Scans

Tools

Home

Charts

Watchlist

Products

M K Exim (India) Ltd

MKEXIM

NSE

₹56.81-0.18%19 Oct 2026

Reports

Trading

M K Exim (India) Ltd

MKEXIM

NSE

₹56.81

-0.18%

19 Oct 2026

SOICxStockScans Reports

Ask AI

Trading

Indices

Business Overview: What the company does, in plain English.Growth Catalysts: The forward growth drivers and triggers.Forensic Report: Accounting quality and red flags.

M.K. Exim (India) Limited is a listed Indian company that has transformed itself from a textile exporter into a business where roughly four out of every five rupees earned now come from distributing international cosmetics brands across India. The pivot began in 2019 when the company started a pan-India distributorship for personal-care products, layering a high-volume consumer-goods engine on top of its original fabric-and-garment manufacturing base. The recurring approach is to run each engine through a tight-knit network of related-party firms - one for weaving, one for distribution - that act as the operational backbone for sourcing, production and market reach.

Business segments

Three engines at different stages - a consumer-distribution powerhouse, a legacy textile exporter, and a small associate weaver - each built on a related-party operating model that keeps the company asset-light.

1. Cosmetics & hair care: the consumer engine that now drives the company

A pan-India distributorship of international personal-care brands, run through a related-party principal dealer that provides the import network, the brand relationships and the route to market.

Distributor, not manufacturer - the company buys and sells cosmetic products through M/s Manish Overseas, a proprietorship firm of the Chairman that has been importing and marketing global hair and personal-care brands through an extensive dealer network for a long time. The company purchases from and sells to this principal dealer, which handles the actual import, marketing and distribution logistics.
National reach through channel partners - the FMCG brand is well established with a pan-India presence and dedicated channel partners nationwide, so products move through dealers, sub-dealers and direct marketing into hypermarkets, big-box stores, warehouse clubs and small convenience stores.
High-velocity inventory - the products are fast-moving consumer goods with high inventory turnover, meaning cash cycles are short and the business does not need to tie up capital in slow-moving stock.
Premium salon play - in December 2021 the company launched K18 Biomimetic Hairscience, a professional haircare line featuring a patented peptide that reverses hair damage, targeted exclusively at salons with a plan to enter 5,000 top salons across India. Distribution began in January 2022, adding a professional channel alongside the mass-market network.
Rural India is the growth runway - India’s per-capita FMCG consumption is among the lowest in the world, and rural markets account for more than 60% of the population but only about 30% of FMCG consumption, so the company is deliberately targeting these under-penetrated rural markets.

2. Fabrics, garments & plastic material: the legacy textile exporter

A manufacturing-and-export business for finished fabrics, grey cloth and garments, where the company supplies the yarn and a related-party weaving unit does the production.

Exports are the core - the textile segment earns foreign exchange by exporting finished fabrics and garments to international markets, with export sales of ₹1,383.88 lakhs in FY25. The export share of total revenue has been declining - about 20% in FY24, down from roughly 27% in FY23 and 28% in FY22 - as the FMCG business grew faster.
Asset-light weaving through a related party - the company supplies yarn to M/s Laaj International, a sole proprietorship of the Managing Director that runs a large modern weaving and processing unit in Bhiwandi, Maharashtra, for job work to produce grey fabric. This means the company avoids owning the weaving machinery itself while retaining control over production.
A second weaving partner in Gujarat - the company also proposes to contract with its associate company, Kolba Farm Fab Private Limited, for job work in greys, cloth and other textile products, giving it access to an upgraded modern weaving unit in Surat that serves customers in and around Gujarat.
Tailwinds and headwinds - India is the world’s third-largest exporter of textiles and apparel, and global buyers are diversifying away from China, with potential free-trade agreements with the UK and Canada offering export growth avenues. But the Israel-Palestine conflict hurt exports to Gulf countries including UAE and Saudi Arabia because retailers turned cautious and customs scrutiny increased, and Vietnam’s FTA with the EU has strengthened its competitive position in that market.

3. Kolba Farm Fab: the associate weaving unit

A small, modern weaving mill in Surat in which the company holds a minority stake, used as a job-work partner for the textile segment.

