S P Apparels
S P Apparels Q1 FY26 earnings call: Revenue & Margins
Q1 FY26 earnings call: what management said on revenue, margins and capex.
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The short version
Sri Lanka operations target scaling from 650 to 2,000 machines by March 2026, potentially achieving revenue of INR 150-200 crores by FY26, with no immediate further capex planned until utilization stabilizes. Q1 FY26 standalone business showed strong growth: 34.5% revenue increase and 15.2% EBITDA margin.
From S P Apparels's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Sri Lanka operations target scaling from 650 to 2,000 machines by March 2026, potentially achieving revenue of INR 150-200 crores by FY26, with no immediate further capex planned until utilization stabilizes.
- Total group capacity, including Young Brand, expected to reach around 7,800 machines by FY26 end and approximately 9,800-10,000 machines by FY27, supporting topline growth toward INR 2,000 crores.
- SPUK business aims for GBP 10-12 million revenue in FY26, with shipments and customer acquisitions starting Q3 onwards.
- Domestic standalone business added 700 machines via capex of INR 75-80 crores, enhancing production and driving 35% YoY growth in garment division in Q1 FY26.
2 more points from S P Apparels's call on revenue
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Profitability & Margins
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Capital Expenditure Plans
- Capex of approximately INR 75-80 crores incurred for adding around 700 machines across Palladam (new factory), SIPCOT, and Thuraiyur, mainly in India.
- Expansion projects in India expected to be completed by FY26 end, including acquisitions in Sri Lanka.
- FY26 and FY27 maintenance capex estimated at INR 20-30 crores per year.
- Sri Lanka operations targeting scale-up from current 650 machines to 2,000 by March 2026 with no immediate further capex planned until utilization stabilizes.
- Total machine capacity across India, Sri Lanka, and Young Brand expected to reach around 9,700-10,000 by FY27.
- No backward integration capex planned currently; existing capacity fully utilized.
2 more points from S P Apparels's call on capex
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Top-ranked in Textiles & Apparels
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- As of Q1 FY26, the Garment division's order book stands at INR 404 crores.
- SPUK business had an order book value of GBP 3.97 million as of the same period.
- SPUK expects shipments to start from Q3 FY26, with a planned revenue target of GBP 10-12 million for the financial year.
- The company is onboarding new customers in Sri Lanka post-acquisition of factories, expecting small quantities in Q2 FY26 and full production from Q3 FY26.
2 more points from S P Apparels's call on order book
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S P Apparels — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹365 Cr, net profit ₹19 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What S P Apparels's management said in earlier quarters
Others in Textiles & Apparels this season
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268.3 crores, up 22% YoY (Q1 FY’25: Rs. Key concall takeaways from Lux Industries Ltd's Q1 FY26 earnings call — and how it ranks against sector peers.
- K P R Mill Ltd (Q1 FY26)
Revenue from operations for Q1FY26: ₹1,766.27 Cr (Page 7) . Key concall takeaways from K P R Mill Ltd's Q1 FY26 earnings call — and how it ranks against sector…
- Trident (Q1 FY26)
Total Income for Q1FY26 (Standalone) was INR 17,199 million, a 1.70% decrease YoY from Q1FY25's INR 17,496 million (Page 25, 20). Key concall takeaways from…
- Sangam India (Q1 FY26)
803 crore, up 15% YoY from Rs. Key concall takeaways from Sangam (India) Ltd's Q1 FY26 earnings call — and how it ranks against sector peers.
Potential multibaggers · Q2 FY27
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on management's own guidance
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were S P Apparels Q1 FY26 results?
Sri Lanka operations target scaling from 650 to 2,000 machines by March 2026, potentially achieving revenue of INR 150-200 crores by FY26, with no immediate further capex planned until utilization stabilizes. Q1 FY26 standalone business showed strong growth: 34.5% revenue increase and 15.2% EBITDA margin.
What is S P Apparels share price analysis?
S P Apparels currently shows a neutral. The stock trades at a P/E of 22.4 with a market cap of ₹2,356 Cr. Investors should review the full earnings analysis for detailed insights.
Is S P Apparels planning capital expenditure?
Capex of approximately INR 75-80 crores incurred for adding around 700 machines across Palladam (new factory), SIPCOT, and Thuraiyur, mainly in India.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.