Salona Cotspin Ltd

SALONA

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Market Cap

₹ 144 Cr

P/E

113.80

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Performance

MARKET LEADER

Valuation

OVERVALUED

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bearish

Risk

HIGH RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

Salona Cotspin Limited, founded in 1994, is a notable manufacturer and exporter specializing in cotton yarn and knitted fabrics, serving the hosiery and garment industries.

The company operates a manufacturing facility in Erode District, displaying its commitment to high-quality textile production through advanced machinery and proficient staff.

Salona Cotspin has expanded its operations with wind electricity generation, underscoring its initiative towards integrating renewable energy in its operations.

With a focus on innovation, Salona offers customized blends and technical customer service, enhancing its product appeal in the competitive textile industry.

Salona maintains adherence to Öekotex Standards, emphasizing superior yarn quality with attributes like excellent tensile strength and yarn uniformity.

Sector

Textiles

Industry

Textiles - Spinning/Cotton/Blended Yarn - Ring Spg

Market Cap

144 Cr

Volatility

Low Risk

P/E Ratio

113.8

Industry P/E

20.9

PEG Ratio

—

P/B Ratio

1.7

52W High

335.00

52W Low

212.95

Sales CAGR

-8.32%

0.77%

40.29%

10Y

23.34%

Profit CAGR

-48.94%

-45.90%

21.70%

10Y

3.65%

ROE

TTM

1.49%

11.34%

15.92%

10Y

13.26%

ROCE

TTM

7.58%

17.80%

21.48%

10Y

19.90%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
BASML	27.10	217 Cr	14.52	0.46	0.00	3.19	6.93	1.29
SALONA	274.25	144 Cr	113.80	1.70	0.37	1.49	7.58	0.35
LAMBODHARA	122.30	127 Cr	17.62	1.11	0.41	5.89	10.96	3.72
SURYALAXMI	59.70	112 Cr	25.19	0.42	0.00	1.65	6.81	0.77
SELMC	32.70	108 Cr	—	0.00	0.00	342.18	-15.09	-18.29
BHILSPIN	106.00	96 Cr	—	2.23	0.00	-6.61	1.32	-1.74
AMARJOTHI	139.95	94 Cr	7.64	0.47	1.58	6.15	9.15	4.54

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	141	209	206	166	190	166	158	148	157	171
Expenses	134	199	200	160	182	158	149	142	147	162
Operating Profit	6.34	10	6.91	6.69	8.43	8.22	9.32	5.98	9.65	8.92
OPM %	4.51	4.92	3.35	4.02	4.44	4.95	5.89	4.05	6.14	5.22
Other Income	0.01	0.05	0.09	0.11	0.04	0.05	0.10	-0.03	0.04	0.04
Interest	2.76	4.21	5.53	2.71	4.31	3.64	5.77	5.12	5.44	5.23
Depreciation	1.38	2.50	0.26	2.72	1.80	1.82	1.81	2.31	2.24	2.56
Profit Before Tax	2.21	3.61	1.21	1.37	2.36	2.81	1.84	-1.48	2.02	1.17
Tax %	7.24	52.35	-19.83	34.31	3.81	22.06	14.13	-96.62	24.26	8.55
Net Profit	2.06	1.73	1.44	0.90	2.27	2.19	1.58	-2.92	1.53	1.07
EPS in Rs	3.91	3.28	2.74	1.71	4.32	4.16	3.01	-5.54	2.91	2.03

