SPORTKING INDIA LIMITED

Spins cotton yarn for textile buyers in Bangladesh and China, with FY26 revenue of Rs 2,495.86 crore and EBITDA margin of 12.04%. Cotton, at 68.3% of revenue, is the dominant cost. Bangladesh is the largest export market; China's share of its exports has surged from 2-3% to 10-12%, while China overall now absorbs 25-30% of India's monthly cotton yarn exports. Existing plants are running at 95-96% utilisation. An INR 1,000 crore greenfield project adding 150,000 spindles is on track for Q3 FY27 commissioning, with management targeting 97-98% utilisation within six months. Two acquisitions have been approved — a majority stake in Marvel Dyers (dyeing/finishing, turnover Rs 55.83 crore) and a slump-sale purchase of Sobhagia Sales (readymade garments) — expected to close by end CY2026 and add about Rs 200 crore in revenue. A 40 MW solar plant commissioned in May 2026 is expected to save Rs 14-15 crore annually in power costs. Cotton-yarn spreads are at near 3-year highs of over $1/kg, supporting margins into FY27, with FY27 consolidated revenue guided at Rs 2,700-2,800 crore.