# Karnika Industries share price today (Karnika Industries Ltd, NSE: KARNIKA)

> Karnika Industries share price today: ₹134.95 at the NSE close on 4 November 2026, down 14.9% in a year. Karnika Industries (NSE: KARNIKA) is worth ₹839 crore, trades at a P/E of 25.9 and has closed between ₹108.15 and ₹158.50 over the past 52 weeks. > Karnika Industries Ltd's earnings have grown faster than its share price. Earnings per share grew +47.8% in a year while the price moved −14.9%. KARNIKA · Textiles - Readymade Apparel · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/karnika-industries-ltd

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## Key numbers

- Price: ₹134.95 (−14.9% in a year)
- P/E: 25.9× (lower than 78% of the last 3 years)
- Revenue (Sep 2026): ₹82.0 Cr (+17.1% on a year ago)
- Profit (Sep 2026): ₹11.0 Cr (+22.2% on a year ago)
- Operating margin: 19.0% (−2.0 points on a year ago)
- ROCE: 30%, FY26

The main question: profits are rising, but only 33% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the Karnika Industries share price today? Karnika Industries Ltd's share price was ₹134.95 at the close on 4 November 2026. It has been falling for 17 weeks. That is 8.3% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹108 and ₹159, and at that close it sat 53% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 7 weeks in a row. Over the last 3.1 years the share price moved +732% while the NIFTY 500 moved +26%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Karnika Industries this quarter? Three changes stood out: profit up on a year earlier for 5 quarters in a row (every quarter we can compare), revenue up on a year earlier for 4 quarters in a row and highest quarterly profit in 9 quarters. 1. Profit up on a year earlier for 5 quarters in a row (every quarter we can compare) In the September 2026 quarter profit was ₹11 crore, +22.2% on a year earlier. Why: Profit rose because the Puja buying window brought in more corporate orders for Karnika own-brand and new white-label goods. Next results: check whether the share of sales left after running costs holds after yarn, dyeing and processing costs rise, and whether price rises cover those costs. From the earnings call on 13 Oct 2026. 2. Revenue up on a year earlier for 4 quarters in a row In the September 2026 quarter revenue was ₹82 crore, +17.1% on a year earlier. Why: Revenue rose because the Puja buying window let corporate accounts buy both Karnika own-brand products and newly offered white-label goods. From the earnings call on 13 Oct 2026. 3. Highest quarterly profit in 9 quarters Profit of ₹11 crore in the September 2026 quarter is the highest of the last 9 quarters. Why: Profit hit a record as Kidzcity became the main growth driver, alongside the older Karnika wholesale business and its consumer channels. From the earnings call on 13 Oct 2026. ## What are Karnika Industries' latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Karnika Industries reported revenue of ₹82.0 crore, up 17.1% from ₹70.0 crore a year earlier, and a profit of ₹11.0 crore, up 22.2% from ₹9.00 crore. ### Karnika Industries results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹82.0 crore | ₹70.0 crore | +17.1% |
| Profit | ₹11.0 crore | ₹9.00 crore | +22.2% |
| Earnings per share | ₹1.75 | ₹1.51 | +15.9% |
| Operating margin | 19.0% | 21.0% | −2.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Karnika Industries' management discussed these results on a call held on 13 October 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Karnika Industries share price history? Karnika Industries closed at ₹134.95 on 4 November 2026, down 14.9% from ₹158.50 a year earlier (7 November 2025) and up 696.2% over three years. Its highest weekly close since October 2023 was ₹202.00 on 29 August 2025. ### Karnika Industries share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹133.40 | +1.2% |
| 1 month ago · 1 Oct 2026 | ₹123.70 | +9.1% |
| 6 months ago · 8 May 2026 | ₹130.00 | +3.8% |
| 1 year ago · 7 Nov 2025 | ₹158.50 | −14.9% |
| 3 years ago · 3 Nov 2023 | ₹16.95 | +696.2% |
| Earliest weekly close in our records · 13 Oct 2023 | ₹16.22 | +732.0% |
| Highest weekly close since October 2023 · 29 Aug 2025 | ₹202.00 | −33.2% |
| Lowest weekly close since October 2023 · 27 Oct 2023 | ₹15.80 | +754.1% |
| 52-week high (weekly close) · 7 Nov 2025 | ₹158.50 | −14.9% |
| 52-week low (weekly close) · 27 Mar 2026 | ₹108.15 | +24.8% |

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (163 weekly closes from 13 October 2023 to 4 November 2026.)

