 2021 +19.0 pp | Sep 2021 −0.8 pp | Dec 2021 −3.3 pp | Mar 2022 +4.8 pp | Jun 2022 +15.4 pp | Sep 2022 −2.2 pp | Dec 2022 −5.1 pp | Mar 2023 −10.0 pp | Jun 2023 −3.2 pp | Sep 2023 +1.6 pp | Dec 2023 +2.0 pp | Mar 2024 +3.0 pp | Jun 2024 0.0 pp | Sep 2024 +2.0 pp | Dec 2024 +5.0 pp | Mar 2025 +4.0 pp | Jun 2025 +3.0 pp | Sep 2025 −1.0 pp | Dec 2025 0.0 pp | Mar 2026 0.0 pp
- DOLLAR: Jun 2021 −0.7 pp | Sep 2021 +2.9 pp | Dec 2021 +3.0 pp | Mar 2022 +4.8 pp | Jun 2022 −7.0 pp | Sep 2022 −7.6 pp | Dec 2022 −9.8 pp | Mar 2023 −12.8 pp | Jun 2023 −2.3 pp | Sep 2023 +1.0 pp | Dec 2023 +3.0 pp | Mar 2024 +8.9 pp | Jun 2024 +3.0 pp | Sep 2024 +1.0 pp | Dec 2024 +1.0 pp | Mar 2025 −1.0 pp | Jun 2025 0.0 pp | Sep 2025 +2.0 pp | Dec 2025 −1.0 pp | Mar 2026 −1.0 pp
- RUPA: Jun 2021 +2.0 pp | Sep 2021 −2.4 pp | Dec 2021 +0.1 pp | Mar 2022 −3.8 pp | Jun 2022 −10.7 pp | Sep 2022 −9.2 pp | Dec 2022 −12.7 pp | Mar 2023 −9.2 pp | Jun 2023 −2.6 pp | Sep 2023 +0.8 pp | Dec 2023 +4.0 pp | Mar 2024 +3.0 pp | Jun 2024 +3.0 pp | Sep 2024 −1.0 pp | Dec 2024 +2.0 pp | Mar 2025 +1.0 pp | Jun 2025 −2.0 pp | Sep 2025 −3.0 pp | Dec 2025 −4.0 pp | Mar 2026 +1.0 pp
- NAHARSPING: Jun 2021 +23.8 pp | Sep 2021 +23.8 pp | Dec 2021 +13.7 pp | Mar 2022 +1.1 pp | Jun 2022 −10.0 pp | Sep 2022 −15.9 pp | Dec 2022 −22.8 pp | Mar 2023 −13.3 pp | Jun 2023 −11.8 pp | Sep 2023 −7.6 pp | Dec 2023 +1.4 pp | Mar 2024 +0.2 pp | Jun 2024 +4.8 pp | Sep 2024 −1.2 pp | Dec 2024 +2.3 pp | Mar 2025 +3.1 pp | Jun 2025 +1.0 pp | Sep 2025 +2.7 pp | Dec 2025 −2.6 pp | Mar 2026 −2.0 pp

## Profit Scale & Acceleration

What the numbers say: Page Industries Ltd leads with ₹765 crore of TTM profit, 608.3% above Dollar Industries Ltd. Nahar Spinning Mills Ltd shows 61.5% growth from a ₹21 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: Page 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: Page Industries Ltd · ₹765 crore | 608.3% versus #2 · Dollar Industries Ltd | 6/8 recent comparable periods | 4/4 companies · 69 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. Page Industries Ltd (PAGEIND): ₹765 Cr
2. Dollar Industries Ltd (DOLLAR): ₹108 Cr
3. Rupa & Company Ltd (RUPA): ₹72 Cr
4. Nahar Spinning Mills Ltd (NAHARSPING): ₹21 Cr

### Profit growth — fastest growers
1. Nahar Spinning Mills Ltd (NAHARSPING): 62%
2. Dollar Industries Ltd (DOLLAR): 17%
3. Page Industries Ltd (PAGEIND): 4.9%
4. Rupa & Company Ltd (RUPA): -13%

