S. P. Apparels Limited has informed the Exchange about Transcript
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Awaiting price reaction for this filing.
S.P. Apparels reported FY25 consolidated revenue of INR 1,407 crores (up 27.5% YoY) with EBITDA of INR 200 crores (16.6% margin) and PAT of INR 95.1 crores. Standalone FY25 revenue was INR 984 crores with EBITDA margin of 16.7%. Management guided for FY26 consolidated revenue of INR 1,600-1,800 crores and FY27 revenue target of INR 2,000 crores, supported by expansion to ~9,000 sewing machines across India, Sri Lanka, and Young Brand Apparel. Standalone EBITDA margin guidance was raised to 18%, while Sri Lanka operations are expected to have lower margins (2-3% lower) but better capital efficiency. Current garment order book stands at INR 442 crores; SPUK (UK) order book is GBP 4.4 million. Consolidated net debt is INR 335 crores, with management targeting stabilization at ~INR 200 crores working capital debt for the INR 2,000 crore top line.
Positive signals from management — improved margin guidance (18% standalone EBITDA), clear multi-year revenue targets (INR 2,000 crores by FY27), and visible capacity-led growth path could support investor confidence. Watchpoints include execution risk in Sri Lanka, retail segment losses, and US tariff uncertainty, though near-term impact is said to be minimal.