Date: 30th May, 2026

Q4 & FY26 Performance Highlights

Consolidated Financial Results (Q4 FY26)

  • Total Income: ₹1,088 Cr, up 5.8% YoY (Q4 FY25: ₹1,029 Cr) and up 1.3% QoQ (Q3 FY26: ₹1,074 Cr)
  • EBITDA: ₹116 Cr, up 21.5% YoY (Q4 FY25: ₹96 Cr) and up 13.6% QoQ (Q3 FY26: ₹102 Cr)
  • EBITDA Margin: 10.7% (Q4 FY25: 9.3%; Q3 FY26: 9.5%)
  • Depreciation: ₹43 Cr (Q4 FY25: ₹34 Cr; Q3 FY26: ₹39 Cr)
  • Finance Cost: ₹44 Cr (Q4 FY25: ₹36 Cr; Q3 FY26: ₹30 Cr)
  • PBT: ₹30 Cr, up 18.1% YoY (Q4 FY25: ₹26 Cr) but down 10.0% QoQ (Q3 FY26: ₹33 Cr)
  • Tax: ₹6 Cr (Q4 FY25: ₹4 Cr; Q3 FY26: ₹9 Cr)
  • PAT: ₹24 Cr, up 15.0% YoY (Q4 FY25: ₹21 Cr) and largely flat QoQ (Q3 FY26: ₹24 Cr)
  • EPS: ₹1.22 (Q4 FY25: ₹1.06; Q3 FY26: ₹1.23)

Consolidated Financial Results (FY26 Full Year)

  • Total Income: ₹4,211 Cr, up 0.5% YoY (FY25: ₹4,191 Cr)
  • EBITDA: ₹461 Cr, down 20.0% YoY (FY25: ₹577 Cr)
  • EBITDA Margin: 11.0% (FY25: 13.8%)
  • PAT: ₹127 Cr, down 49.3% YoY (FY25: ₹250 Cr)
  • EPS: ₹6.40 (FY25: ₹12.62)

Balance Sheet Highlights (as of Mar'26)

  • Total Assets: ₹4,492 Cr (Mar'25: ₹4,255 Cr)
  • Property, Plant & Equipment: ₹1,500 Cr (Mar'25: ₹1,380 Cr)
  • Inventories: ₹1,251 Cr (Mar'25: ₹1,158 Cr)
  • Trade Receivables: ₹513 Cr (Mar'25: ₹592 Cr)
  • Cash and Cash Equivalents: ₹114 Cr (Mar'25: ₹106 Cr)
  • Total Equity: ₹2,355 Cr (Mar'25: ₹2,282 Cr)
  • Total Borrowings: ₹1,074 Cr (Mar'25: ₹1,217 Cr) - comprising ₹340 Cr non-current and ₹734 Cr current
  • Net Debt reduced during the year.

Cash Flow Statement (FY26)

  • Cash generated from operations: ₹620 Cr (FY25: ₹495 Cr)
  • Net Cash from Operating Activities: ₹573 Cr (FY25: ₹394 Cr)
  • Net Cash from Investing Activities: -₹217 Cr (FY25: -₹485 Cr)
  • Net Cash from Financing Activities: -₹349 Cr (FY25: ₹105 Cr)
  • Net Change in cash: ₹7 Cr (FY25: ₹14 Cr)

Business Update & Strategic Initiatives

Core vs. New Business Mix

  • Core Business (Bed Linen) contribution: 93% of revenue in FY26 (FY24: 98%; FY25: 98%)
  • New Businesses (Utility Bedding + USA Brand Business) contribution: 7% of revenue in FY26 (FY24: 2%; FY25: 2%)
  • New Businesses scaled from USD 33 million in FY25 to USD 90 million in FY26.

US Manufacturing Expansion

  • Commenced commercial production at greenfield manufacturing facility in Kernersville, North Carolina in January 2026.
  • The facility has an annual capacity of 31 Mn pillows and 1.5 Mn quilts.
  • This is the company's third US manufacturing facility for utility bedding, joining existing facilities in Groveport, Ohio and Phoenix, Arizona.
  • The two existing facilities are operating at ~65% utilization; the new facility is ramping up.

Brand Portfolio Expansion

  • Relaunched the Wamsutta brand in the USA market in July 2025 with a digital-first D2C strategy.
  • Signed a licensing agreement for the Tommy Hilfiger brand for utility bedding products.
  • Total licensed brand portfolio now stands at 6 brands.

FY27 Outlook & Guidance

  • Targeting ~30%+ revenue growth in FY27 to reach ~₹5,500 Cr.
  • Targeting EBITDA margin of ~13%.
  • Goal for New Businesses (Utility Bedding + USA Brands) to reach an aggregate revenue of ~USD 175 Mn by 2028.
  • USA Brand Business has a separate revenue target of USD 100 Mn by 2028.

Capex Plan (FY27e)

  • Total Budgeted Capex: ₹250 Cr
  • Breakdown:
  • Effluent Treatment Plant (ETP) at Bhilad Unit: ₹95 Cr
  • Maintenance and Other Capex: ₹70 Cr
  • Spinning (Brownfield capacity expansion of 24,000 spindles + Modernization): ₹85 Cr

Awards & Recognition

  • Awarded Gold Trophy by Texprocil for Highest Exports of Bed Sheets/Bed Linen in Cotton Made-ups for 2023-2024.
  • S&P Global ESG Score improved to 78/100 in 2025 (Global industry average: 35).
  • Numerous other awards received in FY25-FY26 for sustainability, exports, and entrepreneurship.

ESG & Sustainability Initiatives

  • Committed to reducing Scope 1 & 2 GHG emissions by 33% by 2030.
  • Targeting reduction of freshwater consumption from 50% to 25% by 2030 and installation of ZLD by 2030.
  • Building sourcing capacity for 100% Preferred Fibre by 2030.
  • CSR initiatives focused on healthcare, education, water sanitation, and environmental projects, impacting over 120 villages.

Management Commentary

Executive Chairman Mr. Anil Kumar Jain cited India's strengthening position in global textiles and ongoing FTA negotiations as favorable long-term trends. Executive Vice Chairman Mr. Mohit Jain emphasized the company's transformation into a value-added home solutions player and a focus on improving operating leverage and reducing debt going forward.