### 20-quarter Net profit history
- PAGEIND: Jun 2021 ₹11 Cr | Sep 2021 ₹160 Cr | Dec 2021 ₹175 Cr | Mar 2022 ₹191 Cr | Jun 2022 ₹207 Cr | Sep 2022 ₹162 Cr | Dec 2022 ₹124 Cr | Mar 2023 ₹78 Cr | Jun 2023 ₹158 Cr | Sep 2023 ₹150 Cr | Dec 2023 ₹152 Cr | Mar 2024 ₹108 Cr | Jun 2024 ₹165 Cr | Sep 2024 ₹195 Cr | Dec 2024 ₹205 Cr | Mar 2025 ₹164 Cr | Jun 2025 ₹201 Cr | Sep 2025 ₹195 Cr | Dec 2025 ₹190 Cr | Mar 2026 ₹179 Cr
- DOLLAR: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 ₹18 Cr | Dec 2022 ₹8 Cr | Mar 2023 ₹0 Cr | Jun 2023 ₹15 Cr | Sep 2023 ₹25 Cr | Dec 2023 ₹18 Cr | Mar 2024 ₹34 Cr | Jun 2024 ₹16 Cr | Sep 2024 ₹26 Cr | Dec 2024 ₹20 Cr | Mar 2025 ₹30 Cr | Jun 2025 ₹22 Cr | Sep 2025 ₹35 Cr | Dec 2025 ₹18 Cr | Mar 2026 ₹33 Cr
- RUPA: Jun 2021 ₹27 Cr | Sep 2021 ₹53 Cr | Dec 2021 ₹58 Cr | Mar 2022 ₹49 Cr | Jun 2022 ₹12 Cr | Sep 2022 ₹17 Cr | Dec 2022 ₹6 Cr | Mar 2023 ₹19 Cr | Jun 2023 ₹4 Cr | Sep 2023 ₹21 Cr | Dec 2023 ₹21 Cr | Mar 2024 ₹24 Cr | Jun 2024 ₹10 Cr | Sep 2024 ₹18 Cr | Dec 2024 ₹24 Cr | Mar 2025 ₹31 Cr | Jun 2025 ₹6 Cr | Sep 2025 ₹14 Cr | Dec 2025 ₹16 Cr | Mar 2026 ₹36 Cr
- NAHARSPING: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹-11 Cr | Mar 2023 ₹10 Cr | Jun 2023 ₹-18 Cr | Sep 2023 ₹-18 Cr | Dec 2023 ₹-15 Cr | Mar 2024 ₹0 Cr | Jun 2024 ₹7 Cr | Sep 2024 ₹-17 Cr | Dec 2024 ₹1 Cr | Mar 2025 ₹22 Cr | Jun 2025 ₹16 Cr | Sep 2025 ₹-5 Cr | Dec 2025 ₹-13 Cr | Mar 2026 ₹23 Cr

### 20-quarter Profit growth history
- PAGEIND: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 1,782% | Sep 2022 1.3% | Dec 2022 -29% | Mar 2023 -59% | Jun 2023 -24% | Sep 2023 -7.4% | Dec 2023 23% | Mar 2024 38% | Jun 2024 4.4% | Sep 2024 30% | Dec 2024 35% | Mar 2025 52% | Jun 2025 22% | Sep 2025 0.0% | Dec 2025 -7.3% | Mar 2026 9.2%
- DOLLAR: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 39% | Dec 2023 125% | Mar 2024 — | Jun 2024 6.7% | Sep 2024 4.0% | Dec 2024 11% | Mar 2025 -12% | Jun 2025 38% | Sep 2025 35% | Dec 2025 -10% | Mar 2026 10%
- RUPA: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -56% | Sep 2022 -68% | Dec 2022 -90% | Mar 2023 -61% | Jun 2023 -67% | Sep 2023 24% | Dec 2023 250% | Mar 2024 26% | Jun 2024 150% | Sep 2024 -14% | Dec 2024 14% | Mar 2025 29% | Jun 2025 -40% | Sep 2025 -22% | Dec 2025 -33% | Mar 2026 16%
- NAHARSPING: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 -100% | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 129% | Sep 2025 — | Dec 2025 -1,400% | Mar 2026 4.6%

## Return On Capital Employed

What the numbers say: Page Industries Ltd leads ROCE at 64.4%, 50.8 percentage points above Dollar Industries Ltd. Page Industries Ltd has the strongest latest improvement at +1.1 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: Page 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: Page Industries Ltd · 64.4% | 373.5% versus #2 · Dollar Industries Ltd | 7/8 recent comparable periods | 4/4 companies · 61 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. Page Industries Ltd (PAGEIND): 64%
2. Dollar Industries Ltd (DOLLAR): 14%
3. Rupa & Company Ltd (RUPA): 9.6%
4. Nahar Spinning Mills Ltd (NAHARSPING): 3.2%

