Indian Terrain Fashions (INDTERRAIN) had a P/E of 315.6× on 6 Nov 2026, above the industry P/E of 35.3×, and the shares are 33% below their 52-week high. It earns ROCE of 9.9% and ROE of −2.7%, and sales fell 9.0% a year over 3 years. Debt is 0.55× equity. It is a small-cap company with a market cap of ₹144 Cr, ranked 12th of 14 Apparel Retail companies by market cap; the shares fell 29% over the past year.
- ₹28.94
- ₹29.00
- ₹28.06
- ₹28.91
- 12.9K
Health check
- ReturnsIn line
−29.0% over a year, better than 4 of 7 peers.
- Price tagPricier
P/E 315.6 vs industry 35.3.
- GrowthShrinking
Sales −9.0% a year over 3 years.
- ProfitabilityWeak
ROCE 9.9% vs peer median 16.5%.
- Balance sheetStretched
Debt 0.55× equity, interest covered 1.1×, Piotroski 4 of 9.
- Red flags4 to check
Return on equity is low at −2.7%.
Small cap
Defensive
Key metrics
- Market cap
- ₹144 Cr
- Small cap
- P/E
- 315.6
- Industry 35.3
- Price to book
- 0.77
- Peers 7.01
- Dividend yield
- 0.00%
- ROE
- −2.7%
- Peers 16.5%
- ROCE
- 9.9%
- Peers 16.5%
- Debt to equity
- 0.55
- Debt ₹102 Cr
- EPS (TTM)
- ₹0.09
- Face value ₹2
- OPM (TTM)
- 9.6%
- Net margin 0.1%
- Sales growth
- +18.8%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 0.37
- EV/EBITDA 5.1
Strengths and risks
Strengths
- Quarterly sales up 18.8% on a year ago.
Risks to check
- Return on equity is low at −2.7%.
- P/E of 315.6 against an industry P/E of 35.3.
- 33% below its 52-week high.
- Interest coverage of only 1.7×.
About Indian Terrain Fashions
Indian Terrain Fashions Limited engages in the retail of branded apparel through retail stores in India. It offers shirts, T-shirts, trousers, jeans, and shorts. The company also provides its products for men under the Indian Terrain brand name. It sells its products through various channels, including multi-branded outlets, exclusive brand outlets, large format stores, and e-commerce platforms. Indian Terrain Fashions Limited was founded in 2000 and is…
- Headquarters
- Chennai
- Employees
- 263
- Sector
- Consumer Cyclical
- ISIN
- INE611L01021
- Website
- indianterrain.com
Price range
- Avg volume (3M)
- 18.6K
- 1-year return
- minus 29.0%
- From 52-week high
- minus 33.4%
Peers · Apparel Retail
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TRENTTrent | 3,079.00 | plus 0.79% | 1,64,182 | 86.6 | 21.13 | 28.2% | 27.1% | 19.2% | 34.7% | 57.0% | 0.13% | minus 34.5% |
| METROBRANDMetro Brands | 824.55 | minus 2.74% | 22,477 | 54.4 | 10.75 | – | 21.2% | 30.1% | – | – | 0.73% | minus 25.0% |
| ABLBLAditya Birla Lifestyle Brands | 76.99 | minus 0.65% | 9,351 | 46.9 | 6.48 | 13.2% | 15.0% | 39.5% | – | – | 0.65% | minus 43.5% |
