Sportking India Limited has informed the Exchange about Approval of Greenfield Expansion Project
SPORTKING · price
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Awaiting price reaction for this filing.
Sportking India reported Q1 FY26 revenue of Rs. 585.8 crore, down about 7.6% from Rs. 634.0 crore in Q1 FY25, but profit after tax rose roughly 10% to Rs. 35.2 crore from Rs. 31.8 crore, with EPS at Rs. 2.77 versus Rs. 2.50. The board approved a major Greenfield expansion in Odisha to add 1.5 lakh spindles (around 40% capacity increase from the current 3.79 lakh spindles running at over 95% utilization), involving an estimated Rs. 1,000 crore investment to be funded through a mix of term loans and internal accruals over 12-15 months. The company also announced the re-appointment of Managing Director Munish Avasthi, appointment of a new Whole-time Director, a new Independent Director, and a new Secretarial Auditor for FY26-FY30. The 36th AGM is set for August 30, 2025, with August 23 fixed as the record date for dividend eligibility.
The Rs. 1,000 crore capex is sizeable relative to the company's scale and will lift spinning capacity by nearly 40%, supporting future growth but also adding debt and depreciation on the books over the next 12-15 months. For shareholders, the good news is margin improvement despite weaker revenue, but the stock may react to the mix of revenue softness and the heavy funding requirement for expansion.