### ROCE change — fastest improvers
1. Page Industries Ltd (PAGEIND): +1.1 pp
2. Dollar Industries Ltd (DOLLAR): 0.0 pp
3. Nahar Spinning Mills Ltd (NAHARSPING): −0.5 pp
4. Rupa & Company Ltd (RUPA): −1.7 pp

### 20-quarter ROCE history
- PAGEIND: Jun 2021 — | Sep 2021 55% | Dec 2021 — | Mar 2022 62% | Jun 2022 — | Sep 2022 69% | Dec 2022 — | Mar 2023 52% | Jun 2023 — | Sep 2023 43% | Dec 2023 49% | Mar 2024 44% | Jun 2024 50% | Sep 2024 49% | Dec 2024 57% | Mar 2025 59% | Jun 2025 64% | Sep 2025 61% | Dec 2025 64% | Mar 2026 60%
- DOLLAR: Jun 2021 — | Sep 2021 26% | Dec 2021 — | Mar 2022 30% | Jun 2022 — | Sep 2022 24% | Dec 2022 — | Mar 2023 11% | Jun 2023 9.8% | Sep 2023 11% | Dec 2023 13% | Mar 2024 17% | Jun 2024 19% | Sep 2024 17% | Dec 2024 19% | Mar 2025 16% | Jun 2025 18% | Sep 2025 17% | Dec 2025 18% | Mar 2026 16%
- RUPA: Jun 2021 — | Sep 2021 32% | Dec 2021 — | Mar 2022 28% | Jun 2022 — | Sep 2022 20% | Dec 2022 — | Mar 2023 8.0% | Jun 2023 — | Sep 2023 7.5% | Dec 2023 11% | Mar 2024 10% | Jun 2024 13% | Sep 2024 11% | Dec 2024 13% | Mar 2025 11% | Jun 2025 13% | Sep 2025 10% | Dec 2025 11% | Mar 2026 9.6%
- NAHARSPING: Jun 2021 — | Sep 2021 36% | Dec 2021 — | Mar 2022 41% | Jun 2022 — | Sep 2022 29% | Dec 2022 — | Mar 2023 9.2% | Jun 2023 — | Sep 2023 0.4% | Dec 2023 0.3% | Mar 2024 -0.4% | Jun 2024 2.4% | Sep 2024 2.3% | Dec 2024 3.7% | Mar 2025 4.9% | Jun 2025 6.0% | Sep 2025 5.6% | Dec 2025 5.2% | Mar 2026 4.4%

### 20-quarter ROCE change history
- PAGEIND: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +13.4 pp | Dec 2022 — | Mar 2023 −9.3 pp | Jun 2023 — | Sep 2023 −26.0 pp | Dec 2023 — | Mar 2024 −8.0 pp | Jun 2024 — | Sep 2024 +6.8 pp | Dec 2024 +7.6 pp | Mar 2025 +14.7 pp | Jun 2025 +13.6 pp | Sep 2025 +11.9 pp | Dec 2025 +7.1 pp | Mar 2026 +1.1 pp
- DOLLAR: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −2.7 pp | Dec 2022 — | Mar 2023 −18.7 pp | Jun 2023 — | Sep 2023 −12.8 pp | Dec 2023 — | Mar 2024 +5.4 pp | Jun 2024 +8.9 pp | Sep 2024 +5.8 pp | Dec 2024 +6.8 pp | Mar 2025 −0.6 pp | Jun 2025 −0.7 pp | Sep 2025 +0.4 pp | Dec 2025 −1.1 pp | Mar 2026 0.0 pp
- RUPA: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −11.1 pp | Dec 2022 — | Mar 2023 −19.5 pp | Jun 2023 — | Sep 2023 −12.9 pp | Dec 2023 — | Mar 2024 +2.3 pp | Jun 2024 — | Sep 2024 +3.0 pp | Dec 2024 +1.4 pp | Mar 2025 +1.0 pp | Jun 2025 −0.2 pp | Sep 2025 −0.1 pp | Dec 2025 −1.8 pp | Mar 2026 −1.7 pp
- NAHARSPING: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −7.2 pp | Dec 2022 — | Mar 2023 −31.3 pp | Jun 2023 — | Sep 2023 −28.8 pp | Dec 2023 — | Mar 2024 −9.6 pp | Jun 2024 — | Sep 2024 +1.9 pp | Dec 2024 +3.4 pp | Mar 2025 +5.3 pp | Jun 2025 +3.6 pp | Sep 2025 +3.3 pp | Dec 2025 +1.5 pp | Mar 2026 −0.5 pp

