NSE: SANATHAN · BSE: 544314
SANATHAN TEXTILES LIMITED
Manufactures polyester and technical textile yarns from two production hubs: Silvassa and Punjab. Silvassa produced 2.31 lakh MT and sold 2.28 lakh MT in FY26, making technical textile yarn and polyester filament yarn, with technical textile yarn capacity being doubled from 9,000 MTPA to 18,000 MTPA to serve automotive, agriculture, defence, infrastructure, healthcare and industrial safety users. The Punjab facility was commissioned and ramped up during FY26 (target 950 TPD), with a Phase 2 expansion targeted by FY27 end. A 72,000-spindle cotton yarn facility is planned in Madhya Pradesh under the PM MITRA scheme, expected to begin contributing from H2 FY28. Materials account for 71.7% of revenue, with crude-linked inputs such as PTA flagged as a key cost driver. Gross debt at FY26 exit was INR 1,325 crore, with an annual paydown of INR 100-125 crore committed. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Silvassa operations, Punjab operations, Cotton yarn (MP facility, planned). Asset-heavy textile manufacturer in active capacity expansion phase
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 2,999 | 3,811 |
| EBITDA (ex other income) | 263 | 284 |
| margin % | 8.8 | 7.5 |
| Owners' profit | 160 | 77 |
| EPS, as reported (₹) | 21.30 | 9.16 |
| ROE % · ROCE % | 8.9 · 8.2 | 4.1 · 6.4 |
| Debt / equity (x) | 0.60 | 0.79 |
| Cash from operations | 284 | 322 |
| Capex | (1,429) | (614) |
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 | 742 | 743 | 732 | 745 | 818 | 1,079 | 1,169 | 1,335 |
| Profit before tax | 45 | 47 | 57 | 55 | 33 | (5) | 31 | 38 |
| Net profit | 33 | 34 | 44 | 40 | 20 | (5) | 22 | 24 |
| EPS (₹) | 4.53 | 4.67 | 5.17 | 4.79 | 2.38 | (0.57) | 2.56 | 2.82 |
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. | 35,410 | 38.8 | 6.21 | 25.6 | 15.2 | 19.3 | 13.5 | 21.2 |
| WELSPUN LIVING LIMITED | 20,311 | 73.9 | 4.08 | 26.1 | 4.3 | 4.0 | 5.1 | 12.7 |
| VARDHMAN TEXTILES LIMITED | 14,333 | 16.6 | 1.35 | 11.0 | 7.1 | 7.4 | 10.0 | 20.4 |
| TRIDENT LIMITED | 11,018 | 27.7 | 2.31 | 13.5 | 7.9 | 8.6 | 8.1 | 17.7 |
| INDO COUNT INDUSTRIES LTD | 8,338 | 55.3 | 3.54 | 20.1 | 5.4 | 5.4 | 10.5 | 13.3 |
| GARWARE TECH FIBRES LTD | 7,621 | 36.8 | 5.63 | 23.8 | 14.7 | 18.7 | 8.1 | 20.5 |
| FILATEX INDIA LTD | 4,197 | 22.0 | 2.79 | 11.5 | 12.2 | 13.8 | — | 7.6 |
| SANATHAN TEXTILES LIMITED ◆ | 4,161 | 68.6 | 2.22 | 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) | 68.6 | 16.5 | 158 of 179 | 12% |
| P/B | 2.2 | 1.1 | 137 of 185 | 26% |
| ROCE | 3.5 | 4.3 | 115 of 215 | 47% |
| ROE | 4.1 | 4.7 | 99 of 188 | 48% |
| Debt / Equity | 0.8 | 0.4 | 134 of 188 | 29% |
| EBITDA margin | 8.4 | 9.8 | 117 of 198 | 41% |
| Revenue growth | 79.1 | 6.9 | 26 of 192 | 87% |
| Profit growth | (41.1) | 20.0 | 150 of 203 | 26% |
| Market cap | 4161 | 59 | 8 of 223 | 97% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 22 Oct 2026 · Earnings call scheduled for Q2 and H1 FY27 on November 5, 2026 | board shareholder meetings | low | — | — |
| 22 Oct 2026 · Sanathan Textiles sets November 4 meeting for quarterly results | results | low | — | — |
| 21 Oct 2026 · Sanathan Textiles seeks shareholder approval via postal ballot for director re-appointments | compliance | minimal | — | — |
| 19 Oct 2026 · Postal ballot for re-appointment of 3 Independent Directors | management changes | medium | — | — |
| 15 Oct 2026 · Postal Ballot Notice for Re-appointment of 3 Independent Directors | management changes | medium | — | — |
| 15 Oct 2026 · Re-appointment of three Independent Directors for second term of five years | management changes | medium | — | — |
| 7 Oct 2026 · RTA certificate under SEBI Regulation 74(5) for Q2 FY27 | compliance | minimal | — | — |
| 28 Sept 2026 · Trading window closed from Oct 1, 2026 till Q2 results are published | compliance | minimal | — | — |
| 11 Sept 2026 · AGM 2026 results: all 5 resolutions passed with over 99.99% approval | board shareholder meetings | low | — | — |
| 11 Sept 2026 · 21st AGM held; all resolutions passed; strong FY26 performance highlighted | board shareholder meetings | low | — | — |
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.