Company Overview

Singer India Limited (SIL) is a publicly listed company with its equity shares traded on BSE since 1982 and NSE. Market capitalization stood at INR 4.80 billion as of 30th September 2026. The company has been operating for 175 years with two major business segments: Sewing Products (under brand names Singer & Merritt) and Home Appliances (under brand name Singer).

Board Structure (as on 30th September 2026)

Executive Director: Rakesh Khanna (Vice Chairman & Managing Director)

Non-Executive Non-Independent Directors: Kalliopi Tsiaga, Hetal Madhukant Gandhi, Maneesh Mansingka, Gavin John Walker

Non-Executive Independent Directors: Sunil Duggal, Rajesh Relan, Hemant Sachdev

Operational Infrastructure

The company maintains 493 service points pan-India across both categories, including 184 Home Appliances service providers and 309 sewing service providers (including 80 sewing machine walk-in centers).

Q2 & H1 2026-27 Performance Overview

Financial Performance (Values in Rs. Crores)

| Metric | Q2 FY27 | Q2 FY26 | H1 FY27 | H1 FY26 | Growth (Q2) | Growth (H1) |

| Revenue from operations | 185.2 | 137.9 | 329.8 | 230.0 | 34.3% | 43.4% |

| Gross Margin | 49.4 | 38.1 | 89.2 | 64.3 | 29.7% | 38.8% |

| EBITDA | 10.9 | 5.9 | 16.4 | 3.5 | 85.4% | 371.1% |

| PBT | 9.4 | 5.2 | 13.4 | 2.0 | 79.3% | 576.8% |

| PAT | 6.9 | 3.8 | 9.9 | 1.5 | 81.2% | 576.2% |

Segment Performance

Sewing Machine Segment:

  • Grew by 34.3% in Q2 and 48.5% in H1 year-over-year
  • Trade channel grew by approximately 30% in both Q2 and H1
  • E-commerce channel grew by approximately 15% in Q2 and 25% in H1
  • AZZ sewing machines grew by approximately 25% in both Q2 and H1
  • Cast iron sewing machine category grew by >35% in Q2 and >60% in H1
  • High-speed industrial sewing machines grew by approximately 25% in Q2 and 10% in H1

Appliance Segment:

  • Reported business growth of 34.4% during Q2 and 23.7% in H1
  • Growth driven by trade and e-commerce channels, portfolio expansion, and fan category
  • New fan line-up and distribution expansion resulted in >240% growth in Q2 and >100% growth in H1
  • E-commerce grew by approximately 200% in Q2 and >100% in H1

Margin Performance

  • Despite commodity price inflation, sustained gross margins through strategic price positioning and product cost optimization
  • Improved appliance segment gross margin value by >55% in Q2 and >30% in H1
  • Improved sewing machine segment gross margin value by >25% in Q2 and >40% in H1
  • SG&A expenses increased by Rs. 5.5 Cr in Q2, but as percentage of revenue declined from 25% to 21% in Q2 and from 28% to 23% in H1 YoY

Strategic Growth Initiatives

  • Expansion of e-commerce channel with new product launches
  • Portfolio expansion in highest-selling sewing machine ranges
  • Introduction of new portfolio in high growth potential appliance categories
  • Organized exclusive dealer trips to Singapore, Sri Lanka, and Jaipur for elite sewing machine partners
  • Showcased new range of 10 Made-in-India Zig-Zag machine SKUs manufactured as per new BIS standards
  • Singer remains India's sole active BIS-licensed manufacturer of Zig-Zag sewing machines

Brand Building & CSR Initiatives

  • Partnered with Hindustan to host "Hindustan Anokhi Club" events across various cities to promote women's empowerment and self-reliance
  • Partners with central & state governments, corporates, and NGOs to support women's upliftment, skill development, and employment through sewing skills training
  • Provides access to machines through various CSR-driven schemes to create sustainable livelihood opportunities

Awards & Recognition

Rakesh Khanna, Vice Chairman and Managing Director, was honored with the Mahatma Award 2026 for Lifetime Achievement in Responsible Business and Social Impact, recognizing Singer's leadership in advancing women's empowerment, entrepreneurship, and skill development.

Balance Sheet Position (as on 30th September 2026)

Assets (Rs. Crores):

  • Cash & cash equivalents: 29
  • Trade receivables (net): 59
  • Inventory: 144 (short-term strategic inventory built-up for manufacturing transition and business expansion)
  • Other current assets: 34
  • Non-current assets: 37

Liabilities & Equity (Rs. Crores):

  • Total trade payables: 75
  • Other current liabilities: 38
  • Non-current liabilities: 4
  • Shareholders' equity: 186
  • Total interest-bearing borrowings: None (debt-free)

Key Financial Ratios (as on 30th September 2026, annualized)

  • Current Ratio: 2.37 times
  • Inventory Turnover Ratio: 3.87 times
  • Trade Receivable Turnover Ratio: 13.42 times
  • Trade Payable Turnover Ratio: 8.04 times
  • Net Capital Turnover Ratio: 4.28 times
  • Net Profit Ratio: 3.01%
  • Return on Capital Employed: 14.35%
  • Debt to equity ratio: 0 times

Historical Financial Performance (Last 5 Years Trend)

| FY | Revenue (Rs. Cr) | Gross Margin (Rs. Cr) | EBITDA (Rs. Cr) | PAT (after exceptional) (Rs. Cr) |

| 2026 | 557.3 | 149.5 | 21.5 | 12.8 |

| 2025 | 431.7 | 122.9 | 12.6 | 7.4 |

| 2024 | 425.4 | 106.5 | 9.1 | 4.5 |

| 2023 | 460.3 | 102.0 | 6.3 | 8.3 |

| 2022 | 453.0 | 101.2 | 12.7 | 7.7 |

Exceptional Items

  • FY2026: Exceptional expense of Rs. 0.73 crore before tax (net of tax Rs. 0.54 crore) relating to impact of labour code changes
  • FY2023: Exceptional income of Rs. 7.24 crore before tax (net of tax Rs. 5.33 crore) on sale of surplus idle land at Jammu facility

ESOP Scheme

The company introduced an Employee Stock Option Scheme in FY2024 in accordance with Ind AS 102. ESOP expense of Rs. 2.37 crore (previous year: Rs. 4.20 crore) has been recognized, with after-tax impact on ESOP of Rs. 1.74 crore (previous year: Rs. 3.09 crore).