Key Metrics of Damodar Industries
About Damodar Industries
Company details
- Registered office
- 19/22 & 27/30, Madhu Estate, Pandurang Budhkar Marg, Worli, Mumbai, In-mh, 400013
- Listed
- NSE: DAMODARIND · ₹25.84
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 02 Jul 2025 | CARE | Reaffirmed | BB | — | — | — | View |
| 21 Nov 2024 | CARE | Other | BB | — | Stable | ₹40.0 Cr | View |
| 29 Aug 2023 | CARE | Revised | BB | — | Stable | ₹40.0 Cr | View |
| 22 Jun 2022 | CARE | Other | — | — | — | — | View |
| 26 Apr 2022 | CARE | Non-cooperating | BB+ | — | Stable | ₹40.0 Cr | View |
| 28 Jan 2022 | CARE | Withdrawn | BB+ | A4+ | Stable | — | View |
| 01 Feb 2021 | CARE | Revised | BB+ | A4+ | Stable | ₹325 Cr | View |
| 08 Jan 2020 | CARE | Revised (from BBB) | BBB- | A3 | Stable | ₹365 Cr | View |
| 13 Aug 2019 | CARE | Assigned | BBB | A3+ | Stable | ₹325 Cr | View |
Credit strengths (CARE, Jul 2025)
+ Experienced promoters with long-standing industry presence
The company is promoted by Mr. Arunkumar Biyani, Mr. Ajay Biyani, and Mr. Anil Biyani, who collectively bring over three deca des of experience in the textile industry. Mr. Arunkumar Biyani, with 41 years of experience, began his career in 1974 in synthet ic fabric manufacturing and has since been engaged in cotton yarn production. He currently oversees the financial matters of the company. Mr. Ajay Biyani, with 33 years of experience, leads production and new product development, while Mr. Anil
+ Diversified product profile
Damodar Industries Limited is engaged in the business of manufacturing Cotton and Blended Fancy yarns. The Company has production facilities for Cotton Spinning, Synthetic Spinning, Air Texturizing, Yarn Dyeing, Multi Print Space Dyeing, Mono F ilament Polyester Yarns and Textured Twisted Yarns. The company is also involved in trading of yarn. Its manufacturing facilities are located at Dadra, Daman and Amravati (Maharashtra).
+ Assumptions/Covenants: Not applicable
Environment, social, and governance (ESG) risks: Not applicable Applicable criteria Information Adequacy Risk and Issuer Non-Cooperation Definition of Default Liquidity Analysis of Non-financial sector entities Rating Outlook and Rating Watch Manufacturing Companies
+ Brief Financials (₹ crore) March 31, 2024 (A) March 31, 2025 (A)
Total operating income 719.35 421.44 PBILDT 36.33 18.95 PAT 5.22 5.40 Overall gearing (times) 2.22 1.31 Interest coverage (times) 1.23 0.91 A: Audited; Note: these are latest available financial results Status of non-cooperation with previous CRA:Not applicable
+ Total operating income 719.35 421.44
PBILDT 36.33 18.95 PAT 5.22 5.40 Overall gearing (times) 2.22 1.31 Interest coverage (times) 1.23 0.91 A: Audited; Note: these are latest available financial results Status of non-cooperation with previous CRA:Not applicable Any other information:Not applicable
+ Rating Outlook
Fixed Deposit - - - - 0.00 Withdrawn 2 CARE Ratings Ltd. Press Release Annexure-2: Rating history for last three years Current Ratings Rating History Sr. Name of the Date(s) and Date(s) and Date(s) and Date(s) and Amount
Credit challenges
− Volatile revenue trend and susceptibility to price fluctuations
The company’s total operating income has remained volatile over the past five years, reflecting sensitivity to demand cycles and raw material price movements. In FY25, revenue declined sharply by 41% to ₹421.44 crore, compared to ₹719.35 crore in FY24, partly due to sale of one plant and partly due to weakened demand conditions in both domestic and export markets. Additionally, the company’s profitability remains vulnerable to fluctuations in yarn prices, which are influenced by raw material cos
− Exposure to industry cyclicality and raw material volatility
DIL operates in a highly cyclical and fragmented textile yarn industry, characterized by intense competition from both organi sed and unorganised players, which limits pricing power. Additionally, the company remains exposed to volatility in raw material prices, particularly cotton, which is influenced by factors such as cultivation trends, annual yield, and government policies. These industry-wide and input-related risks can impact profitability. However, DIL’s trading operations, which contrib
− Key strengths
Experienced promoters with long-standing industry presence The company is promoted by Mr. Arunkumar Biyani, Mr. Ajay Biyani, and Mr. Anil Biyani, who collectively bring over three deca des of experience in the textile industry. Mr. Arunkumar Biyani, with 41 years of experience, began his career in 1974 in synthet ic fabric manufacturing and has since been engaged in cotton yarn production. He currently oversees the financial matters of the
− Diversified product profile
Damodar Industries Limited is engaged in the business of manufacturing Cotton and Blended Fancy yarns. The Company has production facilities for Cotton Spinning, Synthetic Spinning, Air Texturizing, Yarn Dyeing, Multi Print Space Dyeing, Mono F ilament Polyester Yarns and Textured Twisted Yarns. The company is also involved in trading of yarn. Its manufacturing facilities are located at Dadra, Daman and Amravati (Maharashtra).
Could lead to an upgrade
Improvement in PBILDT margins to above 8.00% on consistent basis Reduction in overall gearing below 2.00x
Could lead to a downgrade
Overall gearing deteriorating to above 3.50x on consistent basis
Agency-reported financials (CARE, 02 Jul 2025)
| Metric | March 31, 2024 | March 31, 2025 |
|---|---|---|
| Total operating income | ₹719 Cr | ₹421 Cr |
| PBILDT | ₹36.33 Cr | ₹18.95 Cr |
| PAT | ₹5.22 Cr | ₹5.40 Cr |
| Overall gearing (times) | 2.22× | 1.31× |
| Interest coverage (times) | 1.23× | 0.91× |
| Revenue growth (YoY) | — | −41.4% |
| EBITDA margin | 5.1% | 4.5% |
| Implied interest cost (EBITDA ÷ coverage) | ₹29.54 Cr | ₹20.82 Cr |
| PAT margin | 0.7% | 1.3% |
Borrowings & rated debt
Rated limits over time
CARE ratings on record (checked 23 Oct 2026)
| Instrument | Amount | Rating |
|---|---|---|
| BG/LC | — | Withdrawn |
| Fixed Deposit | — | Withdrawn |
| Term Loan | — | Withdrawn |
| Working Capital Limits | — | Withdrawn |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Instrument ratings
| Instrument | Type | Rated | Per criteria | Basis |
|---|---|---|---|---|
| continues to remain under ISSUER NOT Fixed Deposit at | Fixed deposits | BB CARE | BB | Tier II + 1 |
| crore) ISSUER NOT continues to remain under ISSUER Fixed Deposit | Fixed deposits | BB CARE | BB | Tier II + 1 |
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Withdrawal | CARE · 28 Jan 2022 · Withdrawn (reason not stated in report) |
| Next action stable or better (model) | 59% |
| Information on file | 67% · missing: Capex / investment plans, Auditor details, Recent rating review (last 15 months) |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 46% chance the next rating action is stable or better
- Current rating BB (below investment grade)
- Interest coverage 0.91×
Rated limits by facility
Timeline
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.