## Valuation Against Growth & Quality

What the numbers say: Rupa & Company Ltd has the lowest comparable PEG at 1.39×, 54.3% below Page Industries Ltd. Only 2 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: Rupa & Company Ltd · 1.39× | 54.3% versus #2 · Page Industries Ltd | 0/8 recent comparable periods | 2/4 companies · 18 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. Rupa & Company Ltd (RUPA): 1.4
2. Page Industries Ltd (PAGEIND): 3.0

### P/E — lowest P/E
1. Dollar Industries Ltd (DOLLAR): 14.0
2. Rupa & Company Ltd (RUPA): 16.7
3. Nahar Spinning Mills Ltd (NAHARSPING): 44.9
4. Page Industries Ltd (PAGEIND): 57.0

### 20-quarter PEG history
- PAGEIND: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 1.5 | Sep 2022 — | Dec 2022 — | Mar 2023 1.3 | Jun 2023 11.4 | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 8.0 | Dec 2024 3.9 | Mar 2025 2.9 | Jun 2025 2.7 | Sep 2025 1.8 | Dec 2025 2.3 | Mar 2026 3.0
- RUPA: Jun 2021 0.7 | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 1.6 | Sep 2022 2.8 | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 1.0 | Jun 2024 0.9 | Sep 2024 — | Dec 2024 0.5 | Mar 2025 0.8 | Jun 2025 1.4 | Sep 2025 — | Dec 2025 — | Mar 2026 —

### 20-quarter P/E history
- PAGEIND: Jun 2021 96.5 | Sep 2021 95.9 | Dec 2021 102.3 | Mar 2022 97.7 | Jun 2022 83.2 | Sep 2022 77.1 | Dec 2022 65.1 | Mar 2023 61.9 | Jun 2023 73.5 | Sep 2023 83.2 | Dec 2023 84.1 | Mar 2024 71.2 | Jun 2024 76.6 | Sep 2024 81.4 | Dec 2024 84.3 | Mar 2025 70.7 | Jun 2025 75.6 | Sep 2025 60.1 | Dec 2025 53.2 | Mar 2026 45.8
- DOLLAR: Jun 2021 20.5 | Sep 2021 23.1 | Dec 2021 20.9 | Mar 2022 23.9 | Jun 2022 18.4 | Sep 2022 18.7 | Dec 2022 19.1 | Mar 2023 22.3 | Jun 2023 41.0 | Sep 2023 58.8 | Dec 2023 55.0 | Mar 2024 50.6 | Jun 2024 34.0 | Sep 2024 31.8 | Dec 2024 29.5 | Mar 2025 23.4 | Jun 2025 23.9 | Sep 2025 21.4 | Dec 2025 19.2 | Mar 2026 12.6
- RUPA: Jun 2021 21.8 | Sep 2021 20.5 | Dec 2021 18.4 | Mar 2022 17.2 | Jun 2022 13.6 | Sep 2022 14.7 | Dec 2022 16.4 | Mar 2023 19.3 | Jun 2023 39.8 | Sep 2023 45.5 | Dec 2023 43.4 | Mar 2024 29.5 | Jun 2024 30.7 | Sep 2024 30.0 | Dec 2024 26.2 | Mar 2025 17.8 | Jun 2025 20.6 | Sep 2025 19.9 | Dec 2025 17.0 | Mar 2026 13.3
- NAHARSPING: Jun 2021 20.6 | Sep 2021 8.2 | Dec 2021 5.6 | Mar 2022 4.5 | Jun 2022 2.1 | Sep 2022 2.3 | Dec 2022 2.7 | Mar 2023 4.1 | Jun 2023 8.6 | Sep 2023 40.5 | Dec 2023 41.6 | Mar 2024 -19.3 | Jun 2024 -40.9 | Sep 2024 — | Dec 2024 -103.8 | Mar 2025 67.2 | Jun 2025 60.8 | Sep 2025 30.2 | Dec 2025 19.3 | Mar 2026 33.3


## 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
- Page Industries Ltd (PAGEIND) — market value ₹45.0K Cr; latest fundamentals Mar 2026
- Dollar Industries Ltd (DOLLAR) — market value ₹1.5K Cr; latest fundamentals Mar 2026; includes UNVERIFIED second-feed figures
- Rupa & Company Ltd (RUPA) — market value ₹1.3K Cr; latest fundamentals Mar 2026
- Nahar Spinning Mills Ltd (NAHARSPING) — market value ₹1.0K Cr; latest fundamentals Mar 2026; includes UNVERIFIED second-feed figures

## Source standing of each company

Cross-checked: 2. Unverified: 2. 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 | DOLLAR | Dollar Industries Ltd | too little overlapping reported history to cross-check the second feed
- UNVERIFIED | NAHARSPING | Nahar Spinning Mills 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 - Hosiery/Knitwear sector outperforming NIFTY 500?

