Manufactures textiles spanning the value chain from yarn to finished garments. Operations cover cotton and polyester yarn, denim fabric, polyester-viscose (PV) fabrics, and readymade garments sold under its own C9 brand as well as for external customers. In FY26, revenue was INR 3,234.53 crore with an EBITDA margin of about 10%. The business is run as an integrated textiles complex — it spins yarn, weaves denim and PV fabrics, and stitches garments — with the garment segment running at roughly 50% capacity utilization and C9 contributing 40-45% of garment revenue. The denim and PV fabric units are at near-full utilization (97-98% in Q1 FY27). Roughly half of polyester fibre needs are met in-house from recycled polyester, processing about 40,000 MT of plastic waste a year. Exports go to over 50 countries, with no single geography dominating. The biggest cost line is raw materials at 54.5% of revenue, followed by other operating expenses at 21.0% and employee costs at 9.1%. A INR 1,500 crore capex plan runs to March 2029 to add yarn, denim, garment and recycled polyester capacity, with management targeting around INR 300 crore of annual EBITDA at full use. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Denim and PV fabrics, Yarn (cotton and polyester), Garments, Recycled polyester fibre. Integrated, asset-heavy textiles manufacturer spanning yarn, fabric and garments with high operating leverage.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2,438 | 2,712 | 2,628 | 2,857 | 3,235 |
| EBITDA (ex other income) | 295 | 276 | 209 | 238 | 314 |
| margin % | 12.1 | 10.2 | 7.9 | 8.3 | 9.7 |
| Owners' profit | 141 | 131 | 0 | 32 | 83 |
| EPS, as reported (₹) | 32.23 | 29.41 | 9.55 | 6.33 | 16.44 |
| ROE % · ROCE % | 19.6 · 24.8 | 14.8 · 16.8 | 4.1 · 7.5 | 3.2 · 7.7 | 7.7 · 12.1 |
| Debt / equity (x) | 1.06 | 0.93 | 1.08 | 1.13 | 1.19 |
| Cash from operations | 91 | 216 | 160 | 431 | 269 |
| Capex | (204) | (389) | (408) | (315) | (226) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 676 | 754 | 734 | 790 | 786 | 775 | 884 | 860 |
| Profit before tax | 3 | 9 | 13 | 3 | 34 | 31 | 45 | 55 |
| Net profit | 6 | 2 | 10 | 2 | 23 | 24 | 33 | 41 |
| EPS (₹) | 1.43 | 0.49 | 1.89 | 0.42 | 4.60 | 4.87 | 6.54 | 8.16 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| KPR MILL LTD. | 37,974 | 41.6 | 6.66 | 27.5 | 15.2 | 19.3 | 13.5 | 21.2 |
| WELSPUN LIVING LIMITED | 19,663 | 71.5 | 3.95 | 25.3 | 4.3 | 4.0 | 5.1 | 12.7 |
| VARDHMAN TEXTILES LIMITED | 16,368 | 19.0 | 1.55 | 12.4 | 7.1 | 7.4 | 10.0 | 20.4 |
| TRIDENT LIMITED | 11,965 | 30.1 | 2.51 | 14.5 | 7.9 | 8.6 | 8.1 | 17.7 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Sangam India allots 18 lakh warrants to promoters at Rs 555.56 each | fund raising | high | — | — |
| 10 Sept 2026 · Sangam India sends KYC update reminder to physical shareholders | compliance | minimal | — | — |
| 31 Aug 2026 · Management meeting and analyst site visit scheduled on Sept 4, 2026 | board shareholder meetings | low | — | — |
| 18 Aug 2026 · Sangam India corrects Mrs. Krippie Soni category from Promoter to Promoter Group | general | low | — | — |
| 13 Aug 2026 · Sangam India EGM approves preferential warrants to promoters | compliance | minimal | — | — |
| 12 Aug 2026 · Sangam India EGM held on Aug 12, 2026; 18 lakh warrants issue to promoters considered | board shareholder meetings | low | — | — |
| 8 Aug 2026 · Newspaper notice filed for transfer of unclaimed shares to IEPF | compliance | minimal | — | — |
| 8 Aug 2026 · Newspaper publication of Second Corrigendum to EGM Notice | compliance | minimal | — | — |
| 7 Aug 2026 · Second Corrigendum to EGM Notice for Preferential Issue of Warrants | board shareholder meetings | low | — | — |
| 1 Aug 2026 · Sangam India files corrigendum to EGM notice in newspapers | compliance | minimal | — | — |
| 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 |
| INDO COUNT INDUSTRIES LTD |
| 8,757 |
| 58.0 |
| 3.72 |
| 21.1 |
| 5.4 |
| 5.4 |
| 10.5 |
| 13.3 |
| GARWARE TECH FIBRES LTD | 7,675 | 37.1 | 5.67 | 24.0 | 14.7 | 18.7 | 8.1 | 20.5 |
| JINDAL WORLDWIDE LTD | 5,314 | 63.1 | 6.17 | 40.6 | 8.1 | 9.0 | 6.1 | 8.7 |
| RAYMOND LIFESTYLE LIMITED | 4,213 | 97.2 | 0.44 | 7.7 | 0.5 | 0.7 | — | 8.9 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 23.6 | 14.8 | 132 of 205 | 36% |
| P/B | 2.7 | 1.3 | 145 of 183 | 20% |
| ROCE | 6.0 | 4.2 | 95 of 227 | 58% |
| ROE | 7.7 | 4.8 | 78 of 214 | 64% |
| Debt / Equity | 1.2 | 0.3 | 179 of 214 | 16% |
| EBITDA margin | 12.9 | 9.8 | 72 of 198 | 64% |
| Revenue growth | 8.9 | 6.9 | 86 of 192 | 56% |
| Profit growth | 1825.8 | 20.0 | 7 of 203 | 97% |
| Market cap | 2871 | 63 | 13 of 221 | 95% |
| 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 |
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.
