C P S Shapers Ltd
Incorporated in 2012, C P S Shapers Ltd manufactures and sells compressed garments[1]
- Market Cap ₹ 231 Cr.
 - Current Price ₹ 1,045
 - High / Low ₹ 1,085 / 412
 - Stock P/E 1,359
 - Book Value ₹ 76.6
 - Dividend Yield 0.00 %
 - ROCE 4.81 %
 - ROE 1.18 %
 - Face Value ₹ 10.0
 
Pros
Cons
- Stock is trading at 13.6 times its book value
 - Though the company is reporting repeated profits, it is not paying out dividend
 - Company has low interest coverage ratio.
 - Debtor days have increased from 43.1 to 68.0 days.
 - Working capital days have increased from 85.9 days to 148 days
 
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Consumer Discretionary Textiles Textiles & Apparels Garments & Apparels
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 15.16 | 14.10 | 26.19 | 36.18 | 35.53 | 30.79 | |
| 15.55 | 12.47 | 23.79 | 31.37 | 32.39 | 28.89 | |
| Operating Profit | -0.39 | 1.63 | 2.40 | 4.81 | 3.14 | 1.90 | 
| OPM % | -2.57% | 11.56% | 9.16% | 13.29% | 8.84% | 6.17% | 
| 0.04 | 0.03 | 0.00 | 0.15 | 0.16 | 0.05 | |
| Interest | 1.01 | 1.06 | 0.86 | 0.99 | 1.53 | 1.05 | 
| Depreciation | 0.35 | 0.31 | 0.31 | 0.52 | 0.65 | 0.84 | 
| Profit before tax | -1.71 | 0.29 | 1.23 | 3.45 | 1.12 | 0.06 | 
| Tax % | -2.34% | -3.45% | -27.64% | 28.99% | 33.93% | -183.33% | 
| -1.68 | 0.31 | 1.57 | 2.46 | 0.74 | 0.17 | |
| EPS in Rs | -33.60 | 6.20 | 31.40 | 49.20 | 3.52 | 0.77 | 
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % | 
| 5 Years: | 15% | 
| 3 Years: | 6% | 
| TTM: | -13% | 
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % | 
| 5 Years: | 16% | 
| 3 Years: | -52% | 
| TTM: | -77% | 
| Stock Price CAGR | |
|---|---|
| 10 Years: | % | 
| 5 Years: | % | 
| 3 Years: | % | 
| 1 Year: | 136% | 
| Return on Equity | |
|---|---|
| 10 Years: | % | 
| 5 Years: | % | 
| 3 Years: | 15% | 
| Last Year: | 1% | 
Balance Sheet
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.50 | 0.50 | 0.50 | 0.50 | 2.10 | 2.21 | 
| Reserves | -3.16 | -2.85 | -1.21 | 1.25 | 9.89 | 14.72 | 
| 9.30 | 9.47 | 9.35 | 10.40 | 9.20 | 8.02 | |
| 3.58 | 3.90 | 4.12 | 5.32 | 4.19 | 4.31 | |
| Total Liabilities | 10.22 | 11.02 | 12.76 | 17.47 | 25.38 | 29.26 | 
| 2.28 | 2.07 | 2.84 | 3.60 | 4.84 | 6.22 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.85 | 0.00 | 
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 
| 7.94 | 8.95 | 9.92 | 13.87 | 19.69 | 23.04 | |
| Total Assets | 10.22 | 11.02 | 12.76 | 17.47 | 25.38 | 29.26 | 
Cash Flows
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| -0.28 | 1.05 | 1.98 | 1.12 | -2.56 | -2.55 | |
| -0.15 | -0.10 | -1.07 | -1.22 | -2.71 | -1.57 | |
| 0.51 | -0.88 | -0.98 | 0.10 | 6.77 | 2.54 | |
| Net Cash Flow | 0.08 | 0.08 | -0.07 | 0.00 | 1.51 | -1.58 | 
Ratios
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 29.13 | 57.47 | 36.65 | 26.13 | 35.24 | 68.04 | 
| Inventory Days | 300.44 | 368.34 | 153.36 | 219.63 | 309.97 | 371.11 | 
| Days Payable | 146.83 | 206.86 | 87.00 | 88.48 | 74.68 | 88.65 | 
| Cash Conversion Cycle | 182.73 | 218.95 | 103.02 | 157.28 | 270.52 | 350.51 | 
| Working Capital Days | -27.45 | -12.94 | 9.48 | 40.66 | 68.62 | 148.30 | 
| ROCE % | 19.62% | 26.52% | 42.71% | 15.90% | 4.81% | 
Documents
Announcements
- 
        
          General Updates
          
            28 October 2025 - NSE in-principle approval (28 Oct 2025) for 66,900 equity shares and 13,200 warrants at Rs750.
 - 
        
          Copy of Newspaper Publication
          
            17 October 2025 - EGM notice, e‑voting information and cut-off date published Oct 17, 2025; meeting via VC/OAVM.
 - 
        
          Shareholders meeting
          
            16 October 2025 - EGM Nov 8, 2025 to approve 66,900 shares and 13,200 warrants at Rs750 each (raise Rs6.00 crore).
 - 
        
          Copy of Newspaper Publication
          
            14 October 2025 - CPS Shapers published EGM notice on 14-Oct-2025 in Financial Express and Pratahkal for VC/OAVM meeting.
 - 
        
          Outcome of Board Meeting
          
            11 October 2025 - Revised Annexure B corrects post-issue shareholding table; typographical error; no other changes (11 Oct 2025)
 
Annual reports
Concalls
- 
      Sep 2025TranscriptNotesPPT
 
Business Overview:[1]
CPS Shapers Limited, operating under the brand Dermawear, is India’s first R&D-led shapewear and innerwear manufacturer for both men and women. The brand focuses on designing products suited to Indian body types, climate, and attire. Dermawear has sold over 1 crore units across 3,000 SKUs and has a strong retail presence in over 6,000 outlets nationwide.