Iris Clothings Ltd
IRISDOREMEIris Clothings Ltd's price has outrun its earnings. +96.6% in a year against EPS +23.2% — the market is paying now for delivery later.
The sharpest disagreement: profits are rising, but only −5% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.
The price is in a confirmed uptrend (18 weeks in) while the P/E sits at the 84th percentile of its own 8-year range. Underneath, the last four quarters read improving — profit +52.5% year on year, and −5% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Iris Clothings Ltd trades at ₹61.5, in a confirmed uptrend and 18 weeks into that stage. That is +45.7% against its own 200-day average. It sits at 94% of a 52-week range of ₹28 to ₹64. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 28 straight weeks.
Today the stock is in a confirmed uptrend — week 18 of stage 2, confirmed. At ₹61.5 it trades +45.7% versus its 200-day average and sits at 94% of its 52-week range (₹28–₹64).
Against the market, two honest reads. Cumulative: over the last 7.9 years the stock moved +2,430% while the NIFTY 500 moved +161% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 28 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Story check
Iris Clothings Ltd's story is not scored yet against the markers our research file set on 31 May 2026. Where it sits in its own cycle: MID_CONTRACTION. Our fortnightly research layers last read it on 27 June 2026.
Our read, 31 May 2026. A manufacturer crossing to branded D2C — revenue growth is real, but margin execution has slipped three times in a row.
From the numbers. PE at 61st percentile of 10Y history — not compressed. PE peaked at 80.4x in Jun 2023 and has pulled back 48% to current 42.1x, but this compression occurred as margins fell (OPM 22%→15%) rather than as EPS expanded.…
From the price. Price stage 2, week 18 — above its 200-day line, relative strength rising.
From the research. A manufacturer crossing to branded D2C — revenue growth is real, but margin execution has slipped three times in a row.
🚨 Where they disagree. PE at 61st percentile of 10Y history — not compressed. PE peaked at 80.4x in Jun 2023 and has pulled back 48% to current 42.1x, but this compression occurred as margins fell (OPM 22%→15%) rather than as EPS expanded. The cycle_eps_setup is EARNINGS_DISCONNECT — multiple contracted alongside worsening margins, which is the opposite of a value-entry compression signal.
What is proven. A manufacturer crossing to branded D2C — revenue growth is real, but margin execution has slipped three times in a row.
What is not proven yet. FY26 EBITDA margin at 15.4% — 390 bps below FY25's 19.3% and 160+ bps below the stated November 2025 floor of 17-18%; two consecutive years of declining margins without a stable explanation.
🚨 Layer 1 read, 27 June 2026 — DROP. Real topline growth, but margins slipped three years running and the price already pays for a transition not yet proven. Iris is growing revenue 30%+ on its D2C/distributor pivot, but EBITDA rose only 3.9% as FY26 OPM fell to 15% (390 bps down) and the business burns cash (negative 3-year OCF, WC days 207). With three guidance misses including a breached margin floor and an unexplained 9.77pp promoter stake cut, the EXTREME MoS -59.6% says the market is paying full price for execution that hasn't landed.
What would change Layer 1’s mind. If Q1 FY27 EBITDA margin steps up meaningfully from 15.4% toward the 18% guide AND D2C tracks to its 10%-of-FY27 target, the transition thesis is confirmed and this moves up; if margins stay below 16% and D2C spend accelerates without revenue offset (the bear case), the thesis breaks and it flips to DROP.
The test written in advance. EBITDA margin structural deterioration (not investment-phase) — EBITDA margin structural deterioration (not investment-phase) Q1 FY27 EBITDA margin — must exceed 17% to indicate thesis is on track by the next result.
The test written in advance. D2C execution — unproven ramp vs margin sacrifice — D2C execution — unproven ramp vs margin sacrifice D2C revenue as % of Q1/Q2 FY27 revenue — must reach 7-8% quarterly run-rate to be on track for 10% FY27 annual by the next result.
The test written in advance. EBO execution stagnation continues — EBO execution stagnation continues by the next result.