## What is the latest news on Karnika Industries? 4 Nov 2026: Karnika Industries closed at ₹134.95, up 1.2% on the week and up 9.1% on the month. 13 Oct 2026: Karnika Industries held its results call for July to September 2026. Management guided: Consolidated revenue and profit before tax yearly growth of 30%-35% through FY28; operating margin range of 17%-20%. ### Earlier

- Results for July to September 2026: Revenue up 17.1% and profit up 22.2% on a year earlier. ## What dividend does Karnika Industries pay? The NSE corporate-actions record has no dividend for Karnika Industries since its first NSE close in our records (13 October 2023), so this page cannot show amounts per share. Yes. Karnika Industries Ltd paid out 2% of its profit as dividends in FY26, and it paid a dividend in 2 of its last 6 reported years. (From the NSE corporate-actions record, read 5 November 2026.)

## What did Karnika Industries management say on the latest results call? On the call for July to September 2026, held on 13 October 2026, Karnika Industries' management guided: Consolidated revenue and profit before tax yearly growth of 30%-35% through FY28; operating margin range of 17%-20%. > “Looking ahead, management has guided towards 30% to 35% CAGR in revenue and profit before tax through FY28, while maintaining an EBITDA margin range of 17% to 20%.”
> Niranjan Mundhra, on the call for July to September 2026

### What management guided

- Karnika growth of 20%-25% year on year and debtor-cycle goal of 90-100 days. - FY27-FY28 rollout goal of 50-55 kiosks and 50 EBOs; cross-city exchange technology expected by February or March. - SIS capital spending ₹2-3 lakh per store, inventory ₹3-5 lakh for around 1,000 pieces and 9-12 month payback; Brands of Brand capital spending and inventory ₹10-15 lakh each. - Brands of Brand goal of ₹50 lakh annual revenue per outlet and 13%-14% margin; MRP ₹799-1,499, with 12 licensed brands and ₹6-8 crore in minimum guarantees. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/56529-13-Oct-2026.pdf). (From the call for July to September 2026, 13 October 2026.)