| V2RETAILV2 Retail | 173.50 | plus 7.54% | 6,326 | 34.2 | 7.01 | 20.6% | 26.0% | 14.8% | 54.1% | – | 0.00% | minus 34.2% |
| ARVINDFASNArvind Fashions | 342.85 | minus 3.27% | 4,585 | 34.7 | 4.86 | 19.6% | 16.5% | 13.2% | 9.0% | 49.4% | 0.47% | minus 35.3% |
| PERNIASPOPPurple Style Labs | 491.05 | minus 5.39% | 3,931 | – | 8.35 | −65.6% | −901.4% | −21.4% | 14.7% | – | 0.00% | minus 13.6% |
| STYLEBAAZABaazar Style Retail | 390.75 | plus 4.84% | 3,092 | 62.1 | 6.47 | 13.5% | 11.0% | 4.1% | 32.7% | 109.4% | 0.00% | plus 11.9% |
| INDTERRAINIndian Terrain Fashions | 28.40 | minus 1.76% | 144 | 315.6 | 0.77 | 9.9% | −2.7% | 3.9% | −9.0% | – | 0.00% | minus 29.0% |
| Median of 7 peers | – | −0.65% | 6,326 | 50.6 | 7.01 | 16.5% | 16.5% | 14.8% | 32.7% | 57.0% | 0.13% | −34.2% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 68.8 | 101 | 101 | 107 | 81.7 | |
| 67.8 | 92.5 | 89.4 | 95.7 | 75.7 | |
| 1 | 8.5 | 12 | 10.8 | 6.1 | |
| 1.5% | 8.4% | 11.8% | 10.1% | 7.4% | |
| 1.3 | 0.9 | 0.8 | 1.2 | 1.5 | |
| 4.5 | 4.7 | 4.7 | 5.2 | 4.5 | |
| 3.8 | 3.6 | 3.4 | 3.2 | 2.9 | |
| – | – | −0.6 | – | – | |
| −6 | 1.2 | 4.1 | 3.5 | 0.1 | |
| −2.5% | 133.0% | 36.9% | 125.4% | 692.9% | |
| −6.2 | −0.4 | 2.6 | −0.9 | −0.8 | |
| -1.22 | -0.08 | 0.51 | -0.18 | -0.16 |
Profit & loss
- Sales CAGR 3Y
- −9.0%
- ROE
- −2.7%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 501 | 456 | 341 | 378 | |
| – | minus 8.9% | minus 25.3% | +10.9% | |
| 443 | 422 | 347 | 345 | |
| 58 | 34.1 | −6.9 | 32.3 | |
| 11.6% | 7.5% | −2.0% | 8.5% | |
| 1.7 | 0.8 | 6.3 | 4.1 | |
| 24.7 | 21.3 | 21 | 19.1 | |
| 22.8 | 22.3 | 17.9 | 14.1 | |
| −1.7 | −1.5 | −1.5 | −0.6 | |
| 10.5 | −10.2 | −41 | 2.7 | |
| 32.5% | −46.9% | −4.0% | 281.2% | |
| 7.1 | −14.9 | −42.7 | −4.9 | |
| 1.62 | -3.37 | -9.48 | -0.98 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 8.9 | 8.9 | 9.1 | 10.1 | |
| 203 | 188 | 174 | 174 | |
| 109 | 143 | 117 | 102 | |
| 225 | 182 | 142 | 153 | |
| 546 | 522 | 442 | 439 | |
| 72.9 | 61.5 | 42.8 | 28.8 | |
| 0.2 | 0 | – | – | |
| – | 16.3 | 13.8 | 13 | |
| 17.1 | 9.2 | 13.2 | 41.9 | |
| 456 | 435 | 373 | 355 | |
| 546 | 522 | 442 | 439 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 9.6 | −14 | 19.2 | 19.4 | |
| 18.4 | 10.9 | 8.3 | −7 | |
| −30.5 | 3 | −14.9 | −25.3 | |
| −2.5 | −0.1 | 12.6 | −12.8 | |
| −1.1 | −0.6 | −3.2 | −1.6 | |
| 8.5 | −14.7 | 16 | 17.8 |
Shareholding pattern
- Promoters31.55%
- Public68.45%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 31.55% | 68.45% | 0.00 | |
| 30 Jun 2026 | 31.55% | 68.45% | 0.00 | |
| 31 Mar 2026 | 31.55% | 68.45% | 0.00 | |
| 31 Dec 2025 | 31.55% | 68.45% | 0.00 | |
| 30 Sep 2025 | 31.55% | 68.45% | – |
Major shareholders
Filings & events
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