---
title: "Salona Cotspin Ltd (SALONA) — Share Price, Financials & Analysis"
symbol: "SALONA"
company: "Salona Cotspin Ltd"
canonical: "https://tapetide.com/stocks/SALONA"
isin: "INE498E01010"
nse_symbol: "SALONA"
bse_code: "590056"
sector: "Consumer Discretionary"
industry: "Textiles & Apparels"
market_cap_cr: 139.64
generated_at: "2026-09-13T20:06:12.512Z"
---

# Salona Cotspin Ltd (SALONA)

Canonical page: https://tapetide.com/stocks/SALONA

## Company

- **NSE Symbol:** SALONA
- **BSE Code:** 590056
- **ISIN:** INE498E01010
- **Sector:** Consumer Discretionary
- **Industry:** Textiles & Apparels
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2016-06-16
- **CEO:** Mr. Shyamlal Agarwala
- **Employees:** 356
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** salonacotspin.com

## About

Incorporated in 1996, Salona Cotspin Ltd manufactures and sells Textiles[1]

## Latest Price

- **Price:** ₹260.05
- **Change:** -2.7 (-1.03%)
- **Open:** ₹261.45
- **Day High:** ₹261.45
- **Day Low:** ₹255
- **Previous Close:** ₹262.75
- **Volume:** 55
- **As Of:** 2026-09-11T08:31:37+00:00

## Key Fundamentals

Observed at 2026-09-11T04:51:16.151335Z.

- **Market Cap:** ₹139.64 Cr
- **Classification:** Microcap
- **P/E (reported):** 60.6
- **P/E (TTM):** 59.78
- **EPS (TTM):** ₹4.35
- **EPS (reported):** ₹12.06
- **Book Value:** ₹159.07
- **Price to Book:** 1.65
- **Dividend Yield:** 0.38%
- **ROE:** 1.86%
- **ROCE:** 16.74%
- **Debt to Equity:** 2.29
- **Revenue (yearly):** ₹594.4 Cr
- **Net Income:** ₹1.6 Cr
- **EBITDA:** ₹34.9 Cr
- **52-Week High:** ₹320
- **52-Week Low:** ₹200
- **RSI (14):** 52.38

## Tapetide Score

- **Score:** 55 / 100
- **Score date:** 2026-09-04
- **Archetype:** Priced for Perfection
- **What it means:** The business scores well but the multiple leaves little room for error. The debate here is about the price, not the company; small disappointments tend to cost more at rich valuations.
- **Pillar profile:** Quality: Good · Valuation: Expensive · Momentum: Rising
- **Percentile:** 70.1 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 26.96 | 9% |
| growth | 44.7 | 9% |
| momentum | 69.37 | 12% |
| ownership | 50 | 24% |
| quality | 80.18 | 22% |
| valuation | 44.54 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company has reduced debt.
- Company has been maintaining a healthy dividend payout of 76.9%
- Debtor days have improved from 62.0 to 48.8 days.
- Company's working capital requirements have reduced from 16.3 days to 10.3 days

