Date: 12/08/2026

Financial Results (Standalone & Consolidated)

Q1 FY27 Performance (Rs. Crores):

  • Revenue from Operations: ₹204.5 (Q1 FY26: ₹260.2; -21.4% YoY) (Q4 FY26: ₹294.8; -30.6% QoQ)
  • Gross Profit: ₹52.0 (Q1 FY26: ₹56.0; -7.1% YoY)
  • Gross Profit Margin: 25.4% (Q1 FY26: 21.5%)
  • EBITDA: ₹17.3 (Q1 FY26: ₹15.3; +12.6% YoY)
  • EBITDA Margin: 8.4% (Q1 FY26: 5.9%)
  • PAT: ₹6.9 (Q1 FY26: ₹6.1; +12.9% YoY)
  • PAT Margin: 3.4% (Q1 FY26: 2.3%)
  • Diluted EPS: ₹0.1

Note: Lower volumes and utilization were primarily due to a plant shutdown for 46 days undertaken for debottlenecking, which increased polymerization capacity from 350 TPD to 400 TPD.

Historical Financial Highlights (Rs. Crores):

| Financial Metric | FY26 | FY25 | FY24 | FY23 |

| Revenue | 1179.7| 845.4| 745.1| 137.3|

| EBITDA | 63.7 | 29.5 | 27.3 | 1.8 |

| EBITDA Margin | 5.4% | 3.5% | 3.7% | 1.3% |

| PAT | 34.0 | 13.8 | 4.0 | -12.4|

Balance Sheet (as of Mar-26, Rs. Crores):

  • Total Assets: ₹598.3
  • Property, plant and equipment: ₹342.4
  • Inventories: ₹118.1
  • Cash and cash equivalents: ₹12.4
  • Total Equity: ₹156.5 (Equity Share capital: ₹55.6)
  • Total Borrowings: ₹222.5 (Non-current: ₹150.8; Current: ₹71.7)
  • Trade payables: ₹208.9

Board Meeting Outcomes

The presentation outlines the company's growth strategy and capital allocation plans:

  • Board has approved a capital outlay of up to ₹650 crore towards Phase II expansion.
  • Expansion to be funded through various means of financing.

Growth Strategy / Expansion / Capex

Phase II Expansion (₹650 Cr):

  • Location: Existing integrated facility Silvassa (Brownfield)
  • Incremental Capacity Addition: 300 TPD Polyester yarn + 50 TPD Recycled Polyester yarn
  • Post-expansion Total Capacity: ~700++ TPD (Polyester yarn/Recycled Polyester yarn/Fabrics)
  • Fabric production commencement: Q3FY27 (10 TPD initially)
  • Peak Revenue Potential: ₹2700-3000 Cr Per Annum at Peak Utilisation
  • Strategic focus: ~80% of revenue from Value-added, Specialty & Sustainable Products at peak utilisation

Margin Improvement Levers Identified:

1. Fixed Operating leverage: Fixed costs spread over ~75% more production volume

2. Product mix shift towards Value-added DTY yarns and Fabrics

3. 100% recycled packing materials savings

4. Logistics optimization and growing production volumes

5. Energy efficiency via vapour absorption chillers and air pre-heaters

6. Biomass fuel conversion plans to reduce per-unit fuel cost

Management Commentary

Mr. Sandiip Satyanarayan Agarwwal, Whole-Time Director & CFO:

"Q1 FY27 was a volatile quarter due to supply chain related disruption in the crude value chain. This volatility impacted our sales performance. We utilized this disruption to implement a long-pending debottlenecking exercise to enhance our polymerization capacity from 350 TPD to 400 TPD and thereby the mix of Value-added products. Despite lower volumes, the pricing benefit led to EBITDA margin improvement to 8.4% in Q1 FY27, from 5.5% in the previous quarter. We expect full utilization for the remainder of FY27 on the back of our enhanced 400 TPD capacity. Looking ahead, our growth is anchored in a structural shift towards a higher-margin, value-added product mix."

Company Overview

Business Model:

  • Products: Polyester Chips, Partially Oriented Yarn (POY), Drawn Textured Yarn (DTY), Fully Drawn Yarn (FDY)
  • Manufacturing Capacity: 400 TPD (after debottlenecking)
  • Location: 25 acres manufacturing plant in Silvassa
  • Raw Materials: PTA and MEG (~81% of RM cost), both linked to crude oil
  • Supply Advantage: 100% local sourcing from domestic PTA suppliers

SVG Group Integration:

  • SVG Group acquired RRIL through NCLT process in 2021
  • Total SVG Capital Infused: ₹124.9 Cr (Unsecured Loan: ₹45.0 Cr, CCPS: ₹25.0 Cr, Equity: ₹54.9 Cr)
  • Legacy Creditor Settlement: ₹80 Cr paid to settle all legacy creditors via NCLT resolution
  • Tax Benefits: ₹450 Cr of unabsorbed tax losses carried forward
  • Bank Debt: Term Loans - ₹268.5 Cr (BoB: ₹185 Cr, HDFC: ₹83.5 Cr); Working Capital Facilities: ₹270 Cr

Board of Directors:

  • Mr. Rajkumar Satyanarayan Agarwal - Chairman (41+ years experience)
  • Mr. Sandiip Satyanarayan Agarwwal - Whole-Time Director & CFO (31+ years experience)
  • Ms. Sapna Rajkumar Agarwal - Non-Executive, Independent Director
  • Ms. Supriya Mahesh Pujari - Non-Executive, Independent Director
  • Mr. Vinodkumar Bajranglal Dalmia - Non-Executive, Independent Director
  • Mr. Kailashnath Jeevan Koppikar - Non-Executive, Independent Director