| Dial | Now | Was | Why it matters | Watch line |
|---|---|---|---|---|
| Distributor Network Expansion | HIGH | — | Distributor count reached 216 across 26 states (up from narrower prior footprint); southern expansion (Telangana, AP, Karnataka)… | Q1 FY27 EBITDA margin — must exceed 17% to indicate thesis is on track |
| D2C Platform Launch | MEDIUM | — | Platform launched Q4 FY26 at 300 pieces/day; targeted to contribute 10% of FY27 revenue (~Rs 25 Cr) with average bill value Rs… | Q1 FY27 EBITDA margin — must exceed 17% to indicate thesis is on track |
| Product Mix Shift (woven + infant wear) | MEDIUM | — | Woven products (pants, shirts, nightsuits) entering as major category diversifying from decade-plus knits-only heritage; infant… | Q1 FY27 EBITDA margin — must exceed 17% to indicate thesis is on track |
| Greenfield Manufacturing Capacity | MEDIUM | — | Rs 50 Cr greenfield capex for 2 lakh sq ft facility; near-term brownfield addition of 4,000 pieces/day already operational… | Q1 FY27 EBITDA margin — must exceed 17% to indicate thesis is on track |
| Export Expansion (Doremi brand + FTA… | LOW_MEDIUM | — | 12 export destinations targeted under Vision 2030; India-FTA opportunities being monitored; raw material cost volatility… | Q1 FY27 EBITDA margin — must exceed 17% to indicate thesis is on track |
Lever 1 · Operating leverage — BUILDING. Distributor count reached 216 across 26 states (up from narrower prior footprint); southern expansion (Telangana, AP, Karnataka) and UP targeted next; Vision 2030 target 300 distributors. What proves it keeps working: Distributor Network Expansion. It stops working if Q1 FY27 EBITDA margin — must exceed 17% to indicate thesis is on track.
Lever 2 · Value-added mix — BUILDING. Platform launched Q4 FY26 at 300 pieces/day; targeted to contribute 10% of FY27 revenue (~Rs 25 Cr) with average bill value Rs 1,500-1,600 and customer acquisition cost Rs 250-300. What proves it keeps working: D2C Platform Launch. It stops working if Q1 FY27 EBITDA margin — must exceed 17% to indicate thesis is on track.
Lever 14 · A bigger market to sell into — BUILDING. Woven products (pants, shirts, nightsuits) entering as major category diversifying from decade-plus knits-only heritage; infant wear targeted to grow from 12-13% to 20% of revenue mix. What proves it keeps working: Product Mix Shift (woven + infant wear). It stops working if Q1 FY27 EBITDA margin — must exceed 17% to indicate thesis is on track.
Lever 6 · Order-book wins — BUILDING. Rs 50 Cr greenfield capex for 2 lakh sq ft facility; near-term brownfield addition of 4,000 pieces/day already operational; management targets Rs 500 Cr combined facility revenue over 2-year horizon. What proves it keeps working: Greenfield Manufacturing Capacity. It stops working if Q1 FY27 EBITDA margin — must exceed 17% to indicate thesis is on track.
Sources: our stock research file (31 May 2026) · quarterly results through Jun 26 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Iris Clothings Ltd reported ₹47.2 Cr of revenue in the Jun 26 quarter, +26.3% year on year. That is the 5th straight quarter of year-on-year growth. Over 13 years it has compounded at 19.8% a year. The last full year, FY26, came in at ₹188 Cr. The last four reported quarters add to ₹201 Cr.
Why this happened. Infant wear is positioned as a higher-margin category. Growing from 12-13% to 20% of mix would shift approximately 7-8pp of revenue to better margins. Woven expansion adds a new category TAM. However, the value-product additions that drove margin compression are also mix changes — the net mix effect is contested and management has not provided segment-level margin disclosure.
FY26 revenue came in at ₹188 Cr (+30.6% on the year), capping 13 years at 19.8% compound. The latest quarter (Jun 26) printed ₹47.2 Cr, +26.3% year on year — the 5th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +32.5% growth against the decade's 19.8% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +31.8% over the last 4 quarters against +24.6%/yr over the last 8 — accelerating; TTM profit +31.9% vs +23.3%/yr — accelerating.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Iris Clothings Ltd's operating margin is 17.0% in the Jun 26 quarter, +3.0 percentage points against the same quarter a year ago. Across 11 fiscal years the operating margin has ranged 6.0% to 23.0%. The current quarter sits inside that band.
Why this happened. The B2B channel is the primary revenue engine in FY26. Distributor additions drove the Q4 revenue spike to Rs 60.5 Cr (+50% YoY). Q3's dealer conference generated forward bookings. This is the lowest-risk catalyst in the mix — it has been consistently delivering across all observed quarters. The risk is saturation once tier-2 and tier-3 geographic coverage is complete.
The latest quarter's operating margin is 17.0%, +3.0 pp against the same quarter a year ago. Across 11 fiscal years the operating margin has ranged 6.0%–23.0%.
Why the margin moved: operating margin went +3.0 pp year on year while gross margin went +1.8 pp — the gain came mostly from the gross line: input costs and pricing.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Iris Clothings Ltd earned ₹4.0 Cr of net profit in the Jun 26 quarter, +52.5% year on year. It is the 8th consecutive quarter of growth. Full-year FY26 profit was ₹16.0 Cr. The 13-year compound rate is 23.8%. That is 8.5% of the quarter's revenue. The same quarter a year earlier earned ₹2.6 Cr.