### Weaknesses

- Company has low interest coverage ratio.
- Company has a low return on equity of 4.33% over last 3 years.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 24.36% | 766.13% | 327.92% |
| ebitda margin growth | 28.92% | 21.03% | 39.1% | 1.38% |
| net income growth | 264.29% | -48.39% | -59% | -28% |
| revenue growth | 77.69% | -10.25% | 7% | 21% |
| roce | — | 8.21% | 16.09% | 22.18% |
| roe | — | -50.92% | 4.44% | -94.62% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 208.88 | 206.42 | 166.4 | 190.01 | 166.06 | 158.29 | 147.79 | 157.1 | 170.77 | 155.49 | 110.46 | 196.6 |
| Expenses | 198.6 | 199.51 | 159.72 | 181.57 | 157.84 | 148.97 | 141.81 | 147.44 | 161.85 | 147.83 | 102.38 | 185.92 |
| Operating Profit | 10.28 | 6.91 | 6.68 | 8.44 | 8.22 | 9.32 | 5.98 | 9.66 | 8.92 | 7.66 | 8.08 | 10.68 |
| OPM % | 4.92 | 3.35 | 4.01 | 4.44 | 4.95 | 5.89 | 4.05 | 6.15 | 5.22 | 4.93 | 7.31 | 5.43 |
| Other Income | 0.05 | 0.09 | 0.11 | 0.04 | 0.05 | 0.1 | -0.03 | 0.04 | 0.04 | 0.24 | 0.24 | 0.05 |
| Interest | 4.21 | 5.53 | 2.71 | 4.31 | 3.64 | 5.77 | 5.12 | 5.44 | 5.23 | 4.68 | 4.63 | 5.42 |
| Depreciation | 2.5 | 0.26 | 2.72 | 1.8 | 1.82 | 1.81 | 2.31 | 2.24 | 2.56 | 2.38 | 2.93 | 2.49 |
| Profit before tax | 3.62 | 1.21 | 1.36 | 2.37 | 2.81 | 1.84 | -1.48 | 2.02 | 1.17 | 0.84 | 0.76 | 2.82 |
| Tax % | 51.93 | -19.83 | 34.56 | 3.38 | 22.06 | 14.13 | 96.62 | 24.26 | 8.55 | 61.9 | 280.26 | 19.86 |
| Net Profit | 1.73 | 1.44 | 0.9 | 2.27 | 2.19 | 1.58 | -2.92 | 1.53 | 1.07 | 0.33 | -1.37 | 2.26 |
| EPS in Rs | 3.29 | 2.74 | 1.71 | 4.31 | 4.16 | 3 | -5.55 | 2.91 | 2.03 | 0.63 | -2.6 | 4.29 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 107 | 133 | 122 | 230 | 647 | 487 | 722 | 662 | 594 | 633 |
| Expenses | 97 | 123 | 113 | 215 | 610 | 452 | 692 | 630 | 559 | 598 |
| Operating Profit | 9 | 10 | 9 | 15 | 37 | 35 | 30 | 32 | 34 | 35 |
| OPM % | 9 | 8 | 7 | 6 | 6 | 7 | 4.2 | 4.8 | 6 | 6 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Interest | 3 | 4 | 4 | 4 | 7 | 9 | 15 | 19 | 20 | 20 |
| Depreciation | 4 | 4 | 3 | 3 | 3 | 5 | 7 | 8 | 10 | 10 |
| Profit before tax | 2 | 2 | 2 | 8 | 27 | 20 | 8 | 6 | 5 | 6 |
| Tax % | 4 | 29 | 38 | 20 | 26 | 13 | 27 | 43 | 67 | — |
| Net Profit | 2 | 2 | 1 | 6 | 20 | 18 | 6 | 3 | 2 | 2 |
| EPS in Rs | 4.05 | 3.1 | 2.22 | 11.78 | 37.61 | 33.39 | 11.65 | 5.95 | 2.96 | 4.35 |
| Dividend Payout % | 15 | 20 | 0 | 9 | 3 | 4 | 9 | 17 | 205 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| Reserves | 23 | 25 | 26 | 27 | 33 | 52 | 69 | 74 | 77 | 78 |
| Borrowings | 35 | 43 | 51 | 40 | 77 | 139 | 157 | 257 | 239 | 190 |
| Other Liabilities | 8 | 10 | 8 | 11 | 24 | 32 | 39 | 27 | 33 | 31 |
| Total Liabilities | 71 | 83 | 90 | 83 | 138 | 228 | 270 | 364 | 354 | 304 |
| Fixed Assets | 17 | 15 | 26 | 24 | 27 | 43 | 41 | 70 | 106 | 122 |
| CWIP | 0 | 5 | 1 | 0 | 0 | 0 | 0 | 36 | 18 | 2 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 54 | 63 | 63 | 59 | 112 | 185 | 229 | 257 | 230 | 179 |
| Total Assets | 71 | 83 | 90 | 83 | 138 | 228 | 270 | 364 | 354 | 304 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -3 | 4 | 6 | 14 | -24 | -35 | -5 | -12 | 64 | 79 |
| Cash from Investing Activity | -2 | -7 | -10 | 0 | -5 | -20 | -3 | -72 | -26 | -10 |
| Cash from Financing Activity | 3 | 3 | 4 | -14 | 29 | 54 | 8 | 84 | -38 | -69 |
| Net Cash Flow | -2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -5 | -3 | -4 | 14 | -29 | -54 | -9 | -84 | 37 | 69 |
| CFO/OP | -35 | 43 | 64 | 167 | -161 | -93 | -8 | -35 | 198 | 233 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 65 | 65 | 50 | 41 | 85 | 54 | 92 | 73 | 64 | 49 |
| Inventory Days | 115 | 184 | 146 | 159 | 124 | 43 | 51 | 34 | 42 | 44 |
| Days Payable | 17 | 34 | 16 | 29 | 52 | 12 | 22 | 7 | 9 | 6 |
| Cash Conversion Cycle | 163 | 216 | 181 | 171 | 157 | 85 | 121 | 100 | 98 | 86 |
| Working Capital Days | 50 | 47 | 36 | 41 | 37 | 25 | 43 | 24 | 15 | 10 |
| ROCE % | 9 | 8 | 8 | 8 | 13 | 22 | 14 | 8 | 7 | 8 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 67.09% | 67.09% | 67.09% | 67.09% | 67.09% | 67.09% | 67.09% | 67.09% | 67.09% | 68.42% | 68.42% | 68.42% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 22.17% | 22.22% | 20.82% | 20.8% | 20.76% | 20.52% | 20.52% | 20.67% | 20.57% | 21.04% | 20.99% | 21.05% |
| Others | 10.73% | 10.68% | 12.08% | 12.11% | 12.15% | 12.39% | 12.39% | 12.24% | 12.34% | 10.54% | 10.59% | 10.53% |
| No. of Shareholders | 3227 | 2967 | 2607 | 2803 | 2689 | 2676 | 2680 | 2695 | 2721 | 2803 | 2660 | 2560 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 6 / 11