## What to watch in Karnika Industries' next results? When Karnika Industries reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: Kidzcity revenue delivery against the FY27 goal and the contribution from shop-in-shop, aggregation and corporate sales. - What to check (from the call)
- Kidzcity revenue delivery against the FY27 goal and the contribution from shop-in-shop, aggregation and corporate sales. - Brands of Brand launch and airport lease progress; check whether the new format moves from concept to operating sites. - Operating margin resilience after yarn, dyeing and processing costs; assess whether pass-through offsets input pressure. - Working-capital days and B2B collections; check progress toward the stated debtor-cycle goal alongside Kidzcity inventory requirements. ## Which stock lists is Karnika Industries on? Karnika Industries is not on any of our India lists this week. ## Is Karnika Industries profitable? Karnika Industries Ltd earned ₹11.0 Cr of net profit in the Sep 2026 quarter, +22.2% on the same quarter a year earlier. That is the 5th quarter in a row of profit growth. Full-year FY26 profit was ₹27.0 Cr. Over 5 years profit has grown 93.3% a year on average. That is 13.4% of the quarter's revenue. The same quarter a year earlier earned ₹9.0 Cr. For the full year, FY26 profit was ₹27.0 Cr (+50.0% on the year before). Why profit moved: revenue changed +17.1% on a year earlier and the margin moved −2.0 percentage points. Sales did the work while the margin got thinner. On average over the last four quarters, profit changed +172.2% and revenue +100.2%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Karnika Industries make, and is it growing? Karnika Industries Ltd reported ₹82.0 Cr of revenue in the Sep 2026 quarter, +17.1% on the same quarter a year earlier. That is the 4th quarter in a row with growth on the year before. Over 5 years it has grown 36.7% a year on average. The last full year, FY26, came in at ₹224 Cr. The last four reported quarters add to ₹263 Cr. FY26 revenue was ₹224 Cr, +31.0% on the year before. Recent pace: the last four quarters grew +100.2% on average, against 36.7% a year over the longer run, so this year is growing faster than its own long-run rate. ## How much of every ₹100 of sales does Karnika Industries keep? Karnika Industries Ltd's operating margin was 19.0% in the Sep 2026 quarter, 2.0 percentage points lower than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 6 years it has been between 4.4% and 16.0%. The latest quarter is above every full year in that period. Why the margin moved: operating margin changed −2.2 percentage points on the year while gross margin changed +0.1 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales. As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead. ## Is Karnika Industries' profit turning into cash? Over the last 3 years, 33% of Karnika Industries Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 it brought in ₹21.0 Cr of operating cash against ₹27.0 Cr of profit. After ₹1.0 Cr of spending on assets, ₹20.0 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 33% of profit came in as cash: the cash cycle got 63 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. When less than 70% of profit comes in as cash, it is the thing to watch on this page. What to look at next: less of the profit turns into cash than it should, and the cash cycle is 63 days longer. The next section looks at where the cash is stuck. ## Where does Karnika Industries' cash go? Karnika Industries Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 198 days in FY26, up from 135 days in FY21. It spent ₹8.0 Cr on assets over the last 3 years. Customers take 110 days to pay, and stock sits for 130 days on average. At FY26 sales of ₹224 Cr, each day of that cycle ties up about ₹0.6 Cr, so roughly ₹122 Cr is tied up in the business at any time. FY26: customers took 110 days to pay and stock sat for 130 days, about 4.3 months of sales sitting as stock, for a full cycle of 198 days, longer than FY21's 135. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 130 days. Customers pay about 110 days after that. Suppliers are paid at 42 days. Together that makes the 198-day cycle. Spending on assets: ₹8.0 Cr over the last 3 years, against ₹4.