Jun 26 profit was ₹4.0 Cr, +52.5% year on year — the 8th consecutive quarter of growth. On the full year, FY26 printed ₹16.0 Cr (+23.1%), and the 13-year compound rate is 23.8%.
Why profit moved: revenue contributed +26.3% and the margin +3.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +32.6% vs revenue +32.5%. Profit and revenue are moving roughly in step.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years −5% of Iris Clothings Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−7.0 Cr of operating cash against ₹16.0 Cr of profit. After ₹18.0 Cr of capital spending, ₹−25.0 Cr was left as free cash.
FY26: operating cash of ₹−7.0 Cr against reported profit of ₹16.0 Cr, leaving free cash of ₹−25.0 Cr after ₹18.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −5% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at −5%: the cash cycle stretched 116 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: conversion is below par and the cash cycle has stretched 116 days — the next section's job is to find where the cash is stuck.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Iris Clothings Ltd's cash conversion cycle runs 305 days in FY26, up from 189 days in FY21. Capital spending ran ₹30.0 Cr over the last 3 years. At FY26 sales of ₹188 Cr each day of that cycle holds about ₹0.5 Cr, so roughly ₹157 Cr sits inside the business at any moment.
FY26: debtors at 140 days, inventory at 244 days — roughly 8.0 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 305 days, looser than FY21's 189.
The full loop: cash goes out to suppliers and production on day 0; stock waits 244 days to sell; customers pay about 140 days after that; and suppliers themselves are paid at 79 days — netting out to the 305-day cycle.
In money terms: at FY26 sales of ₹188 Cr, each day of the cycle holds about ₹0.5 Cr — so the 305-day loop keeps roughly ₹157 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹30.0 Cr over the last 3 fiscal years against ₹17.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹7.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified
Iris Clothings Ltd earns a ROCE of 16% in FY26. That is up from a trough of 12% in FY13. Return on invested capital clears the cost of that capital by −1.3 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 8.5% net margin on 0.92× asset turns.
FY26 ROCE is 16%, recovered from a FY13 trough of 12% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 8.5% net margin × 0.92× asset turns × 1.44× balance-sheet leverage ≈ 11.3% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 10.7% − 12.0% = a −1.3 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified
Iris Clothings Ltd carries total debt of ₹34.0 Cr against shareholder equity of ₹142 Cr as of Mar 26, a debt-to-equity of 0.24 — effectively unlevered. On the annual view that ratio went from 0.67 in FY22 to 0.24 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹34.0 Cr against shareholder equity of ₹142 Cr — a debt-to-equity of 0.24. On the annual view, debt-to-equity went from 0.67 (FY22) to 0.24 (FY26). The returns on this page are earned, not borrowed.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Promoters cut 9.8 points of Iris Clothings Ltd over 8 quarters, the biggest move on the register. That takes promoters to 61.2% of the company. Domestic institutions moved +0.7 points over the same window, to 0.7%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Promoters: −9.8 points over 8 quarters to 61.2%; Domestic institutions: +0.7 points over 8 quarters to 0.7%; Foreign institutions: +0.0 points over 8 quarters to 0.0%.
🚨 Why the register moved: promoters drove it (−9.8 points), absorbed on the other side by domestic institutions (+0.7 points) — distribution into the market’s bid.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Iris Clothings Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Iris Clothings Ltd trades at 66.6× P/E, at the pricey end of its own range (84th percentile). Its long-run median P/E is 45.2×, measured across 7.9 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 66.6× is at the pricey end of its own range (84th percentile), against a long-run median of 45.2× measured over 7.9 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
🚨 Why the multiple sits where it does: over the past year annual EPS moved +23.2% against a +96.6% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 5y, of the +29.7%/yr price move, ~+13.9%/yr came from earnings growth and ~+15.8 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.
What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.
Solved at its 29 June 2026 price, Iris Clothings Ltd was paying for profit growth of about 25.7% a year. Profit itself has compounded 23.8% a year over the past 13 years. Today the market pays 66.6× P/E, the 84th percentile of its own 8-year range.
What the two numbers say together. The multiple is full against its own past, and the growth the price is paying for is close to what this company has actually delivered.
How to hold this number: it is a reading of one day's price, taken on 29 June 2026, not a running figure — every other number on this page, the multiple included, is read off the live quote as of 11 September 2026. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements.
Stage: Consistent Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Iris Clothings Ltd reads as consistent on its fundamental arc. Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 16.0% and holding. The read is built from 8 quarters across 4 curves, on partial evidence.
