Mafatlal Industries Limited is a 121‑year‑old Indian textiles and lifestyle company part of the Arvind Mafatlal Group, operating in traditional and technical textiles, uniform solutions, hygiene products, digital infrastructure and consumer durables through a mix of B2B and B2C channels.

9MFY26 revenue from operations grew 26.7% year‑on‑year to INR 2,987.2 crore driven by large orders in textiles and consumer durables, with operating EBITDA rising materially to INR 96.5 crore demonstrating improved operating leverage on an asset‑light base.

The company has transitioned to an asset‑light model with manufacturing contribution falling to ~7% and outsourcing at ~93% in 9MFY26, reducing fixed asset intensity and enabling faster scaling with lower capex and improved interest costs.

Near‑term cash and execution visibility is supported by a disclosed INR 1,200 crore running order book, while gross debt declined materially to INR 52.8 crore as of December 31, 2025, highlighting balance sheet repair and lower finance cost pressure.

Q3FY26 showed a quarter revenue dip due to electoral billings deferment but operating EBITDA margins expanded YoY; management also recognized an incremental INR 2.87 crore liability under new labour codes, reported as an exceptional item in Q3FY26.