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹0.0 Cr (FY26): assets paid for that are not earning yet. In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit. ## What is Karnika Industries' P/E ratio, and how does it compare with its own history? Karnika Industries Ltd's P/E is 25.9×, near the low end of its own history: it has been lower only 22% of the time. Its usual P/E (the middle reading) is 33.3×, over 3 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks. Why the multiple is where it is: over the past year earnings per share moved +47.8% while the price moved −14.9%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 3 years the price moved +99.7% a year; about +58.2% a year came from earnings growth and about +41.5 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. A quarterly PEG curve, which only the second data source has, is not shown on this page: its two data sources disagree by up to 21% on reported income across 4 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Is the Karnika Industries business getting better or worse? Karnika Industries Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 5 quarters of 1 measure, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result. The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## How much does Karnika Industries earn on its capital? Karnika Industries Ltd earned a ROCE of 30% in FY26. That is up from a low of 21% in FY24. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 12.1% net margin and 1.19× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 12.1% net margin × 1.19× asset turnover × 1.99× leverage (assets divided by equity) ≈ 28.7% on equity. The margin does its share; borrowing is a big part of it. The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 21% on reported income across 4 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Does Karnika Industries have too much debt? Karnika Industries Ltd had ₹70.0 Cr of borrowings against ₹95.0 Cr of equity in FY26, so its debt is 0.74× its equity. Its operating profit is 7 times its interest bill. Over 5 years borrowings went from ₹16.0 Cr to ₹70.0 Cr. Over the last 3 of those years it spent ₹8.0 Cr on assets. Part of the spending on assets is being paid for with borrowed money. The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 21% on reported income across 4 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What is the Karnika Industries shareholding pattern? Domestic institutions raised their stake in Karnika Industries Ltd by 4.1 percentage points over 7 quarters, the biggest change among its owners. Domestic institutions now own 4.1% of the company. Promoters moved +0.0 points over the same period, to 73.4%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Why the owners changed: domestic institutions drove it (+4.1 points). They raised their stake step by step. ## How far is Karnika Industries from balance-sheet trouble? For Karnika Industries Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Karnika Industries rank in its industry? 70.2 out of 100, rank 2 of 26 in Textiles - Readymade Apparel, with 67% of the evidence available. Karnika Industries Ltd scores 70.2 out of 100 against the 26 companies it is compared with in Textiles - Readymade Apparel, ranking 2. Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. The four parts add up to the total exactly: 26.3 + 20.8 + 11.3 + 11.8 = 70.2. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Karnika Industries compared with? Karnika Industries ranks 2 of 26 Textiles - Readymade Apparel companies on the 4-Factor Sector Score, with 70.2 out of 100. 1. [Cantabil Retail India Ltd](https://www.sectoralpha.in/stocks/cantabil-retail-india-ltd) CANTABIL · turning · Most evidence points up · 96% evidence 74.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.9/35 · Revenue 15.8% · Profit 22.8% · Operating margin change 2 points · 88% evidence Capital efficiency 20.3/25 · ROCE 19.4% · Operating margin 33% · 100% evidence Valuation 15.9/20 · P/E 21.7× · PEG 0.75 · 100% evidence Relative strength 15.4/20 · Lead over its industry 9.5% · Lead over NIFTY 500 6.5% · 1 year -2.8% · 100% evidence · 8 of 12 weeks ahead Exact sum: 22.9 + 20.3 + 15.9 + 15.4 = 74.5 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. Karnika Industries Ltd this page KARNIKA · breaking out · Most evidence points up · 67% evidence 70.