Meenakshi India Limited, which was listed on the BSE Main Board on July 28 at ₹281.99 a share, is targeting revenue of ₹450–500 crore by FY30, nearly triple its FY26 revenue of ₹150.76 crore.

In an interaction, Chairperson & Managing Director Ashutosh Goenka said the company may not meet this timeline, stating the target could be “off by six months to a year” given the current geopolitical situation.

The Chennai-based apparel manufacturer’s FY26 revenue fell 9.36% year-on-year, from ₹166.33 crore in FY25. Profit After Tax dropped 73.25%, from ₹39.10 crore to ₹10.46 crore, while Operational EBITDA fell 65.44%, from ₹29.51 crore to ₹10.20 crore.

Q4 FY26 revenue fell 25.16% year-on-year to ₹45.72 crore, with PAT down 82.72% to ₹4.52 crore.

Mr. Goenka attributed the decline to U.S. tariffs, weaker retail demand in the U.S. and Europe, and discounts given to retain customers. He said the company’s ₹40-crore capacity expansion plan, aimed at raising annual production from 18 lakh to 35 lakh garments, is being executed in stages and would be scaled back if trade conditions do not improve.

“The European Union FTA is done. It’s not operational, but it’s done. It’s signed. The UK FTA is signed, and it’s operational... It’s only the US BTA which is not done yet. Two out of the three are done,” he said.

Meenakshi India employs around 1,700 people. Mr. Goenka said the company has increasingly been sourcing migrant workers from other states, noting that local workers in Tamil Nadu have been harder to retain, while migrant labour has shown better productivity as they are away from home specifically to work. He added that the company runs ongoing training, reskilling, and multi-skilling programmes for its workforce.

Published - August 05, 2026 11:00 am IST