Q1FY27 Financial Highlights
Total Income stood at Rs. 322.4 crore, a growth of 4.1% Year-on-Year (YoY) from Rs. 309.6 crore in Q1FY26. On a Quarter-on-Quarter (QoQ) basis, it declined by 12.7% from Rs. 369.3 crore in Q4FY26.
Revenue from Operations was Rs. 315.8 crore for the quarter.
EBITDA was Rs. 29.5 crore, a significant increase of 34.2% YoY from Rs. 21.9 crore in Q1FY26. Sequentially, it decreased by 36.1% from Rs. 46.0 crore in Q4FY26.
EBITDA Margin was 9.1%, an improvement from 7.1% in Q1FY26 but lower than 12.5% in Q4FY26.
Profit After Tax (PAT) was Rs. 4.4 crore, a turnaround from a loss of Rs. 1.4 crore in Q1FY26. Sequentially, it decreased by 55.2% from Rs. 9.6 crore in Q4FY26.
PAT Margin was 1.4%, compared to -0.5% in Q1FY26 and 2.6% in Q4FY26.
Earnings Per Share (EPS) was Rs. 1.29 for the quarter.
Production Value for the quarter was Rs. 331.3 crore.
Expenditure Breakdown (Q1FY27)
Raw materials Cost: Rs. 125.9 crore
Employee Expense: Rs. 80.3 crore, impacted by revisions in minimum wages and salary increments.
Power & Fuel: Rs. 35.4 crore, increased due to higher coal prices.
Other Expenses: Rs. 51.2 crore
Depreciation: Rs. 13.7 crore
Finance Cost: Rs. 9.9 crore
Divisional Operational Performance (Q1FY27)
Yarn Division
Revenue: Rs. 96 crore (Q1FY26: Rs. 110 crore; -12% YoY)
Sales Volume: 36 lakh kgs (Q1FY26: 51 lakh kgs; -29% YoY)
Capacity Utilization: 70% (flat YoY)
Performance was impacted by temporary labour shortages affecting production, as indicated in the previous quarter. Improved domestic yarn realizations partially offset the revenue impact. Increased internal consumption of yarn to support downstream Fabric and Garment businesses also impacted external sales volumes.
Fabric Division
Revenue: Rs. 147 crore (Q1FY26: Rs. 117 crore; +25% YoY)
Sales Volume: 59 lakh meters (Q1FY26: 50 lakh meters; +18% YoY)
Capacity Utilization: 80% (Q1FY26: 70%)
Growth was driven by a continued shift towards value-added fabrics (Bi-Stretch, Poly-rich Blends, Wool Blends). Healthy performance was noted in the USA, Middle East, and Domestic markets, while European demand remained subdued. The division added new global customers, including Haggar and NEXT.
Garment Division
Revenue: Rs. 69 crore (Q1FY26: Rs. 75 crore; -8% YoY)
Sales Volume: 8 lakh pieces (Q1FY26: 9 lakh pieces; -15% YoY)
Capacity Utilization: 69% (Q1FY26: 78%)
Q1 is typically a seasonally weaker quarter. Performance was further impacted by temporary export logistics constraints and customer pickup delays due to geopolitical uncertainties. The order book is reported as healthy and fully booked through November. New customers onboarded include C&A and NEXT.
Management Commentary
Mr. Ravindra Kumar Toshniwal, Vice-Chairman, stated that FY27 commenced on a steady note. He cited a healthy order book, the addition of marquee customers, operationalization of Free Trade Agreements (FTAs), and the company's vertically integrated model as reasons for confidence in achieving the FY27 guidance.
FY26 Full Year Financials (Standalone)
Revenue from Operations: Rs. 1,355.8 crore (FY25: Rs. 1,291.7 crore)
Total Income: Rs. 1,369.7 crore (FY25: Rs. 1,307.5 crore)
EBITDA: Rs. 143.6 crore (FY25: Rs. 117.2 crore)
EBITDA Margin: 10.5% (FY25: 9.0%)
PAT: Rs. 28.4 crore (FY25: Rs. 21.4 crore)
PAT Margin: 2.1% (FY25: 1.6%)
EPS: Rs. 8.30 (FY25: Rs. 6.25)
An Exceptional Item of Rs. 8.9 crore was recorded in FY26.
Balance Sheet & Cash Flow (Standalone, as of Mar-26)
Net Debt stood at Rs. 472.38 crore as of June 30, 2026, a decrease of Rs. 10.80 crore.
Debt-Equity Ratio was 0.8x as of March 31, 2026.
Net Cash from Operating Activities for FY26 was Rs. 120.8 crore.
Net Cash from Investing Activities was an outflow of Rs. 98.5 crore.
Net Cash from Financing Activities was an outflow of Rs. 25.4 crore.
Cash & Cash Equivalents at the end of the period was Rs. 0.2 crore.
Strategic Focus and Outlook
The company's strategy is centered on its vertically integrated business model.
Operational Focus includes demand improvement, high order book visibility in fabrics & garments, and increasing internal yarn consumption.
Cost Optimization measures include switching to grid power from captive thermal power, improving productivity, and optimizing travel and advertising costs.
The focus is on increasing the share of Value-Added Products to improve margins.
The company aims to be a market leader in Bi-Stretch fabrics and is evaluating opportunities in technical textiles for automotive and defense applications.
The growth outlook is supported by the 'China+1' strategy and benefits from recently announced FTAs.
The company provided FY27 guidance, which management remains confident in achieving.
Corporate Details
Company Secretary & CFO Contact: Ms. Kavita Gandhi (secretarial@banswarasyntex.com)
Investor Relations Adviser: Strategic Growth Advisors Pvt. Ltd. (CIN: U74140MH2010PTC204285)
IR Contacts: Mr. Devraj Ghatge / Mr. Rahul Agarwal (devraj.ghatge@sgapl.net / rahul.agarwal@sgapl.net, +91 9168723907 / +91 98214 38864)