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.3/35 · Revenue 47.8% · Profit 68.4% · Operating margin change -2 points · 95% evidence Capital efficiency 20.8/25 · ROCE 29.6% · Operating margin 19% · 76% evidence Valuation 11.3/20 · P/E 25.5× · PEG n/a · 50% evidence Relative strength 11.8/20 · Lead over its industry n/a · Lead over NIFTY 500 11.8% · 1 year -21.1% · 25% evidence · 5 of 12 weeks ahead Exact sum: 26.3 + 20.8 + 11.3 + 11.8 = 70.2 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [Thomas Scott India Ltd](https://www.sectoralpha.in/stocks/thomas-scott-india-ltd) THOMASCOTT · Most evidence points up · 69% evidence 67.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 34.2/43.75 · Revenue 61.5% · Profit 54.4% · Operating margin change 0.7 points · 88% evidence Capital efficiency 17.6/31.25 · ROCE 20.4% · Operating margin 12% · 100% evidence Valuation 15.3/25 · P/E 21× · PEG 1.14 · 65% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 34.2 + 17.6 + 15.3 = 67.1 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. 4. [Trent Ltd](https://www.sectoralpha.in/stocks/trent-ltd) TRENT · turning · Most evidence points up · 93% evidence 66.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.9/35 · Revenue 18.4% · Profit 18.8% · Operating margin change 1 points · 100% evidence Capital efficiency 20.9/25 · ROCE 28.3% · Operating margin 18% · 100% evidence Valuation 4.2/20 · P/E 84× · PEG 5.04 · 65% evidence Relative strength 17.6/20 · Lead over its industry 17.1% · Lead over NIFTY 500 13.5% · 1 year -3.6% · 100% evidence · 4 of 12 weeks ahead Exact sum: 23.9 + 20.9 + 4.2 + 17.6 = 66.6 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 5. [SBC Exports Ltd](https://www.sectoralpha.in/stocks/sbc-exports-ltd) SBC · leader · Evidence leans up · 82% evidence 64.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.8/35 · Revenue 63.4% · Profit 100% · Operating margin change -3 points · 95% evidence Capital efficiency 14.9/25 · ROCE 18.4% · Operating margin 9% · 76% evidence Valuation 5.8/20 · P/E 82.3× · PEG n/a · 50% evidence Relative strength 20.0/20 · Lead over its industry 89% · Lead over NIFTY 500 82.5% · 1 year 176.9% · 100% evidence · 10 of 12 weeks ahead Exact sum: 23.8 + 14.9 + 5.8 + 20 = 64.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [V-Mart Retail Ltd](https://www.sectoralpha.in/stocks/v-mart-retail-ltd) VMART · turning · Evidence leans up · 89% evidence 63.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.8/35 · Revenue 19.1% · Profit 100% · Operating margin change 1 points · 88% evidence Capital efficiency 10.5/25 · ROCE 13.2% · Operating margin 15% · 100% evidence Valuation 11.7/20 · P/E 42.4× · PEG 1.03 · 65% evidence Relative strength 14.7/20 · Lead over its industry 14.4% · Lead over NIFTY 500 10.5% · 1 year -10.9% · 100% evidence · 9 of 12 weeks ahead Exact sum: 26.8 + 10.5 + 11.7 + 14.7 = 63.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Pearl Global Industries Ltd](https://www.sectoralpha.in/stocks/pearl-global-industries-ltd) PGIL · leader · Evidence leans up · 78% evidence 61.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.3/35 · Revenue 13.7% · Profit 29.4% · Operating margin change 2 points · 83% evidence Capital efficiency 17.0/25 · ROCE 19.9% · Operating margin 11% · 76% evidence Valuation 6.4/20 · P/E 35.2× · PEG n/a · 50% evidence Relative strength 17.6/20 · Lead over its industry 39.1% · Lead over NIFTY 500 34.6% · 1 year 80.7% · 100% evidence · 12 of 12 weeks ahead Exact sum: 20.3 + 17 + 6.4 + 17.6 = 61.3 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. 8. [Bella Casa Fashion & Retail Ltd](https://www.sectoralpha.in/stocks/bella-casa-fashion-retail-ltd) BELLACASA · Evidence leans up · 76% evidence 58.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.9/43.75 · Revenue 21.8% · Profit 37% · Operating margin change -4.4 points · 88% evidence Capital efficiency 14.9/31.25 · ROCE 17.2% · Operating margin 3.8% · 100% evidence Valuation 20.1/25 · P/E 16.6× · PEG 0.45 · 100% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 23.9 + 14.9 + 20.1 = 58.9 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. 9. [Aditya Birla Lifestyle Brands Ltd](https://www.sectoralpha.in/stocks/aditya-birla-lifestyle-brands-ltd) ABLBL · quiet · Evidence leans up · 78% evidence 55.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.5/35 · Revenue 10.9% · Profit 42.1% · Operating margin change 0 points · 100% evidence Capital efficiency 13.0/25 · ROCE 15% · Operating margin 16% · 100% evidence Valuation 11.6/20 · P/E 35.4× · PEG 1.05 · 65% evidence Relative strength 8.1/20 · Lead over its industry n/a · Lead over NIFTY 500 -26.5% · 1 year -47.2% · 25% evidence · 0 of 12 weeks ahead Exact sum: 22.5 + 13 + 11.6 + 8.1 = 55.