Tuni Textile Mills Limited (**TTML**) is a Mumbai-headquartered manufacturer and trader of high-quality **synthetic grey fabrics**. Established in **1987**, the company has evolved from a traditional weaving unit into an integrated fabric developer. TTML specializes in materials for shirting, suiting, uniforms, and casual wear, serving a diverse B2B clientele that includes premium Indian brands, garment exporters, and uniform manufacturers. --- ### Manufacturing Infrastructure & Technical Capabilities The company operates a technologically advanced weaving facility in **MIDC Murbad, Maharashtra**, supported by a strategic warehousing network in **Murbad and Bhiwandi**. | Feature | Details | | :--- | :--- | | **Primary Facility** | B-5, MIDC Murbad, Dist. Thane | | **Key Machinery** | **44 European rapier looms** (including Sulzer G6200) | | **Specialized Equipment** | Precision **single-end warping** for rapid sampling | | **Monthly Production** | Approximately **225,000 meters** of grey fabric | | **Annual Capacity** | **0.27 crore meters** | | **Design Capability** | CAD-enabled; **2,000+ prototypes/month** during peak seasons | **Integrated Production Model:** TTML utilizes a disciplined **90-120 day production cycle** (yarn to fabric) and a **three-month development cycle** for new designs. While weaving is handled in-house, the company outsources the conversion of "grey" fabric to "finished" fabric to specialized processing and dyeing units, allowing for operational flexibility. --- ### Product Portfolio & Design Innovation TTML positions itself as a comprehensive solutions provider, transitioning from simple manufacturing to trend-responsive fabric development. * **Diverse Material Range:** Expertise in various weaves and blends, including **pick-and-pick, chambray, fil-à-fil, poly-viscose, cotton-linen, and twills**. * **Rapid Prototyping:** The use of **single-end warping machines** allows for sampling runs of up to **50 meters**, significantly reducing time-to-market for client approvals. * **Global Benchmarking:** The design team actively participates in international trade fairs in **Paris and China** to align product development with global fashion directions. * **Selection Rigor:** From the thousands of prototypes generated monthly, the company selects **500 to 700 designs** for bulk production based on real-time market intelligence and client feedback. --- ### Strategic Growth & Capital Modernization The company is currently executing a capital-intensive strategy to modernize its infrastructure and optimize its balance sheet. **The 2025-2026 Rights Issue:** Following a devolved attempt in late 2025, the Board initiated a fresh **Rights Issue** in **March 2026** targeting up to **₹49.00 Crores**. * **Rights Entitlement Ratio:** **81 Equity Shares** for every **25 Equity Shares** held. * **Post-Issue Capital:** Projected to reach **55,38,75,440** equity shares (Face Value **₹1**). **Strategic Pillars for Fund Utilization:** 1. **Infrastructure Modernization:** Comprehensive renovation of the **Murbad factory**, including structural strengthening and corrosion-resistant roofing. 2. **Technological Upgradation:** Transitioning from manual systems to **automated, digitally controlled solutions** and retrofitting existing machinery. 3. **Deleveraging:** Allocation of approximately **₹8.38 Crores** toward the repayment of secured and unsecured loans to improve the **debt-to-equity ratio**. 4. **Operational Efficiency:** A **5-year roadmap** to implement **ISO standards, Just-In-Time (JIT) methodologies, and ERP systems**. 5. **Sustainability:** Shifting toward **eco-friendly textiles** and organic materials to meet global consumer shifts. --- ### Financial Performance & Capital Structure TTML has demonstrated consistent revenue growth over the last three fiscal years, though it maintains a conservative dividend policy to reinvest in growth. **Key Financial Indicators (₹ Lacs):** | Particulars | FY 2024-25 | FY 2023-24 | FY 2022-23 | | :--- | :--- | :--- | :--- | | **Revenue from Operations** | **7,649.79** | **5,649.84** | **4,295.53** | | **Profit Before Tax (PBT)** | **80.25** | **44.51** | **36.01** | | **Profit After Tax (PAT)** | **56.65** | **32.11** | **25.56** | | **Total Equity** | **1,396.39** | **1,336.44** | **1,299.62** | **Debt Profile (as of March 2025):** * **Short-Term Borrowings:** **₹1,496.34 Lacs** * **Total Financial Liabilities:** **₹2,906.07 Lacs** (with **₹2,334.58 Lacs** due within one year). * **Security:** Credit facilities from **ICICI Bank** are secured by charges on stocks, book debts, and mortgages on the **Murbad factory** and **Andheri office**. --- ### Risk Factors & Operational Challenges Investors should note the following risks inherent in TTML’s business model and the broader textile sector: * **Customer Concentration:** High dependency on a limited client base; **98.38%** of FY 2025 revenue was derived from the **top five customers**. * **Raw Material Sensitivity:** Costs of cotton and polyester accounted for **91.63%** of total revenue in **Fiscal 2025**. The company does not currently hedge these commodities on exchanges. * **Working Capital Intensity:** The **120-day manufacturing cycle** requires significant liquidity. Auditors previously noted discrepancies between bank filings and books of accounts regarding book debts and stocks in 2024. * **Regulatory & Legal:** * A pending **₹16.048 Lakh** fine from **BSE** regarding Board composition (Regulation 17(1)). * Outstanding litigation includes a **Section 138** criminal complaint for recovery and a labor dispute regarding gratuity. * The company’s trademark registration expired in **1993**; a fresh application is currently pending. * **Labor & Macro Factors:** Vulnerability to wage hikes under new Indian labor codes and intense competition from low-cost hubs like **Bangladesh and Vietnam**. --- ### Corporate Governance & Leadership TTML is a family-led enterprise listed on the **BSE (L17120MH1987PLC043996)**. * **Promoter Group:** Holds **21.73%** of equity; **98.74%** of public holdings are dematerialized. * **Key Management:** * **Narendra Kumar Sureka:** Chairman & Managing Director. * **Pradeep Kumar Sureka:** Director - Marketing and Operations. * **Archit Sureka:** CFO, Product & Business Development (leading professionalization of Tier-2 management).