From subsidiary to associate - Kolba Farm Fab Private Limited was originally a subsidiary, but the company’s shareholding fell from 70.71% to 48.98% in December 2020 when it did not subscribe to a rights issue, so it became an associate company.
A Gujarat production base - Kolba Farm Fab Private Limited, an associate company, has an upgraded and modern weaving unit in Surat and is known for quality products, meeting the requirements of various customers for fabric and related products in and around Gujarat.
Modest scale - for the year ended March 2025, the associate had total assets of ₹885.12 lakhs, total revenue of ₹329.97 lakhs and a net loss of ₹40.29 lakhs, so it is a small piece of the overall picture.

Group structure and partners

The company is held together by two related-party proprietorship firms - one for FMCG distribution, one for textile job work - that are owned by the Chairman and the Managing Director respectively, making the operating model inseparable from its promoters.

M/s Manish Overseas is the FMCG engine room - owned by the Chairman, this firm has been importing, marketing and selling hair and personal-care products of global brands through an extensive dealer network for a long time, and it acts as the principal dealer through which the company buys and sells all its cosmetic products. The company has approved a related-party transaction limit of up to ₹300 crore per financial year with this firm for five years from FY 2024-25 to FY 2028-29 - roughly 2.8 times the company’s annual consolidated turnover at the time of approval.
M/s Laaj International is the textile production arm - owned by the Managing Director, this sole proprietorship runs a large modern weaving and processing unit in Bhiwandi, Maharashtra, and does job work for the company to convert yarn into grey fabric. The company has proposed to purchase up to ₹50 crore of textile fabrics from this firm per year.
Listed but closely held - the company’s equity shares trade on BSE Limited, and it has expanded its authorised share capital in steps from ₹10 crore to ₹60 crore, undertaking bonus issues in January 2022 and January 2024 that brought the paid-up capital to ₹4,036.73 lakhs across roughly 4.04 crore shares.
A wide charter for the future - in September 2024 the company altered its Memorandum of Association to expand its objects to include electrical products, metals and mining, bio-fuel and agriculture, hospitality, beauty and wellness services, education, minerals, and various other trading and manufacturing activities, signalling an appetite for further diversification.

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Price

Charts

Documents

Edit Ratios

Mkt Cap

Market Capitalization

₹229Cr

Close Price

₹56.81

Industry

Trading

Price To Earnings

23.28

Price To Sales

2.36

Revenue

₹97Cr

Rev Gr TTM

Revenue Growth TTM

83.93%

PAT Gr TTM

PAT Growth TTM

789.84%

Consolidated

Standalone

Numbers

Percentage

Quarter	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021
Revenue RevenueCr	6	9	3	9	8	8	18	20	6	13	18	20
Growth YoY Revenue Growth YoY%					31.5	-11.0	480.3	129.7	-14.9	70.3	2.0	-0.6
Expenses ExpensesCr	6	9	4	8	7	8	16	18	6	12	14	15
Operating Profit Operating ProfitCr	0	0	-1	0	0	0	1	2	0	2	4	5
OPM OPM%	3.1	1.8	-16.4	4.9	3.2	0.1	7.4	11.2	7.3	12.7	24.5	25.1
Other Income Other IncomeCr	0	0	1	0	0	-1	0	1	0	0	0	0
Interest Expense Interest ExpenseCr	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0	0	0	0
PBT PBTCr	0	0	0	0	0	-1	1	3	0	1	4	5
Tax TaxCr	0	0	0	0	0	0	0	1	0	0	0	3
PAT PATCr	0	0	0	0	0	-1	1	2	0	1	4	2
Growth YoY PAT Growth YoY%					90.9	-626.3	1,366.7	2,766.7	-81.0	240.0	222.7	34.9
NPM NPM%	1.9	2.1	3.0	0.7	2.8	-12.6	7.5	8.7	0.6	10.4	23.6	11.8
EPS EPS₹	0.0	0.1	0.0	0.0	0.1	-0.3	0.4	0.5	0.1	0.5	1.3	0.7