Why it matters: steady curves with healthy returns are the compounding setup — the risk is the price, not the business.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +30.6% | +18.8% | +16.7% | — |
| Profit | +23.1% | +26.0% | +18.0% | — |
| EPS | +23.2% | +25.5% | +20.1% | — |
| Share price | +96.6% | +19.8% | +29.7% | — |
4-Factor Sector Score
64.8/100 — rank 3 of 26 in Textiles - Readymade Apparel · 87% evidence confidence
Iris Clothings Ltd scores 64.8 out of 100 against the 26 companies it is compared with in Textiles - Readymade Apparel, ranking 3. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 22.5 + 15.2 + 7.1 + 20 = 64.8. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Said versus delivered
What Iris Clothings Ltd's management promised, set against what actually arrived — 4 tracked promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.
Greenfield Facility Timeline Appears Extended · 28 July 2026. In October 2024, management said the greenfield capacity expansion would happen over the next couple of years. In July 2026, management said it would only finish planning in the current financial year and target operations by the end of the next financial year, implying a materially longer path to capacity without explaining the apparent delay.
🚨 Margin Stabilization Below Prior Near-Term Target · 28 July 2026. In November 2025, management projected margins of 18%-19% for the next two quarters and 17%-18% for the full year. In July 2026, Q1 FY27 EBITDA margin was 17.12% and the stated consolidated outlook remained only 17%-18% with slight improvement, without reconciling the lower current level with the earlier 18%-19% stabilization target.
Retail Geography Shift Without Reconciliation · 28 July 2026. In November 2025, management affirmed that it was stable with the then-stated Mumbai focus. In July 2026, it identified Hyderabad, Bengaluru, and Chennai as the cities it was targeting over the next couple of years, a meaningful change in retail expansion emphasis that was not explained.
Retail Expansion Stagnation · 12 May 2026. In the Oct 2024 call, management stated they would launch 15 stores by the end of that year and reach 100 stores within three years. However, the May 2026 call reveals the company still only has 7 stores, the same number reported in late 2024, representing a complete stagnation in the physical retail strategy despite prior aggressive commitments.
Every quote above is taken word for word from the company’s own earnings calls.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Kewal Kiran Clothing LtdKKCL | 69.0/100Favorable setup100% evidence | BREAKING OUT | 18.9/35 Revenue 15.9% · PAT 3.2% · OPM change 1 pp 100% evidence | 18.4/25 ROCE 17.2% · OPM 19% 100% evidence | 17.1/20 P/E 20.6× · PEG 0.59 100% evidence | 14.6/20 RS sector 0.5% · RS bench 1.8% · 1Y -5.4%7 of 12 weeks ahead 100% evidence |
| Exact sum: 18.9 + 18.4 + 17.1 + 14.6 = 69 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 2SBC Exports LtdSBC | 68.9/100Favorable setup87% evidence | LEADER | 32.4/35 Revenue 47.3% · PAT 100% · OPM change 3.4 pp 95% evidence | 12.9/25 ROCE 18.2% · OPM 10.8% 95% evidence | 6.6/20 P/E 60.2× · PEG — 50% evidence | 17.0/20 RS sector 46% · RS bench 48.8% · 1Y 136.2%10 of 12 weeks ahead 100% evidence |
| Exact sum: 32.4 + 12.9 + 6.6 + 17 = 68.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 3Iris Clothings Ltdthis pageIRISDOREME | 64.8/100Mixed-positive evidence87% evidence | LEADER | 22.5/35 Revenue 31.8% · PAT 31.9% · OPM change 3 pp 95% evidence | 15.2/25 ROCE 16% · OPM 17% 95% evidence | 7.1/20 P/E 66.6× · PEG — 50% evidence | 20.0/20 RS sector 61.1% · RS bench 63.4% · 1Y 92%12 of 12 weeks ahead 100% evidence |
