ITFL—56

Indian Terrain Fashions Ltd

Apparel & AccessoriesVerified

Score breakdown

Profitability+9Sentiment+27Risk penalty-3Missing signals-3

Quality breakdown

Key fields100Profile38Conclusion96AI synthesis40Observations3

Indian Terrain Fashions Ltd has a debt-to-equity ratio of 0.64 and a current ratio of 1.72, indicating moderate leverage and reasonable short-term liquidity [doc:HA-latest]. However, the company's free cash flow is negative at -279.6 million INR, and its operating cash flow is only 192.4 million INR, suggesting limited capacity to service debt or fund operations without external financing [doc:HA-latest]. The company's profitability is weak, with a return on equity of -23.33% and a return on assets of -9.64%, both significantly below the typical performance of firms in the Apparel & Accessories industry [doc:HA-latest]. These metrics indicate that the company is not generating returns that meet the cost of capital or asset efficiency benchmarks. Indian Terrain Fashions Ltd distributes its products through approximately 234 exclusive outlets, 1,200 multi-brand outlets, 385 large format store doors, and four e-commerce platforms [doc:HA-latest]. The company's revenue is heavily concentrated in India, with no disclosed international operations, which may limit its growth potential and expose it to domestic economic fluctuations. The company's revenue for the latest period is 3.406 billion INR, but it is operating at a loss, with a net income of -426.6 million INR and an operating income of -226.6 million INR [doc:HA-latest]. The negative operating and net income suggest a challenging growth trajectory, with no clear signs of improvement in the near term. The risk assessment indicates a medium liquidity risk and a low dilution risk [doc:HA-latest]. However, the company's net cash position is negative after subtracting total debt, which could necessitate additional financing or asset sales to maintain operations [doc:HA-latest]. The company's capital expenditure of -32.4 million INR suggests some investment in growth, but the overall financial health remains a concern. Recent filings and transcripts do not indicate any major strategic shifts or new product launches that could significantly alter the company's financial trajectory [doc:HA-latest]. The company's performance appears to be constrained by operational inefficiencies and market conditions rather than external events.

Profile

CompanyIndian Terrain Fashions Ltd

TickerITFL.NS

SectorConsumer Cyclicals

BusinessCyclical Consumer Products

Industry groupCyclical Consumer Products

IndustryApparel & Accessories

AI analysis

Business. Indian Terrain Fashions Ltd is an India-based apparel retailer that operates through exclusive outlets, multi-brand outlets, large format stores, and e-commerce platforms, offering men's smart casual apparel under the Indian Terrain brand [doc:HA-latest].

Classification. Indian Terrain Fashions Ltd is classified under the Consumer Cyclicals economic sector, specifically in the Cyclical Consumer Products business sector and the Apparel & Accessories industry, with a classification confidence of 0.92 [doc:verified market data].

Key takeaways

Indian Terrain Fashions Ltd is operating at a loss with a negative return on equity and assets, indicating poor profitability.
The company's liquidity is moderate, but its free cash flow is negative, which may require external financing.
Revenue is heavily concentrated in India, with no international diversification, increasing exposure to domestic economic risks.
The company's capital expenditure is modest, and there are no recent strategic developments to suggest a turnaround.
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Financial snapshot

PeriodHA-latest

CurrencyINR

Revenue$3.41B

Gross profit$1.29B

Operating income-$226.6M

Net income-$426.6M

R&D—

SG&A—

D&A—

SBC—

Operating cash flow$192.4M

CapEx-$32.4M

Free cash flow-$279.6M

Total assets$4.42B

Total liabilities$2.60B

Total equity$1.83B

Cash & equivalents—

Long-term debt$1.17B

Annual history (last 5)

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Valuation

Market price—

Market cap—

Enterprise value—

P/E—

Reported non-GAAP P/E—

EV/Revenue—

EV/Op income—

EV/OCF—

P/B—

P/Tangible book—

Tangible book$1.83B

Net cash-$1.17B

Current ratio1.7

Debt/Equity0.6

ROA-9.6%

ROE-23.3%

Cash conversion-45.0%

CapEx/Revenue-0.9%

SBC/Revenue—

Asset intensity—

Dilution ratio0.0%

Risk assessment

Dilution riskLow

Liquidity riskMedium

Net cash is negative after subtracting total debt.

Industry benchmarks

Activity: Apparel & Accessories · cohort 2 companies

MetricITFLActivity

Op margin-6.7%6.6% medp25 4.6% · p75 8.7%bottom quartile

Net margin-12.5%3.7% medp25 2.0% · p75 5.5%bottom quartile

Gross margin37.8%57.5% medp25 57.5% · p75 57.5%bottom quartile

CapEx / revenue-0.9%1.1% medp25 0.9% · p75 1.4%bottom quartile

Debt / equity64.0%124.3% medp25 86.1% · p75 162.6%bottom quartile

Source data

Underlying data the analysis-pipeline pulls and audits. Fetch timestamps + content hashes show when each source was last refreshed.

Company fundamentalsperiod FQ-7 · history via verified-market-data

no public URL

2026-05-04 09:15 UTC#f20328fb

Source: analysis-pipeline (hybrid)Generated: 2026-05-04 09:16 UTCJob: 32e58e20