Maharaja Shree Umaid Mills Ltd

Indicative price history

Key highlights

• Composite cotton mill at Pali, Rajasthan, founded 1939; part of the Kolkata-based L.N. Bangur group.
• FY25 sales about ₹600 Cr (FY24: ₹462 Cr with a ₹10 Cr loss); net worth ₹771.97 Cr at March 2025 on 20.06 Cr shares (book value about ₹38.5).
• Formerly BSE-listed (530059), now delisted; group company Peria Karamalai Tea acquired MSUM shares in April 2026.
• UnlistedZone ₹135 (21 Jul 2026, lot 250) implies about ₹2,708 Cr market value — 3.5x book; dealer quotes range ₹134.50–₹200.

About MSUM

Maharaja Shree Umaid Mills Limited (MSUM) is one of Rajasthan's oldest textile companies. Founded in 1939 under the patronage of Maharaja Umaid Singh of Jodhpur, it runs a composite cotton mill at Pali-Marwar — spinning, weaving and processing — producing cotton and blended yarns and grey and finished fabrics for domestic textile hubs and export markets. The company is part of the Kolkata-based L.N. Bangur group (Kiran Vyapar, The Peria Karamalai Tea & Produce Company, Amalgamated Development and others) and is chaired by Lakshmi Niwas Bangur; alongside the mill it carries a sizeable investment portfolio typical of Bangur group companies.

MSUM was for decades a listed company on the Bombay Stock Exchange (scrip code 530059); market data sites now show the stock as delisted, and its shares — ISIN INE087D01013, face value ₹10 — trade off-market through unlisted-share dealers. In April 2026 group company Peria Karamalai Tea & Produce (NSE: PKTEA) filed an intimation with the exchanges about acquiring shares of MSUM, an intra-group consolidation of the promoter holding whose size was not captured in this research. The company has 20.06 Cr shares (equity capital ₹200.58 Cr).

Financial performance has been uneven. FY24 (year to March 2024) total revenue was flat at about ₹462 Cr (−1% on FY23) and the company reported a net loss of about ₹10 Cr as cotton-yarn spreads collapsed across the industry. Aggregator tables for FY25 show sales of ₹600.35 Cr against operating expenses of ₹448.21 Cr — a sharp rebound that likely includes investment and other income — and net worth of ₹771.97 Cr at 31 March 2025 (book value about ₹38.5 a share). FY25 net profit, borrowings and cash flows were not captured and are estimated here; the FY25 annual report should be consulted before relying on them.

At the UnlistedZone indicative price of ₹135 (21 July 2026; lot 250) the implied market capitalisation is about ₹2,708 Cr — roughly 3.5 times reported net worth and about 4.5 times FY25 sales, a rich multiple for a cotton mill that was loss-making a year earlier, and one that only makes sense if the investment portfolio and Pali land bank are worth far more than book. Planify quoted ₹134.50 (3 August 2026); wwipl's last trade was ₹200 (52-week high, 28 November 2025), so dealer levels vary by almost 50%.

Verification status (10 Oct 2026): ISIN, face value, lot, rate and the 2,708 Cr market cap are from UnlistedZone; equity capital (₹200.58 Cr), March 2025 net worth (₹771.97 Cr) and FY25 sales/operating expenses are from IIFL and Moneyworks4me aggregator tables; FY24 revenue and loss are from a Planify results note; the chairman, group identity, BSE code and delisted status are from Business Standard and Screener pages; the PKTEA acquisition intimation is an NSE filing seen only by title. The exact incorporation date, CIN, FY25 profit, borrowings, fixed assets, cash flows, headcount, segment split and shareholding percentages are estimates or unverified.

Where the revenue comes from

• Cotton & blended yarn55%

  Ring-spun cotton and blended yarns from the Pali spinning unit (estimate)

• Grey & finished fabric35%

  Woven and processed fabrics for garment and home-textile buyers (estimate)

• Investments & other income10%

  Dividend, interest and gains on the group-style investment portfolio (estimate)

Products & services