| Exact sum: 22.5 + 15.2 + 7.1 + 20 = 64.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4Cantabil Retail India LtdCANTABIL | 63.6/100Mixed-positive evidence87% evidence | BREAKING OUT | 22.2/35 Revenue 15.8% · PAT 22.8% · OPM change 2 pp 95% evidence | 18.5/25 ROCE 19.4% · OPM 33% 95% evidence | 12.8/20 P/E 20.6× · PEG — 50% evidence | 10.1/20 RS sector -4.6% · RS bench -3.1% · 1Y -6.4%6 of 12 weeks ahead 100% evidence |
| Exact sum: 22.2 + 18.5 + 12.8 + 10.1 = 63.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 5V2 Retail LtdV2RETAIL | 58.9/100Mixed-positive evidence83% evidence | ASLEEP | 27.4/35 Revenue 63.3% · PAT 100% · OPM change 0 pp 100% evidence | 12.1/25 ROCE 19.3% · OPM 14% 100% evidence | 9.3/20 P/E 50.1× · PEG — 15% evidence | 10.1/20 RS sector 0.6% · RS bench 2% · 1Y 33.2%4 of 12 weeks ahead 100% evidence |
| Exact sum: 27.4 + 12.1 + 9.3 + 10.1 = 58.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 6V-Mart Retail LtdVMART | 57.7/100Mixed-positive evidence93% evidence | LEADER | 25.4/35 Revenue 19.1% · PAT 100% · OPM change 1 pp 100% evidence | 7.4/25 ROCE 13.2% · OPM 15% 100% evidence | 7.8/20 P/E 46.4× · PEG 2.5 65% evidence | 17.1/20 RS sector 15.1% · RS bench 16.1% · 1Y 8.4%12 of 12 weeks ahead 100% evidence |
| Exact sum: 25.4 + 7.4 + 7.8 + 17.1 = 57.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7Arvind Fashions LtdARVINDFASN | 54.8/100Mixed-positive evidence93% evidence | TURNING | 22.9/35 Revenue 14% · PAT 100% · OPM change 0 pp 100% evidence | 15.4/25 ROCE 19.6% · OPM 12% 100% evidence | 9.6/20 P/E 45.5× · PEG 1.95 65% evidence | 6.9/20 RS sector -5% · RS bench -3.9% · 1Y -17.5%1 of 12 weeks ahead 100% evidence |
| Exact sum: 22.9 + 15.4 + 9.6 + 6.9 = 54.8 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -5% and the one-year return is -17.5%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 8Trent LtdTRENT | 53.9/100Mixed-positive evidence93% evidence | FADING | 18.3/35 Revenue 16.9% · PAT 15.6% · OPM change 2 pp 100% evidence | 19.7/25 ROCE 28.3% · OPM 19% 100% evidence | 4.5/20 P/E 81.7× · PEG 5.17 65% evidence | 11.4/20 RS sector -1.2% · RS bench -0.1% · 1Y -24%5 of 12 weeks ahead 100% evidence |
| Exact sum: 18.3 + 19.7 + 4.5 + 11.4 = 53.9 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression. | ||||||
| 9Baazar Style Retail LtdSTYLEBAAZA | 53.4/100Mixed-positive evidence83% evidence | TURNING | 22.9/35 Revenue 34.9% · PAT 100% · OPM change -0.6 pp 100% evidence | 4.1/25 ROCE 7.6% · OPM 14.8% 100% evidence | 8.5/20 P/E 108× · PEG — 15% evidence | 17.9/20 RS sector 20% · RS bench 21.6% · 1Y 12%4 of 12 weeks ahead 100% evidence |
| Exact sum: 22.9 + 4.1 + 8.5 + 17.9 = 53.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 10S P Apparels LtdSPAL | 52.8/100Mixed-positive evidence100% evidence | LEADER | 16.9/35 Revenue 1.6% · PAT 9.3% · OPM change 2 pp 100% evidence | 12.6/25 ROCE 14% · OPM 15% 100% evidence | 4.5/20 P/E 24.5× · PEG 3.72 100% evidence | 18.8/20 RS sector 26.2% · RS bench 28% · 1Y 39.5%12 of 12 weeks ahead 100% evidence |
| Exact sum: 16.9 + 12.6 + 4.5 + 18.8 = 52.8 · Decision use: Price leads the evidence: RS versus the benchmark is 28%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 11Aditya Birla Lifestyle Brands LtdABLBL | 52.5/100Mixed-positive evidence78% evidence | BASING | 20.4/35 Revenue 9.1% · PAT 100% · OPM change 1 pp 100% evidence | 12.6/25 ROCE 15% · OPM 15% 100% evidence | 11.5/20 P/E 47.8× · PEG 1.39 65% evidence | 8.0/20 RS sector — · RS bench -22.5% · 1Y -41%0 of 10 weeks ahead 25% evidence |
