🧻 Ginni Filaments – The Textile Dinosaur That Refuses to Die

🧵 At a Glance

Ginni Filaments is a 1982-born textile company doing yarns, garments, and non-wovens. Sales have shrunk from ₹1,000 Cr to ₹374 Cr in 3 years. It makes ₹4 Cr profit, trades at a 92x P/E, and somehow, still rallies. Is this revival or just a short squeeze in slow motion?

1. 🪡 Introduction – “Kapda bech ke bhi profit nahi aa raha bhai”

India has thousands of textile companies, but only a few with this combo:

• 💸 Revenue collapse
• 📉 Multiyear losses
• 🤡 90x P/E despite ₹4 Cr PAT
• 🧠 Investors still hoping for revival

Ladies and gentlemen, presenting… Ginni Filaments Ltd – the comeback that hasn’t quite come back.

2. 👕 WTF Do They Even Do?

Business Lines:

• 🧶 Yarns – cotton and blended
• 👔 Fabrics & Garments – innerwear, casuals, uniforms
• 🩹 Non-Woven Fabrics – used in hygiene products (baby diapers, wipes, medical PPE)

It used to be a ₹1,000 Cr export-oriented unit (EOU). Today, it’s struggling to stay relevant in a world where China and Bangladesh run the show.

They also do private label manufacturing for global customers.

But in FY23-FY24, they were busy with something else: bleeding money.

3. 📊 Financials – Sales Down, Profits Missing