Chairperson Ashutosh Goenka warned that the ₹500‑crore FY30 revenue target could slip by six months to a year. The delay is attributed to US tariffs, weak retail demand in the US and Europe, and discounting to retain customers.

Key Takeaways

  • FY30 revenue goal of â‚ą500 crore may be delayed by 6‑12 months
  • US tariffs and soft retail demand in US/Europe are primary drivers
  • Capacity expansion plan could be scaled back if trade conditions remain poor

Meenakshi India Ltd., which listed on the BSE Main Board on July 28 at ₹281.99 a share, is targeting ₹450‑500 crore in revenue for FY30—almost triple its FY26 turnover of ₹150.76 crore.

In a recent interaction, Chairperson & Managing Director Ashutosh Goenka said the company may miss the timeline, noting the target could be “off by six months to a year” given the current geopolitical environment.

The Chennai‑based apparel maker’s FY26 revenue fell 9.36% YoY to ₹166.33 crore, while PAT slumped 73.25% to ₹10.46 crore and operational EBITDA dropped 65.44% to ₹10.20 crore.

Q4 FY26 revenue declined 25.16% YoY to ₹45.72 crore, with PAT down 82.72% to ₹4.52 crore. Goenka blamed the downturn on US tariffs, weaker retail demand in the US and Europe, and discounts offered to retain customers.

The company’s ₹40 crore capacity‑expansion plan, aimed at raising annual production from 1.8 million to 3.5 million garments, is being executed in stages and would be scaled back if trade conditions do not improve.

Historical Background

Over the past decade, Meenakshi India rapidly expanded its footprint in the Indian garment sector, but the 2020‑2022 period brought supply‑chain disruptions and domestic labour challenges that tested its resilience.

Why This Matters

BozokMedia analysis shows that a delay in Meenakshi India's FY30 target could signal broader stress in the Indian apparel export sector, affecting employment and downstream suppliers.

"If the capacity‑expansion plan is trimmed, it could reverberate across the entire industry’s production capacity," said financial analyst Rajesh Mishra.
Did You Know?: In 2021, Meenakshi India planned to set up a new factory in Europe to double its export capacity.

Frequently Asked Questions

Q1: Will the FY30 delay affect the company’s share price?
A: A potential delay may shift investor expectations, leading to short‑term volatility in the stock.

Q2: What recent changes has the company made to its labour strategy?
A: Meenakshi has increasingly hired migrant workers from other states and runs continuous training, reskilling, and multi‑skilling programmes.