| Exact sum: 20.4 + 12.6 + 11.5 + 8 = 52.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12Vishal Mega Mart LtdVMM | 52.1/100Mixed-positive evidence87% evidence | BASING | 23.5/35 Revenue 19.8% · PAT 29.6% · OPM change 0 pp 100% evidence | 12.8/25 ROCE 15.2% · OPM 15% 100% evidence | 4.6/20 P/E 53.4× · PEG 5.39 65% evidence | 11.2/20 RS sector 2.7% · RS bench -16.5% · 1Y -33.3%0 of 10 weeks ahead 70% evidence |
| Exact sum: 23.5 + 12.8 + 4.6 + 11.2 = 52.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 13Bella Casa Fashion & Retail LtdBELLACASA | 51.2/100Mixed-positive evidence61% evidence | 21.9/35 Revenue 21.8% · PAT 37% · OPM change -0.3 pp 53% evidence | 13.6/25 ROCE 17.2% · OPM 8.7% 71% evidence | 11.4/20 P/E 16.6× · PEG — 50% evidence | 4.3/20 RS sector -20.8% · RS bench -31.3% · 1Y -40%0 of 12 weeks ahead to 2026-03-29 70% evidence | |
| Exact sum: 21.9 + 13.6 + 11.4 + 4.3 = 51.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 14Thomas Scott India LtdTHOMASCOTT | 50.5/100Thin evidence · provisional54% evidence | 17.7/35 Revenue 61.5% · PAT 54.4% · OPM change -0.4 pp 53% evidence | 15.4/25 ROCE 20.4% · OPM 11.8% 71% evidence | 10.7/20 P/E 21× · PEG — 15% evidence | 6.7/20 RS sector -5.2% · RS bench -17.3% · 1Y -28.8%1 of 12 weeks ahead to 2026-03-29 70% evidence | |
| Exact sum: 17.7 + 15.4 + 10.7 + 6.7 = 50.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 15Pearl Global Industries LtdPGIL | 50.3/100Mixed-positive evidence82% evidence | BASING | 20.5/35 Revenue 13.7% · PAT 29.4% · OPM change 2 pp 95% evidence | 17.1/25 ROCE 19.9% · OPM 11% 76% evidence | 7.0/20 P/E 35× · PEG — 50% evidence | 5.7/20 RS sector -22% · RS bench 42.1% · 1Y -1.3%4 of 12 weeks ahead 100% evidence |
| Exact sum: 20.5 + 17.1 + 7 + 5.7 = 50.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 16Monte Carlo Fashions LtdMONTECARLO | 49.4/100Mixed-negative evidence73% evidence | TURNING | 16.7/35 Revenue 15.4% · PAT 32.9% · OPM change -4.8 pp 71% evidence | 8.7/25 ROCE 14% · OPM -9% 95% evidence | 13.9/20 P/E 11× · PEG — 50% evidence | 10.1/20 RS sector 0% · RS bench -6% · 1Y -7.5%0 of 10 weeks ahead 70% evidence |
| Exact sum: 16.7 + 8.7 + 13.9 + 10.1 = 49.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 17Sai Silks (Kalamandir) LtdKALAMANDIR | 47.8/100Mixed-negative evidence81% evidence | ASLEEP | 12.8/35 Revenue 4.8% · PAT 20.2% · OPM change -1 pp 95% evidence | 15.3/25 ROCE 14.4% · OPM 14% 95% evidence | 15.0/20 P/E 9.3× · PEG — 50% evidence | 4.7/20 RS sector -16.9% · RS bench -31.5% · 1Y -51.6%0 of 10 weeks ahead 70% evidence |
| Exact sum: 12.8 + 15.3 + 15 + 4.7 = 47.8 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 18Vedant Fashions LtdMANYAVAR | 44.9/100Mixed-negative evidence94% evidence | BREAKING OUT | 10.0/35 Revenue 2% · PAT -2.5% · OPM change 0 pp 100% evidence | 19.4/25 ROCE 22.8% · OPM 43% 100% evidence | 7.9/20 P/E 36.7× · PEG 9.55 100% evidence | 7.6/20 RS sector -32% · RS bench 17.2% · 1Y -19.6%7 of 10 weeks ahead 70% evidence |
| Exact sum: 10 + 19.4 + 7.9 + 7.6 = 44.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 19Raymond Lifestyle LtdRAYMONDLSL | 40.9/100Mixed-negative evidence78% evidence | ASLEEP | 17.9/35 Revenue 9.2% · PAT 4.9% · OPM change 1 pp 74% evidence | 2.5/25 ROCE 3.5% · OPM 6% 100% evidence | 14.9/20 P/E 28.3× · PEG 0.74 65% evidence | 5.6/20 RS sector -8.1% · RS bench -22.4% · 1Y -43.9%0 of 10 weeks ahead 70% evidence |
| Exact sum: 17.9 + 2.5 + 14.9 + 5.6 = 40.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 20Credo Brands Marketing LtdMUFTI | 36.4/100Mixed-negative evidence87% evidence | ASLEEP | 5.3/35 Revenue -2.7% · PAT -33.1% · OPM change -4.7 pp 95% evidence | 15.5/25 ROCE 14.4% · OPM 21.2% 95% evidence | 12.1/20 P/E 10.7× · PEG — 50% evidence | 3.5/20 RS sector -19.3% · RS bench -18.5% · 1Y -42.1%4 of 12 weeks ahead 100% evidence |
