Key Quantitative Figures - Q1 FY27 Financial Performance
Profit & Loss Statement (₹ crore):
- Total Income: ₹169.84
- Raw Material Cost: ₹106.82
- Changes in Inventories: (₹12.37)
- Employee Cost: ₹25.31
- Power, Fuel & Water Cost: ₹13.96
- Other Expenses: ₹21.72
- EBITDA: ₹14.41 (8.49% margin)
- Finance Cost: ₹7.65
- Depreciation & Amortization: ₹4.58
- Profit Before Tax (PBT): ₹2.19
- Tax: ₹0.46
- Profit After Tax (PAT): ₹1.72 (1.01% margin)
YoY Comparison (Q1 FY27 vs Q1 FY26):
- Revenue growth: 7.4% YoY (from ₹148.07 crore to ₹169.84 crore)
- EBITDA growth: 14.2% YoY (from ₹10.34 crore to ₹14.41 crore)
- EBITDA margin improvement: 150 basis points (from 6.98% to 8.49%)
- PAT growth: 3.7x YoY (from ₹0.47 crore to ₹1.72 crore)
- PAT margin improvement: 72 basis points (from 0.29% to 1.01%)
QoQ Comparison (Q1 FY27 vs Q4 FY26):
- Revenue growth: 7.2% QoQ (from ₹158.39 crore to ₹169.84 crore)
- EBITDA growth: 39.4% QoQ (from ₹10.34 crore to ₹14.41 crore)
Company Profile and Operational Highlights
BSL Limited is a vertically integrated textile manufacturer established in 1971 and headquartered in Bhilwara, Rajasthan. The company has:
- Diversified product portfolio including synthetic, worsted & cotton yarn, vortex yarn, suitings & fabrics, furnishing fabrics, and fabric processing & dyeing
- Manufacturing facilities spread across ~45-acre campus in Bhilwara, Rajasthan
- Team of 2,500+ skilled professionals
- Export presence across 60+ countries
- Supplier to global retail giant IKEA and leading international customers
- Recipient of 30+ awards for production and export excellence
Production Capacity:
- Fabrics: 177 Looms
- Worsted Yarn: 10,124 Spindles
- Synthetic Yarn: 20,544 Spindles
- Vortex Yarn: 400 Positions
- Fabric Processing: 336 Lac Meters annually
- Top, Fiber & Yarn Dyeing: 2,352 MT
- Cotton Yarn: 29,184 Spindles
- ~20 Mn meters annual fabric manufacturing capacity
Sustainability Initiatives:
- Zero Liquid Discharge certified operations since 2015
- ZDHC and Vegan certified manufacturing facilities
- 60%+ recycled fiber consumption
- 14%+ energy sourced from renewables
- 9.1 MW solar power installed (~18% of total power consumption)
- FY26 fiber consumption: 60% recycled fibers, 0.17% recycled cotton
Growth Drivers and Outlook
Export Opportunities & Global Market Diversification:
- India-UK FTA expected to improve market access and reduce tariff barriers
- India-EU FTA expected to enhance export competitiveness upon entry into force
- "China Plus One" strategy benefiting Indian textile manufacturers
- Presence across 60+ countries provides platform for export-led growth
Industry & Government Tailwinds:
- Indian textile sector supported by PLI and modernization schemes
- Rising global preference for sustainable and ESG-compliant textile sourcing
Margin Improvement & Operational Efficiency:
- Focus on cost optimization and operational discipline
- Product mix optimization toward higher-margin categories
- Enhanced inventory management and working capital efficiency
Management Commentary:
The Managing Director noted meaningful improvement in operating performance supported by stronger business activity and focused execution. Export demand, particularly from Africa, has improved. The company remains optimistic about sustaining business momentum and improving profitability and margins in the coming quarters, supported by evolving trade policies including the India-New Zealand FTA (signed April 2026) and India-Oman CEPA.
Corporate Governance
- Robust internal control mechanisms aligned with scale and complexity of operations
- Quarterly audit committee review of internal audit findings
- Whistle Blower Policy framework to address fraud and mismanagement concerns
- Governance philosophy focused on transparency, accountability, and stakeholder trust
Management Team
- Shri Nivedan Churiwal, Managing Director: 49+ years experience
- Shri Praveen Jain, Director (Operations) & CFO: 29+ years experience