Mahalaxmi Rubtech Ltd is a focused manufacturer of industrial rubber and coated-fabric products - the kind of specialised materials that go into printing presses, truck tarpaulins and digital billboards. It began in 1991 as a family-led textile house in Ahmedabad and, in 2024, carved itself down to a single, higher-margin engine by spinning off its traditional fabric-processing and trading divisions into two separate listed companies. The recurring approach is to own the weave: the company runs its own high-tech weaving unit, Maheeka Textech, so that the base fabric inside its rubber blankets and coated sheets is made in-house rather than bought from someone else.
Business segments
Two engines that feed each other - a technical-textiles factory making rubber blankets, coated fabrics and digital-print media, and an in-house weaving unit that supplies the base fabric for those products.
1. Technical textiles and rubber: the specialty-materials engine
The company coats, laminates and treats fabric to turn it into high-performance sheets and blankets for printers, builders, defence contractors and sign-makers, with the in-house weave keeping raw-material control tight.
- Makes the fabric, then coats it - the Sanand factory houses both the weaving unit (Maheeka Textech) and the coating lines, so the base fabric for offset printing blankets is produced on-site rather than sourced externally.
- Three product families, dozens of end uses - the line-up spans offset rubber printing blankets (for sheet-fed, web and packaging printing), technical coated fabrics (acrylic, PU, PVC and rubber coatings for tarpaulins, awnings, defence gear, medical substrates and architectural membranes), and textile-based digital print media (front-lit and back-lit banners, hoardings, biogas-tank and water-tank liners).
- Sold per unit to domestic and export buyers - revenue comes from manufacturing and selling finished blankets, coated fabrics and print media; a major part of sales is domestic, but the company has exported to many countries for a long time, with foreign-exchange earnings of about ₹37 crore in FY25.
- Raw-material costs are passed through where possible - cotton is the biggest input cost and its price swings with the harvest, while synthetic rubber is imported and exposed to currency moves; the company uses contracts that let it pass raw-material price changes on to customers.
- Competes on quality, not just price - the division holds ISO 9001:2015 certification, runs its own testing laboratory, and participates in international exhibitions to keep pace with global trends, positioning itself above the small-scale, low-automation players that dominate much of Indian technical textiles.
2. Maheeka Textech: the in-house weaving backbone
A high-tech weaving shed with automatic rapier and air-jet looms that supplies the specialty base fabrics the coating lines need - and can weave for outside customers too.
- Feeds the coating lines from inside the same site - Maheeka Textech sits within the Sanand factory complex and produces the fabric that goes into the company’s own offset rubber printing blankets, cutting out a supplier and keeping quality control in-house.
- Runs modern looms, not old shuttle machines - the unit operates automatic rapier looms and air-jet looms, a step up from the shuttle-less shortage that plagues much of India’s weaving sector and pushes up production costs elsewhere.
- Covers the full preparatory chain - warping and sizing are done on-site, so the yarn arrives, gets prepared and is woven into finished grey fabric without leaving the factory.
Group structure and partners
After a 2024 demerger, the company stands alone - no subsidiaries, no joint ventures, just a single listed entity with the founding family at the helm.
- Stripped back to the core - a Scheme of Arrangement sanctioned by the NCLT in March 2024 transferred the traditional textile-processing division and a wind-power unit to Mahalaxmi Fabric Mills Limited, and the textile-trading division to Globale Tessile Limited, leaving Mahalaxmi Rubtech with only its technical-textiles and weaving business.
- Shareholders got mirror stakes in both new companies - as consideration, every MRT shareholder received one new share in each of the two resulting companies for every MRT share held, so the shareholding pattern of all three entities is identical.
- No subsidiaries remain - as of March 2025 the company has no subsidiary, associate or joint venture, and does not prepare consolidated financial statements.
- Founder-led board - the six-member board is chaired by founder Jeetmal B. Parekh, with his two sons as managing director and joint managing director, alongside three independent directors.