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	121	107	133	122	230	647	487	722	662	629
Expenses	113	98	123	113	215	610	452	692	630	596
Operating Profit	8.59	9.31	10	8.54	15	37	35	30	32	33
OPM %	7.07	8.72	7.57	7.01	6.42	5.78	7.15	4.18	4.83	5.27
Other Income	0.12	0.10	0.10	0.08	0.11	0.06	0.29	0.25	0.15	0.16
Interest	2.31	3.47	4.01	4.08	4.46	7.38	9.40	15	19	20
Depreciation	3.63	3.73	3.85	2.65	2.66	3.33	5.47	6.86	7.74	8.18
Profit Before Tax	2.77	2.21	2.30	1.90	7.76	27	20	8.40	5.54	5.19
Tax %	-20.55	3.60	29.15	38.23	20.10	26.02	13.27	27.08	43.40	54.14
Net Profit	3.34	2.13	1.63	1.17	6.20	20	18	6.13	3.13	2.38
EPS in Rs	6.36	4.05	3.10	2.22	11.78	37.61	33.45	11.64	5.95	2.41
Dividend Payout %	9.45	14.81	19.35	0.00	8.49	3.19	3.59	8.59	16.81	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	5.33	5.33	5.33	5.33	5.33	5.33	5.33	5.33	5.33	5.33
Reserves	19	23	25	26	27	33	52	69	74	77
Borrowings	27	33	40	48	38	77	139	157	257	239
Other Liabilities	12	10	14	11	13	24	32	39	27	33
Total Liabilities	64	71	83	90	83	138	228	270	364	354
Fixed Assets	18	17	15	26	24	27	43	41	70	106
CWIP	0.00	0.00	5.02	0.60	0.00	0.00	0.00	0.27	36	18
Investments	0.21	0.31	0.31	0.24	0.01	0.01	0.01	0.01	0.01	0.00
Other Assets	46	54	63	63	59	112	185	229	257	230
Total Assets	64	71	83	90	83	138	228	270	364	354

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	0.04	-2.98	3.99	6.42	14	-24	-35	-5.01	-12	64
Cash from Investing Activity	-0.65	-1.83	-7.16	-10	0.08	-5.32	-20	-3.39	-72	-26
Cash from Financing Activity	2.17	3.23	3.15	3.65	-14	29	54	8.39	84	-38
Net Cash Flow	1.55	-1.58	-0.02	0.03	0.12	0.01	-0.13	-0.01	-0.01	0.05

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	65.98%	66.36%	67.09%	67.09%	67.09%	67.09%	67.09%	67.09%	67.09%	67.09%	67.09%	67.09%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	34.02%	33.64%	32.91%	32.91%	32.91%	32.91%	32.91%	32.91%	32.91%	32.91%	32.91%	32.91%
Total Shareholders	3,478	3,275	3,485	3,227	2,967	2,607	2,803	2,689	2,676	2,680	2,695	2,721

Projection

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Presentations

Concalls

Reports

Presentations

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Overall

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Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	141	209	206	166	190	166	158	148	157	171
Expenses	134	199	200	160	182	158	149	142	147	162
Operating Profit	6.34	10	6.91	6.69	8.43	8.22	9.32	5.98	9.65	8.92
OPM %	4.51	4.92	3.35	4.02	4.44	4.95	5.89	4.05	6.14	5.22
Other Income	0.01	0.05	0.09	0.11	0.04	0.05	0.10	-0.03	0.04	0.04
Interest	2.76	4.21	5.53	2.71	4.31	3.64	5.77	5.12	5.44	5.23
Depreciation	1.38	2.50	0.26	2.72	1.80	1.82	1.81	2.31	2.24	2.56
Profit Before Tax	2.21	3.61	1.21	1.37	2.36	2.81	1.84	-1.48	2.02	1.17
Tax %	7.24	52.35	-19.83	34.31	3.81	22.06	14.13	-96.62	24.26	8.55
Net Profit	2.06	1.73	1.44	0.90	2.27	2.19	1.58	-2.92	1.53	1.07
EPS in Rs	3.91	3.28	2.74	1.71	4.32	4.16	3.01	-5.54	2.91	2.03