Textiles - Hosiery/Knitwear has underperformed NIFTY 500 by 15% over 52 weeks and 3.5% over 13 weeks. 2 of 4 covered companies beat NIFTY on Mansfield relative strength, while 2 of 4 beat the sector itself.

### Which Textiles - Hosiery/Knitwear company is largest by revenue?

Page Industries Ltd leads with revenue of ₹5,248 crore, based on 4 of 4 comparable companies through Mar 2026.

### Which Textiles - Hosiery/Knitwear company is growing fastest?

Dollar Industries Ltd has the fastest current revenue growth at 9.9%, across 4 of 4 comparable companies.

### Which Textiles - Hosiery/Knitwear company has the strongest 4-Factor Sector Score?

Page Industries Ltd ranks first at 62.4/100 with 91% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Textiles - Hosiery/Knitwear company has the lowest comparable PEG?

Rupa & Company Ltd has the lowest comparable PEG at 1.39, among 2 of 4 companies whose earnings and growth are steady enough for the ratio to mean anything.

### How much history does this Textiles - Hosiery/Knitwear 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 - Hosiery/Knitwear index?

The Nifty Textiles - Hosiery/Knitwear index tracks India's listed Textiles - Hosiery/Knitwear 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 - Hosiery/Knitwear sector rather than to its largest constituent. Figures are as of Mar 2026.

### Which are the best Textiles - Hosiery/Knitwear stocks in India?

Ranked by this page's four-factor score, Page Industries Ltd places first among 4 listed Textiles - Hosiery/Knitwear companies, followed by Nahar Spinning Mills 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 - Hosiery/Knitwear stocks are listed in India?

This comparison covers 4 listed Textiles - Hosiery/Knitwear 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 - Hosiery/Knitwear company is the biggest?

Page Industries Ltd is the largest, with trailing-twelve-month revenue of ₹5,248 crore, ahead of Nahar Spinning Mills Ltd at ₹3,218 crore. That covers 4 of 4 companies with comparable reporting through Mar 2026.

### Which Textiles - Hosiery/Knitwear company has the best profit margins?

Page Industries Ltd has the highest operating margin at 21%, from 4 of 4 comparable companies. Rupa & Company Ltd shows the biggest recent improvement, at +1 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which Textiles - Hosiery/Knitwear company makes the most profit?

Page Industries Ltd earns the most, at ₹765 crore of trailing-twelve-month net profit, from 4 of 4 comparable companies. Nahar Spinning Mills Ltd has the fastest profit growth at 61.5%, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Textiles - Hosiery/Knitwear company earns the highest return on capital?

Page Industries Ltd leads on return on capital employed at 64.4%, 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 - Hosiery/Knitwear stock is the cheapest?

On PEG — where a LOWER number is cheaper — Rupa & Company Ltd screens cheapest at 1.39×. Only 2 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 - Hosiery/Knitwear sector beating the market?

Textiles - Hosiery/Knitwear has underperformed NIFTY 500 by 15% over the last 52 weeks and 3.5% 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 - Hosiery/Knitwear stock has the strongest price momentum?

Nahar Spinning 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 - Hosiery/Knitwear company scores highest for research priority?

Page Industries Ltd scores 62.4 out of 100 with 91% evidence confidence, from 14.8 points on growth and earnings, 24 on capital efficiency, 7.9 on valuation and 15.7 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 - Hosiery/Knitwear 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 - Hosiery/Knitwear sector?

The 4 Textiles - Hosiery/Knitwear companies on this page carry ₹48,826 crore of combined market value. Page Industries Ltd is the largest at ₹45,034 crore, about 92% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-05.

### How is the Textiles - Hosiery/Knitwear sector performing?

2 of the 4 covered Textiles - Hosiery/Knitwear companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 15% behind NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-05.

### 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.