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [Baazar Style Retail Ltd](https://www.sectoralpha.in/stocks/baazar-style-retail-ltd) STYLEBAAZA · breaking out · Evidence leans up · 79% evidence 54.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.1/35 · Revenue 34.9% · Profit 100% · Operating margin change -0.6 points · 88% evidence Capital efficiency 5.7/25 · ROCE 7.6% · Operating margin 14.8% · 100% evidence Valuation 8.5/20 · P/E 98.5× · PEG n/a · 15% evidence Relative strength 17.3/20 · Lead over its industry 16.3% · Lead over NIFTY 500 12.8% · 1 year 11.4% · 100% evidence · 11 of 12 weeks ahead Exact sum: 23.1 + 5.7 + 8.5 + 17.3 = 54.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Iris Clothings Ltd](https://www.sectoralpha.in/stocks/iris-clothings-ltd) IRISDOREME · leader · Evidence leans up · 100% evidence 54.2 out of 100 Growth Capital Valuation Relative
12. [Sai Silks (Kalamandir) Ltd](https://www.sectoralpha.in/stocks/sai-silks-kalamandirltd) KALAMANDIR · basing · Evidence leans up · 81% evidence 53.6 out of 100 Growth Capital Valuation Relative
13. [Kewal Kiran Clothing Ltd](https://www.sectoralpha.in/stocks/kewal-kiran-clothing-ltd) KKCL · quiet · Evidence leans up · 78% evidence 53.2 out of 100 Growth Capital Valuation Relative
14. [V2 Retail Ltd](https://www.sectoralpha.in/stocks/v2-retail-ltd) V2RETAIL · quiet · Evidence leans up · 79% evidence 52.7 out of 100 Growth Capital Valuation Relative
15. [Arvind Fashions Ltd](https://www.sectoralpha.in/stocks/arvind-fashions-ltd) ARVINDFASN · quiet · Evidence leans up · 89% evidence 52.2 out of 100 Growth Capital Valuation Relative
16. [Monte Carlo Fashions Ltd](https://www.sectoralpha.in/stocks/monte-carlo-fashions-ltd) MONTECARLO · turning · Evidence leans up · 73% evidence 50.5 out of 100 Growth Capital Valuation Relative
17. [Vishal Mega Mart Ltd](https://www.sectoralpha.in/stocks/vishal-mega-mart-ltd) VMM · quiet · Evidence leans up · 78% evidence 50.3 out of 100 Growth Capital Valuation Relative
18. [Vedant Fashions Ltd](https://www.sectoralpha.in/stocks/vedant-fashions-ltd) MANYAVAR · breaking out · Evidence leans down · 81% evidence 49.4 out of 100 Growth Capital Valuation Relative
19. [Credo Brands Marketing Ltd](https://www.sectoralpha.in/stocks/credo-brands-marketing-ltd) MUFTI · Evidence leans down · 76% evidence 47.2 out of 100 Growth Capital Valuation Relative
20. [S P Apparels Ltd](https://www.sectoralpha.in/stocks/s-p-apparels-ltd) SPAL · quiet · Evidence leans down · 96% evidence 42.3 out of 100 Growth Capital Valuation Relative
21. [Lux Industries Ltd](https://www.sectoralpha.in/stocks/lux-industries-ltd) LUXIND · quiet · Evidence leans down · 78% evidence 41.6 out of 100 Growth Capital Valuation Relative
22. [Raymond Lifestyle Ltd](https://www.sectoralpha.in/stocks/raymond-lifestyle-ltd) RAYMONDLSL · quiet · Evidence leans down · 78% evidence 39.1 out of 100 Growth Capital Valuation Relative
23. [Go Fashion (India) Ltd](https://www.sectoralpha.in/stocks/go-fashion-indialtd) GOCOLORS · quiet · Evidence leans down · 75% evidence 35.7 out of 100 Growth Capital Valuation Relative
24. [Gokaldas Exports Ltd](https://www.sectoralpha.in/stocks/gokaldas-exports-ltd) GOKEX · quiet · Most evidence points down · 81% evidence 28.3 out of 100 Growth Capital Valuation Relative
25. [Aditya Birla Fashion & Retail Ltd](https://www.sectoralpha.in/stocks/aditya-birla-fashion-retail-ltd) ABFRL · quiet · Most evidence points down · 61% evidence 27.6 out of 100 Growth Capital Valuation Relative
26. [Kitex Garments Ltd](https://www.sectoralpha.in/stocks/kitex-garments-ltd) KITEX · basing · Most evidence points down · 68% evidence 21.0 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. 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 path the industry 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 growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Textiles - Readymade Apparel](https://www.sectoralpha.in/sectors/textiles-readymade-apparel), all 26 compared on one page. ## Which companies are close to Karnika Industries in size? Karnika Industries is the 23rd largest of 26 Textiles - Readymade Apparel companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Monte Carlo Fashions, Iris Clothings and Sai Silks (Kalamandir). Just below it: Credo Brands Marketing, Thomas Scott India and Bella Casa Fashion & Retail. ### Textiles - Readymade Apparel companies close in size