| Exact sum: 5.3 + 15.5 + 12.1 + 3.5 = 36.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 21Lux Industries LtdLUXIND | 33.3/100Adverse evidence82% evidence | BASING | 12.1/35 Revenue 10.6% · PAT -31.6% · OPM change 1 pp 95% evidence | 8.2/25 ROCE 8.1% · OPM 7% 76% evidence | 9.1/20 P/E 31.1× · PEG — 50% evidence | 3.9/20 RS sector -7.1% · RS bench -6.1% · 1Y -15.6%2 of 12 weeks ahead 100% evidence |
| Exact sum: 12.1 + 8.2 + 9.1 + 3.9 = 33.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 22Go Fashion (India) LtdGOCOLORS | 32.5/100Adverse evidence81% evidence | ASLEEP | 5.7/35 Revenue -1.6% · PAT -39.1% · OPM change -4 pp 95% evidence | 10.7/25 ROCE 10.8% · OPM 27% 95% evidence | 12.3/20 P/E 32× · PEG — 50% evidence | 3.8/20 RS sector -47.6% · RS bench -19.2% · 1Y -55.5%7 of 10 weeks ahead 70% evidence |
| Exact sum: 5.7 + 10.7 + 12.3 + 3.8 = 32.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 23Aditya Birla Fashion & Retail LtdABFRL | 27.9/100Adverse evidence64% evidence | ASLEEP | 12.8/35 Revenue 11.4% · PAT -77.9% · OPM change -1 pp 71% evidence | 3.1/25 ROCE -3.8% · OPM 5% 76% evidence | 10.0/20 P/E — · PEG — 0% evidence | 2.0/20 RS sector -25.3% · RS bench -24.5% · 1Y -41.3%0 of 12 weeks ahead 100% evidence |
| Exact sum: 12.8 + 3.1 + 10 + 2 = 27.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 24Gokaldas Exports LtdGOKEX | 27.0/100Adverse evidence94% evidence | BREAKING OUT | 9.2/35 Revenue 7.7% · PAT -40.1% · OPM change 0 pp 100% evidence | 6.4/25 ROCE 7.7% · OPM 10% 100% evidence | 1.9/20 P/E 55.9× · PEG 4.98 100% evidence | 9.5/20 RS sector -6.8% · RS bench 5.5% · 1Y 7.2%10 of 10 weeks ahead 70% evidence |
| Exact sum: 9.2 + 6.4 + 1.9 + 9.5 = 27 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 25Kitex Garments LtdKITEX | 18.0/100Adverse evidence79% evidence | BASING | 1.9/35 Revenue -36.5% · PAT -80% · OPM change -11 pp 95% evidence | 4.7/25 ROCE 1.5% · OPM 6% 76% evidence | 9.3/20 P/E — · PEG — 35% evidence | 2.1/20 RS sector -27.7% · RS bench -26.9% · 1Y -32.4%0 of 12 weeks ahead 100% evidence |
| Exact sum: 1.9 + 4.7 + 9.3 + 2.1 = 18 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 26Karnika Industries LtdKARNIKA | 60.8/100Thin evidence · provisional48% evidence | ASLEEP | 20.4/35 Revenue — · PAT — · OPM change 2.3 pp 19% evidence | 21.4/25 ROCE 51.2% · OPM 17.2% 95% evidence | 10.5/20 P/E 26.4× · PEG — 15% evidence | 8.5/20 RS sector -2.4% · RS bench -8.4% · 1Y -37%1 of 10 weeks ahead 70% evidence |
| Exact sum: 20.4 + 21.4 + 10.5 + 8.5 = 60.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Iris Clothings Ltd's share price today?
Iris Clothings Ltd trades at ₹61.5, +96.6% over the past year. The company is valued at ₹1,170 Cr. The stock sits at 94% of its 52-week range of ₹28–₹64, +45.7% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 18 weeks in. — as of 11 September 2026.
What were Iris Clothings Ltd's latest quarterly results?
Iris Clothings Ltd reported revenue of ₹47.2 Cr and net profit of ₹4.0 Cr for the Jun 26 quarter. Revenue rose 26.3% and profit rose 52.5% year on year. Earnings per share were ₹0.21. The operating margin was 17.0%, 3.0 pp higher than a year earlier. — as of 11 September 2026.
What is Iris Clothings Ltd's revenue?
Iris Clothings Ltd reported revenue of ₹47.2 Cr in the Jun 26 quarter, +26.3% year on year. For the full FY26 fiscal year, revenue was ₹188 Cr (+30.6%). Over the last 13 years revenue compounded at 19.8% a year. — as of 11 September 2026.
What is Iris Clothings Ltd's profit?
Iris Clothings Ltd earned ₹4.0 Cr of net profit in the Jun 26 quarter, +52.5% year on year — the 8th straight quarter of growth. Full-year FY26 profit was ₹16.0 Cr. The operating margin ran 17.0% in the latest quarter. — as of 11 September 2026.