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 264.11 | Sell |
| EMA (10) | 263.42 | Sell |
| SMA (20) | 265.78 | Sell |
| EMA (20) | 262.84 | Sell |
| SMA (50) | 257.22 | Buy |
| EMA (50) | 261.27 | Sell |
| SMA (100) | 265.3 | Sell |
| EMA (100) | 262.34 | Sell |
| SMA (200) | 264.01 | Sell |
| EMA (200) | 262.09 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 48.34 | Neutral |
| MACD (12,26,9) | 1.35 | Sell |
| Stochastic (14,3,3) | 29.42 | Neutral |
| ADX (14) | 20.73 | Neutral |
| Williams %R (14) | -77.09 | Neutral |
| ATR (14) | 13.16 | High Volatility |
| ROC (12) | -0.75 | Sell |
| Stoch RSI (14) | 3.28 | Buy |
| UO (7,14,28) | 48.62 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 March 2026 - Salona Cotspin Limited has informed regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 | [Trading Window 9 March 2026 - Salona Cotspin Limited has informed regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015](https://nsearchives.nseindia.com/corporate/SALONA_09032026151126_Q4_Trading_window.pdf) |
| 9 June 2026 - Salona Cotspin Limited has informed regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 | [Trading Window 9 June 2026 - Salona Cotspin Limited has informed regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015](https://nsearchives.nseindia.com/corporate/SALONA_09062026131156_Q1Trading_window.pdf) |
| 9 February 2026 - The Board of the Company at their meeting held on February 09, 2026, inter alia, had approved the Unaudited Financial Results of the Company for … | [Outcome of Board Meeting 9 February 2026 - The Board of the Company at their meeting held on February 09, 2026, inter alia, had approved the Unaudited Financial Results of the Company for …](https://nsearchives.nseindia.com/corporate/SALONA_09022026174001_Outcome_of_BM.pdf) |
| 8 January 2026 - Salona Cotspin Limited has informed about Action(s) taken or orders passed | [Action(s) taken or orders passed 8 January 2026 - Salona Cotspin Limited has informed about Action(s) taken or orders passed](https://nsearchives.nseindia.com/corporate/SALONA_08012026183612_Reg30.pdf) |
| 4 February 2026 - Salona Cotspin Limited has informed about Copy of Newspaper Publication - Special Window for Transfer and Dematerialisation of Physical Securities open for a period from … | [Copy of Newspaper Publication 4 February 2026 - Salona Cotspin Limited has informed about Copy of Newspaper Publication - Special Window for Transfer and Dematerialisation of Physical Securities open for a period from …](https://nsearchives.nseindia.com/corporate/SALONA_04022026162818_Special_Window-Newspaper.pdf) |
| 4 April 2026 - Salona Cotspin Limited has informed about Certificate under SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 4 April 2026 - Salona Cotspin Limited has informed about Certificate under SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026.](https://nsearchives.nseindia.com/corporate/SALONA_04042026170437_Reg74_DP.pdf) |
| 30 May 2026 - We enclose herewith the copies of the newspaper advertisement published by the Company in Business Standard (All Editions) and Makkal Kural newspapers on May 30, … | [Copy of Newspaper Publication 30 May 2026 - We enclose herewith the copies of the newspaper advertisement published by the Company in Business Standard (All Editions) and Makkal Kural newspapers on May 30, …](https://nsearchives.nseindia.com/corporate/SALONA_30052026154542_Newspaper_submission.pdf) |
| 30 June 2026 - Salona Cotspin Limited has informed about General Updates | [General Updates 30 June 2026 - Salona Cotspin Limited has informed about General Updates](https://nsearchives.nseindia.com/corporate/SALONA_30062026205111_Outcome_of_Board.pdf) |
| 30 June 2026 - Pursuant to Regulation 30(5) of SEBI (LODR), 2015, the Board has authorized the following personnel of the Company for the purpose of determining materiality of … | [General Updates 30 June 2026 - Pursuant to Regulation 30(5) of SEBI (LODR), 2015, the Board has authorized the following personnel of the Company for the purpose of determining materiality of …](https://nsearchives.nseindia.com/corporate/SALONA_30062026205027_Reg_30_5_-LODR.pdf) |
| 30 Jun - Salona Cotspin Limited has informed regarding Outcome of Board Meeting held on Jun 30, 2026 regarding appointment of Mr Manoj Kumar Jhajharia as Managing Director … | [Outcome of Board Meeting 30 Jun - Salona Cotspin Limited has informed regarding Outcome of Board Meeting held on Jun 30, 2026 regarding appointment of Mr Manoj Kumar Jhajharia as Managing Director …](https://nsearchives.nseindia.com/corporate/SALONA_30062026211018_Outcome_of_Board.pdf) |

