Date: 15-11-2026

Financial Performance Highlights (Standalone)

Quarterly Performance (Q2 FY27 vs Q2 FY26)

  • Revenue from Operations: ₹2,195.2 million (up 72.3% YoY from ₹1,273.8 million)
  • EBITDA: ₹412.0 million (up 47.0% YoY from ₹280.3 million)
  • Net Profit: ₹172.9 million (up 94.5% YoY from ₹88.9 million)
  • Earnings Per Share (EPS): ₹6.55 (up 62.1% YoY from ₹4.04)

Half-Yearly Performance (H1 FY27 vs H1 FY26)

  • Revenue from Operations: ₹4,028.9 million (up 97.3% YoY from ₹2,041.7 million)
  • EBITDA: ₹767.2 million (up 46.8% YoY from ₹522.6 million)
  • Net Profit: ₹335.1 million (up 96.9% YoY from ₹170.2 million)
  • Earnings Per Share (EPS): ₹12.69 (up 64.2% YoY from ₹7.73)
  • Operating Cash Flow: ₹405.9 million generated during H1 FY27

Margin Commentary

EBITDA margins for Q2 and H1 FY27 are within the Company's guided range of 18-20%. The company notes that Q2 and H1 FY26 benefited from inventory gains, resulting in optically higher EBITDA margins that are not directly comparable with the current period. The current margins reflect performance in line with a normalised business scenario at current capacities and product mix.

Business Updates and Strategic Initiatives

Capacity Expansion Projects

  • Spinning Division Expansion & Advanced Material Division Pilot Project: Ongoing capital expenditure is progressing as planned with commercial production targeted to commence by Q1 FY28
  • Finished Fabric Manufacturing Capacity: Plans to increase capacity by approximately 30 million meters across Denim and Non-Denim segments. Additional capacity expected to commence operations by Q4 FY28, taking total finished fabric manufacturing capacity to approximately 73 million meters per annum

Renewable Energy Initiatives

  • Plans to develop captive electricity generation facilities for in-house consumption with strategic focus on green energy (solar and wind energy)
  • Evaluating potential sites with aim to meet up to 50% of electricity requirements through in-house renewable energy projects by end of FY28

Management Commentary

Mr. Nasir Khan, Director, commented on the performance: "We are pleased to report a strong performance in Q2 and H1 FY27, with revenue growth of 72.3% and 97.3%, respectively, alongside nearly doubling of net profit. This reflects healthy business momentum and our continued focus on operational capabilities. Our EBITDA margins remain within the guided range of 18-20%, reflecting normalised business performance at current capacities and product mix. We continue to focus on strategic capacity expansion, with the spinning division and advanced material pilot project on track to commence commercial production by Q1 FY28. Additionally, the planned 30 Mn Mtrs expansion in Denim and Non-Denim fabric capacity will take our total fabric capacity to approximately 73 Mn Mtrs annually by Q4 FY28. We are also evaluating captive solar and wind energy projects to meet up to 50% of our electricity requirements, enhancing energy efficiency and cost competitiveness. We remain focused on disciplined financial management, sustainable growth and operational excellence."

Company Background

Swaraj Suiting Limited is an integrated textile manufacturing company engaged in development and production of high-quality denim fabrics, cotton finished fabrics, and cotton yarn. The company operates across significant parts of the textile value chain including Spinning, Warping, Yarn Dyeing, Weaving, Fabric Processing, and Finishing.