NSE: BASML · BSE: 532674
BANNARI AM SPIN MILL LTD.
Operates a spinning mill that produces yarn, sitting in the textiles value chain under the 'Other Textile Products' classification. FY26 revenue was Rs 887.36 crore against total assets of Rs 984.16 crore. The business exited its garment operations during FY26, with the garment unit reclassified as a discontinued operation that produced a loss of Rs 124.54 lakhs after tax. Yarn spinning is a raw-material-heavy activity: materials account for 73.8% of revenue, employees 9.1%, other operating expenses 12.9%, depreciation 2.9% and capex 8.0%. FY26 marked a return to profitability, with standalone profit before tax of Rs 2,366.77 lakhs against a loss of Rs 270.55 lakhs in FY25, and profit after tax of Rs 1,565.20 lakhs. The Board re-appointed Mr S V Arumugam as Managing Director for three years and recommended a dividend of Rs 0.25 per equity share (5% on face value of Rs 5). AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Yarn (spinning operations). Materials-intensive, cyclical yarn spinning in the textiles sector
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,560 | 1,399 | 924 | 887 | 887 |
| EBITDA (ex other income) | 167 | 52 | 30 | 65 | 65 |
| margin % | 10.7 | 3.7 | 3.2 | 7.3 | 7.3 |
| Owners' profit | 52 | (30) | (22) | 7 | 7 |
| EPS, as reported (₹) | 11.85 | (3.49) | (1.12) | 1.11 | 1.14 |
| ROE % · ROCE % | 11.4 · 17.3 | (4.8) · 3.0 | (3.1) · 2.4 | 1.7 · 6.9 | 1.5 · 7.1 |
| Debt / equity (x) | 1.05 | 1.33 | 1.12 | 1.13 | 0.84 |
| Cash from operations | 93 | 1 | 125 | 23 | 117 |
| Capex | (38) | (45) | (17) | (26) | (71) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 233 | 213 | 226 | 217 | 228 | 204 | 870 | 217 |
| Profit before tax | 3 | 3 | 4 | 7 | 7 | 5 | 22 | 2 |
| Net profit | 1 | 1 | 2 | 5 | 6 | 2 | 14 | 14 |
| EPS (₹) | 0.18 | 0.16 | 0.28 | 0.64 | 0.69 | 0.29 | 1.76 | 1.71 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| KPR MILL LTD. | 37,325 | 40.9 | 6.55 | 27.0 | 15.2 | 19.3 | 13.5 | 21.2 |
| WELSPUN LIVING LIMITED | 20,367 | 74.1 | 4.09 | 26.1 | 4.3 | 4.0 | 5.1 | 12.7 |
| VARDHMAN TEXTILES LIMITED | 14,669 | 17.0 | 1.39 | 11.3 | 7.1 | 7.4 | 10.0 | 20.4 |
| TRIDENT LIMITED | 10,870 | 27.4 | 2.28 | 13.4 | 7.9 | 8.6 | 8.1 | 17.7 |
| INDO COUNT INDUSTRIES LTD | 8,471 | 56.1 | 3.60 | 20.4 | 5.4 | 5.4 | 10.5 | 13.3 |
| GARWARE TECH FIBRES LTD | 7,310 | 35.3 | 5.40 | 22.9 | 14.7 | 18.7 | 8.1 | 20.5 |
| FILATEX INDIA LTD | 4,207 | 22.0 | 2.80 | 11.5 | 12.2 | 13.8 | — | 7.6 |
| SANATHAN TEXTILES LIMITED | 4,178 | 68.8 | 2.23 | 18.6 | 4.1 | 3.5 | — | 8.4 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 4.4 | 16.8 | 16 of 179 | 92% |
| P/B | 0.3 | 1.1 | 10 of 185 | 94% |
| ROCE | (0.7) | 4.3 | 176 of 215 | 18% |
| ROE | 1.5 | 4.7 | 126 of 188 | 33% |
| Debt / Equity | 0.8 | 0.4 | 138 of 188 | 27% |
| EBITDA margin | 9.3 | 9.8 | 102 of 198 | 49% |
| Revenue growth | (0.4) | 6.9 | 116 of 192 | 39% |
| Profit growth | 200.5 | 20.0 | 29 of 203 | 86% |
| Market cap | 157 | 61 | 71 of 223 | 69% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Trading window closed ahead of September quarter results | compliance | minimal | — | — |
| 23 Oct 2026 · Board to review September 2026 quarter results on November 11 | results | low | — | — |
| 7 Oct 2026 · Compliance certificate for share dematerialization filed for Sep 2026 quarter | compliance | minimal | — | — |
| 24 Sept 2026 · Trading window closed from Oct 1, 2026 till Q2 results declaration | compliance | minimal | — | — |
| 11 Aug 2026 · AGM 2026 results: all 5 resolutions passed, dividend declared | board shareholder meetings | low | — | — |
| 11 Aug 2026 · Bannari Amman Spinning Mills publishes Q1 FY27 results in newspapers | compliance | minimal | — | — |
| 10 Aug 2026 · 36th AGM outcome - dividend of Rs 0.25 per share approved | board shareholder meetings | medium | — | — |
| 10 Aug 2026 · 36th AGM held; dividend of Re 0.25 per share declared, MD reappointed | board shareholder meetings | low | — | — |
| 10 Aug 2026 · Q1 FY27 - PAT jumps on deferred tax, PBT falls 66% | results | high | — | — |
| 10 Aug 2026 · Q1 FY27: Profit Soars 175% YoY, Revenue Edges Lower | results | high | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.