Quarter	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021
Revenue RevenueCr	6	9	3	9	8	8	18	20	6	13	18	20
Growth YoY Revenue Growth YoY%					31.5	-11.0	480.3	129.7	-14.9	70.3	2.0	-0.6
Expenses ExpensesCr	6	9	4	8	7	8	16	18	6	12	14	15
Operating Profit Operating ProfitCr	0	0	-1	0	0	0	1	2	0	2	4	5
OPM OPM%	3.1	1.8	-16.4	4.9	3.2	0.1	7.4	11.2	7.3	12.7	24.5	25.1
Other Income Other IncomeCr	0	0	1	0	0	-1	0	1	0	0	0	0
Interest Expense Interest ExpenseCr	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0	0	0	0
PBT PBTCr	0	0	0	0	0	-1	1	3	0	1	4	5
Tax TaxCr	0	0	0	0	0	0	0	1	0	0	0	3
PAT PATCr	0	0	0	0	0	-1	1	2	0	1	4	2
Growth YoY PAT Growth YoY%					90.9	-626.3	1,366.7	2,766.7	-81.0	240.0	222.7	34.9
NPM NPM%	1.9	2.1	3.0	0.7	2.8	-12.6	7.5	8.7	0.6	10.4	23.6	11.8
EPS EPS₹	0.0	0.1	0.0	0.0	0.1	-0.3	0.4	0.5	0.1	0.5	1.3	0.7

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue RevenueCr	51	39	29	22	27	53	58	73	104	92	93	97
Growth Revenue Growth%		-22.9	-26.1	-23.9	23.9	94.1	8.8	27.2	41.6	-10.9	0.3	5.0
Expenses ExpensesCr	50	37	29	21	27	50	46	56	84	73	70	72
Operating Profit Operating ProfitCr	1	3	0	1	0	3	11	17	19	20	23	25
OPM OPM%	1.8	6.6	0.9	5.5	1.6	5.1	20.0	23.8	18.6	21.1	24.9	25.8
Other Income Other IncomeCr	0	0	3	1	2	2	1	1	3	2	2	3
Interest Expense Interest ExpenseCr	0	1	1	1	0	0	0	0	0	0	0	0
Depreciation DepreciationCr	0	1	1	1	1	1	1	0	0	1	1	1
PBT PBTCr	1	1	1	1	1	4	11	18	22	21	25	27
Tax TaxCr	0	0	0	0	0	1	3	5	6	5	7	7
PAT PATCr	1	0	1	0	1	2	8	13	16	15	18	20
Growth PAT Growth%		-12.7	103.9	-55.9	26.8	343.1	257.9	65.0	23.5	-6.4	17.4	11.3
NPM NPM%	1.0	1.1	3.1	1.8	1.9	4.2	13.9	18.1	15.8	16.6	19.4	20.6
EPS EPS₹	0.2	0.1	0.3	0.1	0.1	0.7	2.3	5.0	6.2	3.8	4.4	4.7

Financial Year	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue RevenueCr	51	39	29	22	27	53	58	73	104	92	93	97
Growth Revenue Growth%		-22.9	-26.1	-23.9	23.9	94.1	8.8	27.2	41.6	-10.9	0.3	5.0
Expenses ExpensesCr	50	37	29	21	27	50	46	56	84	73	70	72
Operating Profit Operating ProfitCr	1	3	0	1	0	3	11	17	19	20	23	25
OPM OPM%	1.8	6.6	0.9	5.5	1.6	5.1	20.0	23.8	18.6	21.1	24.9	25.8
Other Income Other IncomeCr	0	0	3	1	2	2	1	1	3	2	2	3
Interest Expense Interest ExpenseCr	0	1	1	1	0	0	0	0	0	0	0	0
Depreciation DepreciationCr	0	1	1	1	1	1	1	0	0	1	1	1
PBT PBTCr	1	1	1	1	1	4	11	18	22	21	25	27
Tax TaxCr	0	0	0	0	0	1	3	5	6	5	7	7
PAT PATCr	1	0	1	0	1	2	8	13	16	15	18	20
Growth PAT Growth%		-12.7	103.9	-55.9	26.8	343.1	257.9	65.0	23.5	-6.4	17.4	11.3
NPM NPM%	1.0	1.1	3.1	1.8	1.9	4.2	13.9	18.1	15.8	16.6	19.4	20.6
EPS EPS₹	0.2	0.1	0.3	0.1	0.1	0.7	2.3	5.0	6.2	3.8	4.4	4.7