1. [Monte Carlo Fashions Ltd](https://www.sectoralpha.in/stocks/monte-carlo-fashions-ltd) ₹1,055 crore
2. [Iris Clothings Ltd](https://www.sectoralpha.in/stocks/iris-clothings-ltd) ₹1,032 crore
3. [Sai Silks (Kalamandir) Ltd](https://www.sectoralpha.in/stocks/sai-silks-kalamandirltd) ₹996 crore
4. Karnika Industries Ltd ₹827 crore
5. [Credo Brands Marketing Ltd](https://www.sectoralpha.in/stocks/credo-brands-marketing-ltd) ₹472 crore
6. [Thomas Scott India Ltd](https://www.sectoralpha.in/stocks/thomas-scott-india-ltd) ₹369 crore
7. [Bella Casa Fashion & Retail Ltd](https://www.sectoralpha.in/stocks/bella-casa-fashion-retail-ltd) ₹330 crore

[All 26 Textiles - Readymade Apparel companies, largest first](https://www.sectoralpha.in/sectors/textiles-readymade-apparel#all-companies)

### Companies close in size in other industries

1. [Sancode Technologies Ltd](https://www.sectoralpha.in/stocks/sancode-technologies-ltd) ₹832 crore · IT - Software
2. [Max India Ltd](https://www.sectoralpha.in/stocks/max-india-ltd) ₹829 crore · Finance - Holding Company
3. Karnika Industries Ltd ₹827 crore
4. [Pudumjee Paper Products Ltd](https://www.sectoralpha.in/stocks/pudumjee-paper-products-ltd) ₹827 crore · Paper
5. [Vilas Transcore Ltd](https://www.sectoralpha.in/stocks/vilas-transcore-ltd) ₹827 crore · Capital Goods - Transformers

## What else do people ask about Karnika Industries? ### What is Karnika Industries's share price today? Karnika Industries Ltd's share price is ₹134.95, −14.9% over the past year. The whole company is worth ₹839 Cr on the market. In the last 52 weeks it traded between ₹108 to ₹159; today it is 53% of the way up from the low, 8.3% above its 200-day average (as of 4 November 2026). ### What were Karnika Industries's latest quarterly results? Karnika Industries Ltd reported revenue of ₹82.0 Cr and net profit of ₹11.0 Cr for the Sep 2026 quarter. Revenue rose 17.1% and profit rose 22.2% compared with a year earlier. Earnings per share were ₹1.75. The operating margin was 19.0%, 2.0 percentage points lower than a year earlier (as of 4 November 2026). ### What is Karnika Industries's market cap? Karnika Industries Ltd's market capitalisation is ₹839 Cr at a share price of ₹134.95. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is Karnika Industries performing? Karnika Industries Ltd's share price has been falling for 17 weeks. In its latest quarter, revenue rose 17.1% and profit rose 22.2% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 7 weeks running (as of 4 November 2026). ### Will Karnika Industries's share price go up? This page does not forecast Karnika Industries Ltd's share price. What it shows instead: the share price is ₹134.95, and it has been falling for 17 weeks. Its P/E of 25.9× is higher than 22% of its own last 3 years (as of 4 November 2026). ### Who owns Karnika Industries? Promoters own 73.4% of Karnika Industries Ltd, foreign institutions 0.0%, domestic institutions 4.1% and the public 22.5% (latest quarter). The biggest change over the last two years: Domestic institutions raised their stake by 4.1 percentage points over 7 quarters (as of 4 November 2026). ### Where is Karnika Industries in its business cycle? Karnika Industries Ltd's FY26 operating margin was 16.0%, against a 6-year range of 4.4% to 16.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 19.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the Karnika Industries story? The main question: profits are rising, but only 33% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is Karnika Industries a stock worth studying right now? What the numbers show: Karnika Industries Ltd's earnings have grown faster than its share price. Earnings per share grew +47.8% in a year while the price moved −14.9%. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a Karnika Industries share price forecast for 2026? What management itself guided: Consolidated revenue and profit before tax yearly growth of 30%-35% through FY28; operating margin range of 17%-20%. This is research, not advice. We’re not SEBI-registered.