What is Iris Clothings Ltd's market cap?
Iris Clothings Ltd's market capitalisation is ₹1,170 Cr at a share price of ₹61.5. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.
What is Iris Clothings Ltd's P/E ratio?
Iris Clothings Ltd trades at a P/E of 66.6×, at the 84th percentile of its own 8-year range, against a long-run median of 45.2×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.
Does Iris Clothings Ltd pay a dividend?
No — Iris Clothings Ltd has recorded a dividend payout of 0% of profit in each of its last 11 reported fiscal years, so there is no payout history to quote. That is a reading of the filed annual statements, not an estimate. — as of 11 September 2026.
Is Iris Clothings Ltd overvalued?
On its own history, Iris Clothings Ltd looks expensive: its P/E of 66.6× sits at the 84th percentile of its 8-year range (long-run median 45.2×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 11 September 2026.
Is Iris Clothings Ltd growing?
Yes — Iris Clothings Ltd is growing: latest-quarter revenue +26.3% year on year, profit +52.5%, and the margin +3.0 pp at 17.0%. The 13-year compound rates are 19.8% (revenue) and 23.8% (profit). The earnings engine currently reads: improving — as of 11 September 2026.
How is Iris Clothings Ltd performing?
Iris Clothings Ltd is in a confirmed uptrend, 18 weeks in. Its latest quarter's revenue rose 26.3% and profit rose 52.5% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 28 weeks. This describes what the data did, not a rating. — as of 11 September 2026.
What stage is Iris Clothings Ltd in?
Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 16.0% and holding. The read comes from the last 12 quarters of growth (revenue growth +31.8% latest, profit growth +31.9% latest, eps growth +32.9% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 11 September 2026.
Is Iris Clothings Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 18 of stage 2), trading +45.7% versus its 200-day average and at 94% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 11 September 2026.
Is Iris Clothings Ltd beating the market?
On recent form, yes — Iris Clothings Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 28 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 7.9 years the stock moved +2,430% against the NIFTY 500's +161% — ahead of the index over the full window. — as of 11 September 2026.
Will Iris Clothings Ltd's share price go up?
This page publishes no price forecast for Iris Clothings Ltd. What it measures instead: the share price is ₹61.5, the price is in a confirmed uptrend 18 weeks in. Its P/E of 66.6× sits at the 84th percentile of its own 8-year range. — as of 11 September 2026.
Who owns Iris Clothings Ltd?
Promoters hold 61.2% of Iris Clothings Ltd, foreign institutions 0.0%, domestic institutions 0.7% and the public 38.1% (latest quarter). The biggest move on the register over the last two years: Promoters cut 9.8 points over 8 quarters. — as of 11 September 2026.
Does Iris Clothings Ltd have too much debt?
No — Iris Clothings Ltd's debt-to-equity is 0.24, and operating profit covers the interest bill 10×. FY26 borrowings were ₹34.0 Cr against equity of ₹142 Cr. The returns on this page are earned, not borrowed — as of 11 September 2026.
What is Iris Clothings Ltd's capex?
Iris Clothings Ltd spent ₹30.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹18.0 Cr, with ₹7.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.
What is Iris Clothings Ltd's cash flow?
Iris Clothings Ltd consumed ₹7.0 Cr of operating cash in FY26 — cash flowed out rather than in (free cash flow: ₹−25.0 Cr). Operating cash was negative while the company reported a profit of ₹16.0 Cr. Cash-flow resolution for India is annual. — as of 11 September 2026.
Is Iris Clothings Ltd's profit real cash?
No — operating cash was negative over the last 3 fiscal years: Iris Clothings Ltd consumed cash while reporting profit. In FY26, operating cash was ₹−7.0 Cr against reported profit of ₹16.0 Cr. Cash-flow resolution is annual — as of 11 September 2026.
Where is Iris Clothings Ltd in its business cycle?
Iris Clothings Ltd's FY26 operating margin was 16.0%, against a 11-year band of 6.0%–23.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 17.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.
What growth does Iris Clothings Ltd's price assume?
At its price on 29 June 2026, Iris Clothings Ltd was priced for profit growth of about 25.7% a year. Profit itself has compounded 23.8% a year over the past 13 years. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 11 September 2026.
What could break the Iris Clothings Ltd story?
The sharpest disagreement: profits are rising, but only −5% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 11 September 2026.
Is Iris Clothings Ltd a stock worth studying right now?
This is not investment advice. The machine read: Iris Clothings Ltd's price has outrun its earnings. +96.6% in a year against EPS +23.2% — the market is paying now for delivery later. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.
Not SEBI Registered !! Not Investment advice !!