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Sanrhea Technical Textiles - Long above the wedgesA Gujarat weaver incorporated in 1983 found its actual business in 1997, at a small converting shed in Kalol.
It weaves heavy nylon and polyester on Sulzer looms up to 3.5 metres wide, then dips the cloth in resorcinol formaldehyde latex so rubber will bond to it and stay bonded.
That dipping step is the whole company: a belt that delaminates or a tyre whose chafer fails is a warranty event for a customer many times its size, so tyre and belt makers qualify slowly and leave reluctantly.
For twenty years it was too small to matter, losing money in FY16 on Rs 19.89 crore of revenue and losing money again in FY20.
Through those years Tushar Patel quietly did the one thing that counts: he bought, taking warrants in FY18, FY19, October 2021 and FY26, walking his stake from 52.02 percent to 74.98 percent with his own money and no pledge behind it.
Every one of those rounds also diluted everybody else, and at 74.98 percent the route is now closed.
FY22 was the turn, revenue nearly doubling to Rs 68.31 crore at a 34 percent ROCE, with margins finding a 12 to 14 percent band the company had never held.
FY25 was the price of it: Rs 5 crore of capex, borrowings at Rs 14.04 crore, free cash flow at minus Rs 6.39 crore.
FY26 collected the bill, delivering Rs 80.45 crore of revenue, Rs 12.67 crore of operating cash against Rs 11.06 crore of operating profit, and debt cut to Rs 4.00 crore.
Then June 2026 printed the biggest quarter in company history, revenue up 59.6 percent and profit up 102 percent, because the new capacity is running while the interest bill shrinks.
Two lines spoil the party.
Margin in that record quarter was 11.96 percent against 18.79 percent in March, so the growth is volume bought with price, not pricing power earned.
And on 19 December 2025 shareholders voted the managing director up to Rs 21 lakh a month plus 1 percent of profits, Rs 2.52 crore of fixed salary against Rs 5.68 crore of earnings, contracted for three years.
At Rs 151 the market pays 12.8 times trailing for a real niche, a repaired balance sheet, a qualification moat that has never shown up in margin, and a promoter who has taken more at every opportunity.
This is looking like a turnaround and the Cashflow to Netprofit is good over 1.5.. I am long on it. Disclaimer - I might be invested. I might sell anytime or buy and sell anytime now or in the future. This is just for tracking and learning. Techno-funda case with turnaround as the theme. 
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IOC Weekly Chart Analysis | Key Levels to WatchIndian Oil Corporation is currently trading in a consolidation phase on the weekly timeframe, with price moving between a major demand zone near ₹131–132 and an immediate resistance area around ₹145–150.
The bigger picture still looks constructive as long as the long-term rising structure remains intact. However, at the current level, I would prefer to wait for confirmation rather than anticipate the next move.
Bullish scenario:
A strong weekly close above ₹145–150, followed by a successful retest, could indicate that the consolidation is breaking to the upside. In that case, ₹160–170 could be the next area to watch, followed by the major supply zone around ₹185–189.
Bearish scenario:
If ₹131–132 fails to hold on a weekly closing basis, the structure could weaken significantly. In that case, ₹113–114 becomes the next important support, followed by the ₹101 area.
For me, the key levels are simple:
₹150 → bullish breakout confirmation
₹131–132 → major demand / support
₹113–114 → next downside support
₹101 → deeper support
₹185–189 → major supply zone
Right now, I'm treating this as a wait-for-confirmation setup rather than predicting the direction.
Let's see which side of the range price breaks first. 📈📉 
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