Any current/future new fundraising through debt or equity?

There is no mention of any current or future plans for new fundraising through debt or equity in the transcript. The management specifically stated there is no plan for new projects or new acquisitions, indicating no immediate need for raising funds. Capex for the next financial year is limited to maintenance (INR 10-15 crores), solar investment (~INR 10 crores), and minor expansion (~INR 5 crores), totaling about INR 30 crores, which suggests internal accruals or existing resources could cover requirements. No comments were made about raising equity or significant new debt beyond maintaining

Any current/future capex/capital investment/strategic investment?

No major expansion capex planned for the next financial year; focus is on completing ongoing projects. Maintenance capex of approximately INR 10-15 crores annually is planned. Investment of around INR 10 crores planned for solar energy initiatives as part of sustainability efforts. Additional capex of roughly INR 5 crores earmarked for expansion-related activities in Young Brand. Total estimated capex for FY27 is around INR 30 crores covering maintenance, sustainability, and Young Brand expansion. No new projects or acquisitions planned for the current financial year. Ongoing capex related to

Future growth expectations in sales/revenue/volumes?

FY27 revenue guidance stands at INR 2,000 crores consolidated (Page 6, 20). Young Brand expected to grow 15-20% next financial year with Salem project ramp-up and new UK customers (Page 19). Exports from current India capacity (~5,000 machines) planned at close to INR 1,200 crores at 95% utilization next year (Page 19). Sri Lanka operations viewed as high potential with capacity to add 500 machines over 2-3 years; versatility across product types expected to support growth (Page 17). US market exposure expected to increase from 15-17% to over 20% of standalone revenue in FY27 (Page 16). Garmen

Future growth expectations in earnings/operating earnings/profits/EPS?

FY27 consolidated revenue guidance stands at INR 2,000 crores. Garment division EBITDA margin expected around 15%, including Young Brand and Sri Lanka business. Young Brand: growth of 15%-20% expected next financial year, with better utilization and new customers. US business expected to contribute 20%+ revenue in FY27, recovering post-tariff issues. Sri Lanka factories to reach near 100% utilization by Q3 FY27, aiding margin improvement. EBITDA margins expected to improve with full utilization of spinning and dyeing plants as US business revives. No major capex in FY27; maintenanc

Current/ Expected Orderbook/ Pending Orders?

Order book status division-wise as of February 13, 2026: - S.P. Apparels Limited (SPAL): INR 353 crores - Young Brand Apparel (YBAPL): INR 87 crores - SP UK (SPUK): INR 30 crores The company expects a stronger outlook and steady order inflows from next financial year onwards due to policy clarity and resumption of Young Brand expansion and scaling up of SPUK. Sri Lanka platform expected to operate normally from Q1 FY27, with customer shipments ramping from Q2 FY27. Current order pipeline and customer additions in Sri Lanka combined with other business expansions support growth traject

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S P Apparels LtdQ4 FY27Textiles & Apparels

S P Apparels Ltd Q4 FY27 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹1,038P/E: 17.3Market Cap: ₹2.0K CrSector: Textiles & Apparels

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

Order

N/A

Capex

0 of 4 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 3

→FY27 revenue guidance stands at INR 2,000 crores consolidated (Page 6, 20).
→Young Brand expected to grow 15-20% next financial year with Salem project ramp-up and new UK customers (Page 19).
→Exports from current India capacity (~5,000 machines) planned at close to INR 1,200 crores at 95% utilization next year (Page 19).
→Sri Lanka operations viewed as high potential with capacity to add 500 machines over 2-3 years; versatility across product types expected to support growth (Page 17).
→US market exposure expected to increase from 15-17% to over 20% of standalone revenue in FY27 (Page 16).
→Garment division EBITDA margin guidance maintained at 15%, factoring Sri Lanka's lower margins (Page 11).
→No major new capex planned beyond FY27 except maintenance capex (~INR 10-15 crores), solar investment (~INR 10 crores), and minor expansions (~INR 5 crores) in Young Brand (Page 19).

Margin guidance

Category 3

→FY27 consolidated revenue guidance stands at INR 2,000 crores.
→Garment division EBITDA margin expected around 15%, including Young Brand and Sri Lanka business.
→Young Brand: growth of 15%-20% expected next financial year, with better utilization and new customers.
→US business expected to contribute 20%+ revenue in FY27, recovering post-tariff issues.
→Sri Lanka factories to reach near 100% utilization by Q3 FY27, aiding margin improvement.
→EBITDA margins expected to improve with full utilization of spinning and dyeing plants as US business revives.
→No major capex in FY27; maintenance and sustainability capex approx. INR 30 crores anticipated.
→Positive outlook on normalized margins and growth from Q2 FY27 onwards as order flows stabilize.

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Fundraise plans

→There is no mention of any current or future plans for new fundraising through debt or equity in the transcript.
→The management specifically stated there is no plan for new projects or new acquisitions, indicating no immediate need for raising funds.
→Capex for the next financial year is limited to maintenance (INR 10-15 crores), solar investment (~INR 10 crores), and minor expansion (~INR 5 crores), totaling about INR 30 crores, which suggests internal accruals or existing resources could cover requirements.
→No comments were made about raising equity or significant new debt beyond maintaining current operations and ongoing capex.

Order book

→Order book status division-wise as of February 13, 2026:
→ - S.P. Apparels Limited (SPAL): INR 353 crores
→ - Young Brand Apparel (YBAPL): INR 87 crores
→ - SP UK (SPUK): INR 30 crores
→The company expects a stronger outlook and steady order inflows from next financial year onwards due to policy clarity and resumption of Young Brand expansion and scaling up of SPUK.
→Sri Lanka platform expected to operate normally from Q1 FY27, with customer shipments ramping from Q2 FY27.
→Current order pipeline and customer additions in Sri Lanka combined with other business expansions support growth trajectory.
→Despite softer Q3 and Q4 quarter due to U.S. tariff issues, company maintains confidence in growth and order inflows for future periods.

Capex plans

→No major expansion capex planned for the next financial year; focus is on completing ongoing projects.
→Maintenance capex of approximately INR 10-15 crores annually is planned.
→Investment of around INR 10 crores planned for solar energy initiatives as part of sustainability efforts.
→Additional capex of roughly INR 5 crores earmarked for expansion-related activities in Young Brand.
→Total estimated capex for FY27 is around INR 30 crores covering maintenance, sustainability, and Young Brand expansion.
→No new projects or acquisitions planned for the current financial year.
→Ongoing capex related to Salem project and existing India operations expected to be completed by year-end.

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