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	7	7	7	7	7	7	9	27	27	40	40	40
Reserves ReservesCr	15	16	16	17	17	20	30	26	42	44	60	79
Current Liabilities Current LiabilitiesCr	34	39	26	7	5	10	5	7	11	2	3	5
Non Current Liabilities Non Current LiabilitiesCr	0	3	1	0	0	4	0	0	0	0	0	2
Total Liabilities Total LiabilitiesCr	56	65	52	32	30	43	45	60	80	87	104	126
Current Assets Current AssetsCr	53	57	44	26	25	31	39	50	68	72	89	110
Non Current Assets Non Current AssetsCr	3	8	7	6	5	12	6	9	11	14	14	16
Total Assets Total AssetsCr	56	65	52	32	30	43	45	60	80	87	104	126

Financial Year	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	7	7	7	7	7	7	9	27	27	40	40	40
Reserves ReservesCr	15	16	16	17	17	20	30	26	42	44	60	79
Current Liabilities Current LiabilitiesCr	34	39	26	7	5	10	5	7	11	2	3	5
Non Current Liabilities Non Current LiabilitiesCr	0	3	1	0	0	4	0	0	0	0	0	2
Total Liabilities Total LiabilitiesCr	56	65	52	32	30	43	45	60	80	87	104	126
Current Assets Current AssetsCr	53	57	44	26	25	31	39	50	68	72	89	110
Non Current Assets Non Current AssetsCr	3	8	7	6	5	12	6	9	11	14	14	16
Total Assets Total AssetsCr	56	65	52	32	30	43	45	60	80	87	104	126

Consolidated

Standalone

Financial Year	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	1	0	2	0	1	4	3	4	6	19	-2	7
Investing Cash Flow Investing Cash FlowCr	-1	0	-1	0	0	-7	5	-4	-2	-24	6	-11
Financing Cash Flow Financing Cash FlowCr	0	0	-2	0	-1	3	-1	1	-2	-2	-2	1
Net Cash Flow Net Cash FlowCr	0	0	0	0	0	0	7	1	2	-7	2	-3
Free Cash Flow Free Cash FlowCr	0	0	2	0	0	-1	8	0	4	15	-2	4
CFO To PAT CFO To PAT%	107.0	0.0	233.3	80.2	159.2	174.6	32.2	29.7	35.6	122.6	-8.7	36.2
CFO To EBITDA CFO To EBITDA%	60.0	0.0	841.7	26.6	179.6	144.1	22.5	22.6	30.1	96.3	-6.8	28.8

Financial Year	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	1	0	2	0	1	4	3	4	6	19	-2	7
Investing Cash Flow Investing Cash FlowCr	-1	0	-1	0	0	-7	5	-4	-2	-24	6	-11
Financing Cash Flow Financing Cash FlowCr	0	0	-2	0	-1	3	-1	1	-2	-2	-2	1
Net Cash Flow Net Cash FlowCr	0	0	0	0	0	0	7	1	2	-7	2	-3
Free Cash Flow Free Cash FlowCr	0	0	2	0	0	-1	8	0	4	15	-2	4
CFO To PAT CFO To PAT%	107.0	0.0	233.3	80.2	159.2	174.6	32.2	29.7	35.6	122.6	-8.7	36.2
CFO To EBITDA CFO To EBITDA%	60.0	0.0	841.7	26.6	179.6	144.1	22.5	22.6	30.1	96.3	-6.8	28.8

