Texel Industries is a manufacturer of industrial-strength fabrics that stop water, protect surfaces, and reinforce ground - essentially, the company makes materials that contain, cover, and stabilise things. It has been doing this since 1989 from its base in Gujarat, starting with tarpaulins and geomembranes and becoming the first company in India to earn a Bureau of Indian Standards licence for those products. The recurring approach has been to build manufacturing capacity, earn official quality certifications that act as a market-entry barrier, and then let government water-conservation and infrastructure programmes pull its products into farms, construction sites, and export markets. # Business segments Two businesses at different stages - a manufacturing engine built on three decades of technical-textile expertise, and a small property-development side bet created by consolidating factory operations. ## 1. Technical Textile: the factory floor that makes the group **A two-plant operation in Gujarat that melts petroleum-based plastic granules and weaves or extrudes them into waterproof, tear-resistant sheets and liners - sold mainly to farmers and builders who need to hold water in or keep weather out.** - **First to get the government stamp** - Texel was the pioneer in India to obtain a BIS licence for tarpaulins and geomembranes, and today carries ISI marks under at least six separate Indian standards, which means its products are pre-qualified for public-sector tenders and government subsidy schemes. - **Two factories, one newer and more flexible** - the original Santej plant can make up to 9,000 metric tonnes a year of practical output, while the Kheda plant, which began commercial production in February 2022, adds another 10,080 metric tonnes and was built specifically to introduce new technologies and develop products for export markets. - **Geomembranes are the anchor product** - these are impermeable plastic liners used to line farm ponds, aquaculture tanks, canals, and effluent-treatment pools so that water does not seep away or contamination does not leak in; they contributed roughly 43% of total turnover in the most recent year and have consistently been the largest single product line. - **Tarpaulins ride on government farm schemes** - sold as agro sheets for covering and storing crops and as general-purpose covers for construction and transport, this category accounted for about 22% of turnover and gets a demand lift whenever states distribute subsidised protective sheets to farmers. - **A tail of smaller specialised fabrics** - the product range also includes woven geotextiles that reinforce road foundations, ground covers that suppress weeds, metal-wrap fabric that stops steel coils from rusting, portable geo-tanks for fish farming, and even grow-bags and vermibeds for organic cultivation, which together fill out the catalogue and open niche export opportunities. ## 2. Land, Building & Property Development: selling the spare yard **After shifting production to the Kheda plant, the company began selling off surplus land at its older site - a one-time monetisation of a non-factory asset.** - **Born from factory consolidation** - when manufacturing was concentrated at the newer Kheda facility, the company found itself holding property it no longer needed for operations, so it repurposed that land for sale rather than leaving it idle. - **Small contributor, separate books** - property sales brought in about ₹708 lakhs in the first year of activity, and the company began reporting it as a distinct operating segment from early 2025 because the revenue stream is different in nature from manufacturing. # Group structure and partners **A standalone listed entity with one dormant overseas subsidiary and a single-stock-exchange listing - no promoter-group complexity.** - **Listed only on the BSE** - the company’s equity shares trade solely on the Bombay Stock Exchange, with no dual listing on the National Stock Exchange. - **A fully impaired Kenyan subsidiary** - Texel Industries (Africa) Limited is a wholly owned unit incorporated in Kenya, but its net worth has been entirely eroded and the parent’s investment in it has been written down to zero in the books, though the parent has also extended a loan to it that is partially provided for. - **One notable outside shareholder exit** - in early 2021, an entity called Skypoint Technical Textile LLP, which was not part of the promoter group, halved its stake from about 9.6% to 4.8%, reducing outside concentrated ownership.