S. P. Apparels Limited has informed the Exchange about Investor Presentation
SPAL · price
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S. P. Apparels (SPAL) filed its Q3 & 9M FY26 investor presentation. On a consolidated basis, 9MFY26 revenue grew 21.9% YoY to Rs. 1,213.7 crore, EBITDA rose 29.7% to Rs. 173.2 crore (margin expanded to 14.3% from 13.4%), and PAT jumped 27.3% to Rs. 82.4 crore. Q3FY26 saw revenue up 6.6% YoY, EBITDA up 11.2%, and PAT up 9.1%, with EBITDA margin improving to 14.8%. The UK subsidiary (SPUK) turned positive with Rs. 1.87 crore EBITDA in 9MFY26 versus a loss last year. Capacity utilization fell to 71% in Q3FY26 from 85% due to new machine additions and US tariff impact. The company outlined expansion plans targeting ~1,000 additional machines in India, capacity ramp-up in Sri Lanka to 2,000 machines by FY27E, and Young Brand Apparel scaling to 1,700 machines, with management guiding EBITDA margin sustainability at 17-20%.
Strong 9M growth and margin expansion signal healthy demand, but softer Q3 numbers and capacity utilization dip from US tariff headwinds warrant caution near-term. The multi-pronged expansion plan (India, Sri Lanka, retail) and stated capital market fundraising plans are positive for long-term growth, while management's 17-20% margin guidance suggests confidence in scaling profitability.