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Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

Credit Rating (CRISIL)
CARE D
Rates the company's debt-servicing ability — not the quality or value of its shares.
Rated: 25 Apr 2025
This rating is over a year old.
View Full ReportValuation
Financials (FY2024)
Source: CRISILInvestment Thesis
Nakoda Limited is under CIRP (insolvency). Major integrated polyester manufacturer (PET chips, POY, FDY, PTY, DTY); Surat, Gujarat; incorporated 1984. Phase-3 chips plant acquired by Sumeet Industries for ₹23.47 Cr in March 2026. South Korean subsidiary Indo Korean Petrochem Limited. Equity effectively worthless under CIRP.
Pros
Cons
Business Segments
Polyester Chips (PET)
Manufacturing of polyester (PET) chips; Phase-3 plant now being acquired by Sumeet Industries under CIRP slump sale.
POY / FDY / Texturized Yarn
Partially Oriented Yarn (POY), Fully Drawn Yarn (FDY), Polyester Texturized Yarn (PTY), Draw Texturized Yarn (DTY) manufacturing; 1,00,000 MTPA POY + expanded Phase II.
Revenue Model
Nakoda Limited generates revenue primarily from the sale of synthetic textile products — polyester yarn or fabric — to weavers, processors, garment manufacturers, or traders within Surat's textile ecosystem. Margins in this segment are thin and highly dependent on raw material costs and commodity pricing.
Detailed Analysis
Growth Plans
India's textile PLI scheme if accessed could provide government incentives for capacity expansion
China plus-one strategy driving global buyers to increase Indian synthetic textile sourcing
Surat's strong infrastructure and skilled workforce supporting operational recovery
Industry Tailwinds
India's textile PLI scheme if accessed could provide government incentives for capacity expansion
Recent Developments
Sumeet Industries Limited declared as successful bidder (H1) for Nakoda Limited's Phase-3 Polyester Chips Manufacturing Plant assets; acquisition under slump sale for ₹23.47 Cr; LOI approved March 11, 2026.
March 2026Comparable Companies
Frequently Asked Questions
About Nakoda Limited
Nakoda Limited is a Gujarat-based synthetic textile manufacturer engaged in producing polyester yarn, fabric, and related synthetic textile products. Gujarat is a major hub for India's synthetic textile industry, particularly around Surat — the 'City of Textiles' — which produces a significant portion of India's synthetic fabric output. Nakoda is a well-known name in Gujarat's textile industry, associated with polyester texturising, weaving, and trading operations. The company likely operates texturising machines converting partially oriented yarn (POY) into draw-textured yarn (DTY) for fabric weaving, or operates weaving looms producing fabric from polyester and blended yarns. Polyester textile manufacturers in India serve domestic garment makers, fabric traders, and export markets. India is one of the world's largest polyester producers and exporters. The sector benefits from Reliance Industries' backward integration into polyester, providing a stable domestic raw material base. Given limited detailed public data, specific financial metrics are not confirmed. Nakoda Limited operates in a competitive but large synthetic textiles market.
Key Milestones
Incorporated August 13, 1984 as Nakoda Textile Industries Private Limited; renamed Nakoda Limited on February 20, 2010
Commercial production commenced March 1997; POY capacity expanded to 1,00,000 MTPA in 2010
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Unlisted shares are illiquid and carry higher risk. Pricing is indicative, not live, and these are private off-market transactions with no exchange settlement guarantee. Read the full risk disclosure.
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China plus-one strategy driving global buyers to increase Indian synthetic textile sourcing
Surat's strong infrastructure and skilled workforce supporting operational recovery
Industry Headwinds
Risk of company becoming dormant or winding up given current price signal
Continued intense price competition from Chinese synthetic fabric manufacturers
Rising raw material and energy costs squeezing thin margins
CRISIL rating of CARE D — sub-investment grade; indicates elevated credit risk
Source: CRISIL
Share price of ₹0.01 is a strong indicator of financial distress; investors risk complete capital loss.
Source: Company Financial Filings
Polyester inputs are oil derivatives; volatile crude prices create significant cost unpredictability for small manufacturers.
Source: AlphaHub Research
Surat hosts thousands of synthetic textile firms; small scale operators struggle to differentiate on price, quality, or delivery.
Source: AlphaHub Research
Small textile traders in Surat often face receivable collection risk from buyers in volatile market conditions.
Source: AlphaHub Research
Environmental norms for dyeing and processing units in Surat have been tightened; compliance costs are rising.
Source: Regulatory Filings
Share price of ₹0.01 is a strong indicator of financial distress; investors risk complete capital loss.
Polyester inputs are oil derivatives; volatile crude prices create significant cost unpredictability for small manufacturers.
Surat hosts thousands of synthetic textile firms; small scale operators struggle to differentiate on price, quality, or delivery.
Small textile traders in Surat often face receivable collection risk from buyers in volatile market conditions.
Environmental norms for dyeing and processing units in Surat have been tightened; compliance costs are rising.
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South Korean subsidiary Indo Korean Petrochem Limited commenced September 2010 (1,00,000 MTPA CP plant)
Phase II expansion (Dec 2012): POY 70k + FDY 70k + PTY 30k + DTY 10k MTPA; authorized ₹150 Cr, paid-up ₹150 Cr
March 11, 2026: Sumeet Industries acquired Phase-3 chips plant for ₹23.47 Cr under CIRP slump sale