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	121	107	133	122	230	647	487	722	662	629
Expenses	113	98	123	113	215	610	452	692	630	596
Operating Profit	8.59	9.31	10	8.54	15	37	35	30	32	33
OPM %	7.07	8.72	7.57	7.01	6.42	5.78	7.15	4.18	4.83	5.27
Other Income	0.12	0.10	0.10	0.08	0.11	0.06	0.29	0.25	0.15	0.16
Interest	2.31	3.47	4.01	4.08	4.46	7.38	9.40	15	19	20
Depreciation	3.63	3.73	3.85	2.65	2.66	3.33	5.47	6.86	7.74	8.18
Profit Before Tax	2.77	2.21	2.30	1.90	7.76	27	20	8.40	5.54	5.19
Tax %	-20.55	3.60	29.15	38.23	20.10	26.02	13.27	27.08	43.40	54.14
Net Profit	3.34	2.13	1.63	1.17	6.20	20	18	6.13	3.13	2.38
EPS in Rs	6.36	4.05	3.10	2.22	11.78	37.61	33.45	11.64	5.95	2.41
Dividend Payout %	9.45	14.81	19.35	0.00	8.49	3.19	3.59	8.59	16.81	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	5.33	5.33	5.33	5.33	5.33	5.33	5.33	5.33	5.33	5.33
Reserves	19	23	25	26	27	33	52	69	74	77
Borrowings	27	33	40	48	38	77	139	157	257	239
Other Liabilities	12	10	14	11	13	24	32	39	27	33
Total Liabilities	64	71	83	90	83	138	228	270	364	354
Fixed Assets	18	17	15	26	24	27	43	41	70	106
CWIP	0.00	0.00	5.02	0.60	0.00	0.00	0.00	0.27	36	18
Investments	0.21	0.31	0.31	0.24	0.01	0.01	0.01	0.01	0.01	0.00
Other Assets	46	54	63	63	59	112	185	229	257	230
Total Assets	64	71	83	90	83	138	228	270	364	354

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	0.04	-2.98	3.99	6.42	14	-24	-35	-5.01	-12	64
Cash from Investing Activity	-0.65	-1.83	-7.16	-10	0.08	-5.32	-20	-3.39	-72	-26
Cash from Financing Activity	2.17	3.23	3.15	3.65	-14	29	54	8.39	84	-38
Net Cash Flow	1.55	-1.58	-0.02	0.03	0.12	0.01	-0.13	-0.01	-0.01	0.05

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
BASML	27.10	217 Cr	14.52	0.46	0.00	3.19	6.93	1.29
SALONA	274.25	144 Cr	113.80	1.70	0.37	1.49	7.58	0.35
LAMBODHARA	122.30	127 Cr	17.62	1.11	0.41	5.89	10.96	3.72
SURYALAXMI	59.70	112 Cr	25.19	0.42	0.00	1.65	6.81	0.77
SELMC	32.70	108 Cr	—	0.00	0.00	342.18	-15.09	-18.29
BHILSPIN	106.00	96 Cr	—	2.23	0.00	-6.61	1.32	-1.74
AMARJOTHI	139.95	94 Cr	7.64	0.47	1.58	6.15	9.15	4.54

Overview

Detailed Summary

Salona Cotspin Limited, founded in 1994, is a notable manufacturer and exporter specializing in cotton yarn and knitted fabrics, serving the hosiery and garment industries.

The company operates a manufacturing facility in Erode District, displaying its commitment to high-quality textile production through advanced machinery and proficient staff.

Salona Cotspin has expanded its operations with wind electricity generation, underscoring its initiative towards integrating renewable energy in its operations.

With a focus on innovation, Salona offers customized blends and technical customer service, enhancing its product appeal in the competitive textile industry.

Salona maintains adherence to Öekotex Standards, emphasizing superior yarn quality with attributes like excellent tensile strength and yarn uniformity.

Sector

Textiles

Industry

Textiles - Spinning/Cotton/Blended Yarn - Ring Spg

Market Cap

144 Cr

Volatility

Low Risk

P/E Ratio

113.8

Industry P/E

20.9

PEG Ratio

—

P/B Ratio

1.7

52W High

335.00

52W Low

212.95

Sales CAGR

-8.32%

0.77%

40.29%

10Y

23.34%

Profit CAGR

-48.94%

-45.90%

21.70%

10Y

3.65%

ROE

TTM

1.49%

11.34%

15.92%

10Y

13.26%

ROCE

TTM

7.58%

17.80%

21.48%

10Y

19.90%