Consolidated

Standalone

Financial Year	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	6	9	5	6	10	15	29	246	216	301	290	163	229
Price To Earnings Price To Earnings	14.7	25.6	6.4	15.1	20.5	6.9	3.6	18.5	13.0	19.5	16.3	8.7	23.3
Price To Sales Price To Sales	0.1	0.2	0.2	0.3	0.4	0.3	0.5	3.4	2.1	3.3	3.1	1.7	2.4
Price To Book Price To Book	0.3	0.4	0.2	0.2	0.4	0.6	0.7	4.7	3.1	3.6	2.9	1.4	1.9
EV To EBITDA EV To EBITDA	8.4	5.8	39.1	8.4	30.1	8.0	2.2	13.9	10.8	14.3	11.7	5.5	8.1
Profitability Ratios Profitability Ratios
GPM GPM%	4.8	12.3	8.2	18.3	14.0	27.4	36.2	40.6	34.3	37.8	45.7	49.1	49.1
OPM OPM%	1.8	6.6	0.9	5.5	1.6	5.1	20.0	23.8	18.6	21.1	24.9	25.8	25.8
NPM NPM%	1.0	1.1	3.1	1.8	1.9	4.2	13.9	18.1	15.8	16.6	19.4	20.6	20.6
ROCE ROCE%	3.8	5.5	7.6	4.7	4.6	11.9	27.0	32.2	31.3	24.5	24.5	22.5	22.5
ROE ROE%	2.3	2.0	3.9	1.7	2.1	8.1	20.5	25.2	23.7	18.1	17.9	16.8	16.8
ROA ROA%	0.9	0.7	1.8	1.3	1.7	5.3	18.0	22.3	20.5	17.7	17.4	15.9	15.9
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	6	9	5	6	10	15	29	246	216	301	290	163	229
Price To Earnings Price To Earnings	14.7	25.6	6.4	15.1	20.5	6.9	3.6	18.5	13.0	19.5	16.3	8.7	23.3
Price To Sales Price To Sales	0.1	0.2	0.2	0.3	0.4	0.3	0.5	3.4	2.1	3.3	3.1	1.7	2.4
Price To Book Price To Book	0.3	0.4	0.2	0.2	0.4	0.6	0.7	4.7	3.1	3.6	2.9	1.4	1.9
EV To EBITDA EV To EBITDA	8.4	5.8	39.1	8.4	30.1	8.0	2.2	13.9	10.8	14.3	11.7	5.5	8.1
Profitability Ratios Profitability Ratios
GPM GPM%	4.8	12.3	8.2	18.3	14.0	27.4	36.2	40.6	34.3	37.8	45.7	49.1	49.1
OPM OPM%	1.8	6.6	0.9	5.5	1.6	5.1	20.0	23.8	18.6	21.1	24.9	25.8	25.8
NPM NPM%	1.0	1.1	3.1	1.8	1.9	4.2	13.9	18.1	15.8	16.6	19.4	20.6	20.6
ROCE ROCE%	3.8	5.5	7.6	4.7	4.6	11.9	27.0	32.2	31.3	24.5	24.5	22.5	22.5
ROE ROE%	2.3	2.0	3.9	1.7	2.1	8.1	20.5	25.2	23.7	18.1	17.9	16.8	16.8
ROA ROA%	0.9	0.7	1.8	1.3	1.7	5.3	18.0	22.3	20.5	17.7	17.4	15.9	15.9
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

	ABANSENT	TIERRA	LEMERITE	MKEXIM	SAKUMA	INTEGFD	COMPEAU
Market CapitalizationMkt CapCr	240	239	238	229	229	228	228
Close PriceClose₹	34.42	36.50	18.98	56.81	1.46	12.20	370.95
IndustryIndustry	Trading	Trading	Trading	Trading	Trading	Trading	Trading
Price To EarningsPE	7.50		8.18	23.28	20.86	305.00	9.18
Price To SalesPS	0.02	2.13	0.71	2.36	0.14	11.17	0.09
RevenueRevenueCr	14,419	112	337	97	1,666	20	2,646
Revenue Growth TTMRev Gr TTM%	191.3%	66.4%		83.9%	-13.4%	-4.9%	25.4%
PAT Growth TTMPAT Gr TTM%	67.5%	37.5%		789.8%	-0.7%	132.0%	17.6%

	ABANSENT	TIERRA	LEMERITE	MKEXIM	SAKUMA	INTEGFD	COMPEAU
Market CapitalizationMkt CapCr	240	239	238	229	229	228	228
Close PriceClose₹	34.42	36.50	18.98	56.81	1.46	12.20	370.95
IndustryIndustry	Trading	Trading	Trading	Trading	Trading	Trading	Trading
Price To EarningsPE	7.50		8.18	23.28	20.86	305.00	9.18
Price To SalesPS	0.02	2.13	0.71	2.36	0.14	11.17	0.09
RevenueRevenueCr	14,419	112	337	97	1,666	20	2,646
Revenue Growth TTMRev Gr TTM%	191.3%	66.4%		83.9%	-13.4%	-4.9%	25.4%
PAT Growth TTMPAT Gr TTM%	67.5%	37.5%		789.8%	-0.7%	132.0%	17.6%

FY2026

FY2025

FY2024

FY2023

FY2022

FY2021

FY2020

FY2026

Jun 26