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2023-04-10 | [Closure of Trading Window](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=44319393-A915-4944-B98E-F5933D1D544F-150555.pdf) |
| 2022-04-12 | [Clarification](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=C82D94EF-5A96-4373-9E40-B6273043C00F-182702.PDF) |
| 2021-08-03 | [Board Meeting Intimation for Results](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=BADC680A-FB83-4435-9A58-DDF85A3C8F21-140852.pdf) |
| 2021-07-08 | [Half Yearly Disclosure on Related Party Transactions under Regulation 23(9) of SEBI LODR(Amendment) Regulations, 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=F8AE2AB7-7A4F-4105-8AA8-D843DFEAE2A1-125735.PDF) |
| 2021-06-28 | [Standalone Financial Results, Auditors Report for March 31, 2021](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=02E1805D-9571-4F81-BA59-2E3FCE87FA0E-194634.pdf) |
| 2021-06-17 | [Board to consider Dividend](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=D2D8F298-4E6B-4AB4-ACC1-946013E0EDBE-144119.pdf) |
| 2021-06-09 | [Clarification](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=C710F97E-72A4-4897-9FE9-CE7AF3DDBD5F-140620.pdf) |
| 2021-02-12 | [Standalone Financial Results, Limited Review Report for December 31, 2020](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8984E935-A356-4B80-B589-CAC82C9CB7D4-194917.pdf) |
| 2021-02-03 | [Board Meeting Intimation for Results](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8F4115D1-9E78-4BD8-A11D-41CC843BE4D6-162616.pdf) |
| 2020-10-14 | [Statement of Investor Complaint under Reg. 13(3) of SEBI (LODR) Regulations, 2015 for Quarter ended September 30, 2020](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=80723FCB-C32E-4831-B2EB-294173546362-144200.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2021-08-12 | [Standalone Financial Results, Limited Review Report for June 30, 2021](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=88079434-565A-4D12-A628-C99DA8266A19-184736.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/590056/65130590056.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/HIS_ANN_RPT/HISTANNR/2016/SALONA_COTSPIN_LTD-590056-MARCH-2016.PDF) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/590056/5900560315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/590056/5900560314.pdf) |
| from bse | [Annual Report 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport/590056/5900560313.pdf) |
| from bse | [Annual Report 2012 from bse](https://www.bseindia.com/bseplus/AnnualReport/590056/5900560312.pdf) |
| from bse | [Annual Report 2011 from bse](https://www.bseindia.com/bseplus/AnnualReport/590056/5900560311.pdf) |
| from bse | [Annual Report 2010 from bse](https://www.bseindia.com/bseplus/AnnualReport/590056/5900560310.pdf) |
| from bse | [Annual Report 2009 from bse](https://www.bseindia.com/HIS_ANN_RPT/HISTANNR/2009/SALONA_COTSPIN_LTD-590056-MARCH-2009.PDF) |
| from bse | [Annual Report 2008 from bse](https://www.bseindia.com/HIS_ANN_RPT/HISTANNR/2008/SALONA_COTSPIN_LTD-590056-MARCH-2008.PDF) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T20:06:12.512Z.