🧂From Ethnic Kurtis to Gangji Salt to GST Notices – Libas Consumer Products Is Serving It All
Date of Publishing -
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At a Glance
Libas Consumer Products Ltd is a B2B fashion and retail SME dabbling in designer apparel and Gangji rock salt. FY25 was spicy: a ₹2.5 Cr fire at its store, ₹11.87 Cr of possibly fake inventory, ₹2.98 Cr in doubtful loans, ₹1.24 Cr in GST disputes… and a ₹1.57 Cr net loss. All while trading at 0.45x book. Should SEBI send a salt shaker or a fire extinguisher?
1. 🎬 Intro: From Designer Lehengas to Financial Lava
CMP: ₹14.1
Market Cap: ₹37.3 Cr
Book Value: ₹31.1 → P/B: 0.45x
FY25 EPS: ₹1.00 → but hold up, auditors are calling BS
ROE (3Y avg): 3.37%
5-Year Sales CAGR: 6.9%
Promoter Holding: 30.7%
✅ Dirt cheap stock ❌ But fire, fraud, and fabric don’t mix well.
2. 👗 WTF Do They Even Do?
Dual business model:
Fashion Retail / Ethnic Apparel
B2B + retail designerwear (Libas, Riyaz Gangji)
Claims tie-ups with Jabong, Glitstreet, IndianRoots (some of which… don’t even exist anymore 🫠)
Institutional clients, corporate dressing, e-commerce, etc.
Gangji Rock Salt
Why? No idea. Just vibes.
FMCG-adjacent diversification gone rogue.
So this is part Zara, part Tata Salt. Just without the sales.
