Borana Weaves Ltd (BORANA) — share price & stock analysis

Market cap

₹820 Cr

P/E

12.7×

ROE

35.0%

Book value / share

₹106

Revenue (FY26)

₹389 Cr

Profit after tax (FY26)

₹65 Cr

Weinstein stage

Stage 2 (32 weeks)

Data as of

1 July 2026

5 of the 5 things we track are currently moving the right way — nearly everything is pulling in the same direction.

Where the levels actually stand: ROCE 33% — a high-quality engine; effectively no debt; margins at an all-time high. Momentum says which way things are moving; these say where they are.

Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, sales and margins count double.

An uptrend that has held for 32 weeks

Every stock cycles through the same four seasons — a flat base (stage 1), an advance (2), a top (3), a decline (4). Right now this one is in Stage 2: advancing, 32 weeks in, confirmed.stage

The price sits above its rising 200-day average (₹312 today) — trends like this persist more often than they reverse, which is why the system rides them instead of guessing the top.dma_200

Beating NIFTY 500 for 11 weeks — relative strength is the market’s live opinion, and right now it is on this stock’s side.rs_mansfield

What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200

Profits have grown in 4 of the last 4 years — compounding so far, on a short record

Over 4 years, sales went from ₹42.0 Cr to ₹389 Cr (about 75% a year), and profit from ₹2.0 Cr to ₹65.0 Cr.revenuenet_profit

Margins widened 11.8 points along the way — growth with improving economics.operating_profit

Sales jumped 28% last quarter — the 5th straight quarter of growth

Mar 26 sales were ₹101 Cr, up 28% on the same quarter last year.revenue

That makes 5 quarters of growth in a row — this is a trend, not a blip.revenue

Margins are widening — 22% → 25% in a year

Of every ₹100 of sales, the company keeps ₹25.4 as operating profit (a year ago it kept ₹21.7).opm_pct

Zoom out and this is the page's quiet hero: annual operating margin bottomed at 11.9% in FY22 and has been rebuilt to 23.7% — that recovery, not sales alone, is what powers the profit growth elsewhere on this page.operating_profit

The gross margin moved the same way (38% → 45%), so this is about input costs and pricing power — the raw-material equation improved.gpm_pctopm_pct

Profit exploded 55% — mostly from selling more

Mar 26 profit after tax was ₹17.0 Cr, up 55% year on year.net_profit

Profits on paper, cash lagging behind

Over the last 5 profitable years, the business reported ₹147 Cr of profit and collected ₹81.0 Cr of operating cash — about 55% conversion.operating_cash_flownet_profit

The wrinkle is the latest year: FY26 collected ₹37.0 Cr against ₹65.0 Cr of reported profit — about 57%. One year isn’t a trend, but it is the line to watch.operating_cash_flownet_profit

The cash cycle is stretching — more money stuck in the pipeline

One rupee now takes about 98 days to go out the door as materials and come back as collected cash — up from 72 days the year before.cash_conversion_cycle

The biggest mover: inventory sitting longer in the warehouse (52 → 76 days).inventory_days

Building hard — new capacity is under construction

The productive asset base has gone from ₹16.0 Cr (FY22) to ₹148 Cr, with another ₹81.0 Cr of capacity under construction right now.fixed_assetscwip

Work-in-progress is 55% of the existing asset base — that is a serious bet on future demand. Capacity like this shows up in sales with a lag; it is tomorrow’s growth being paid for today.cwip

The build is bigger than the cash engine: investing outflows (₹234 Cr) exceeded operating cash (₹82.0 Cr) over the last 3 years — the difference comes from debt or shareholders.investing_cash_flowoperating_cash_flow

Almost no debt — this company cannot be killed by a bad year

For every ₹100 shareholders have put in (and left in), the company has borrowed ₹25 — total borrowings have grown from ₹28.0 Cr to ₹71.0 Cr over the window.borrowings

Institutions have been lightening up

Promoters hold 65.2%, essentially unchanged. Foreign funds own 2.6%, domestic funds 2.6%.promoters_pctfiis_pctdiis_pct

Meanwhile domestic funds have been the sellers — from 7.0% to 2.6% over the window. Someone on the other side of the table disagrees; both sides count.diis_pct

The numbers earn a deeper study — and watch the one thing that matters

The numbers lean positive, and the price is roughly fair to the delivery so far.

Best thing in the data: debt improving (0.69× → 0.25×).borrowings

Biggest worry: free cash flow falling (₹16.0 Cr → ₹−142 Cr).operating_cash_flow

One dissent worth hearing: our technicals lens reads negative — “Technicals bearish with 35% confidence”. When a lens disagrees with the committee, it is usually pointing at the thing that breaks first.

Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.

Straight answers from the data