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Swing Capital

Delta Manufacturing Ltd

NSE: DELTAMAGNT BSE: 504286Textile

Incorporated in 1982, Delta Manufacturing Ltd manufactures hard ferrites, soft ferrites, textile woven labels, fabric printed labels and elastic / woven tape[1]

₹62
52W: ₹41 — ₹116
PE 0 · Book ₹10.8 · +474% vs book
Market Cap₹67.3 Cr
Stock P/E—Price to Earnings
ROCE10.8%Return on Capital
ROE39.8%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company has reduced debt.

Weaknesses

  • −Stock is trading at 5.65 times its book value
  • −Company has low interest coverage ratio.
  • −The company has delivered a poor sales growth of -7.66% over past five years.
  • −Company has a low return on equity of -31.2% over last 3 years.
  • −Company might be capitalizing the interest cost

Shareholding Pattern

Promoters72.12%
FIIs0%
DIIs0.08%
Public27.8%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters72.12%72.12%72.12%72.12%72.12%72.12%72.12%72.12%
FIIs0%0%0%0%0%0%0%0%
DIIs0.08%0.08%0.08%0.08%0.08%0.08%0.08%0.08%
Public27.81%27.81%27.79%▼0.027.8%▲0.027.8%27.8%27.8%27.8%

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales20.7217.0318.0315.7814.381515.7214.3213.815.53
Expenses21.2117.8317.8717.1815.9213.216.1414.7312.7714.7
Operating Profit-0.49-0.80.16-1.4-1.541.8-0.42-0.411.030.83
OPM %-2.36%-4.7%0.89%-8.87%-10.71%12%-2.67%-2.86%7.46%5.34%
Net Profit-2.54-2.42-2.9-2.58-2.96-5.82-0.19-1.55-1.55-4.35
EPS ₹-2.34-2.23-2.67-2.38-2.73-5.36-0.18-1.43-1.43-4.01

AI Insights

Revenue Trend

TTM revenue at ₹59.37Cr, down 2.7% YoY. OPM at 1.73%.

Debt Position

Borrowings at ₹30.62Cr. Debt-to-equity ratio: 37.80x. High leverage — monitor closely.

Capex Cycle

CWIP at ₹0.05Cr (0% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0.08% (+0.00pp change). FIIs: 0% (+0.00pp change). Promoters hold 72.12%.

Margin & Efficiency

ROCE declining from -2.14% (Mar 2014) to -10.79% (Mar 2025). Working capital days: -87.48.

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