Swaraj Suiting Q4 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹952 Cr
- P/E
- 15.58
- ROE
- 20.01%
- PEG
- 0.16
- Price to sales
- 1.39
- Debt to equity
- 0.96
- 52W high / low
- ₹389 / ₹195
- Sales growth (5Y)
- 57.31%
- EBITDA margin
- 17.97%
- Net profit margin
- 8.56%
- Promoter holding
- 62.72%
- Sales (last year)
- ₹683 Cr
Incorporated in 2003, Swaraj Suiting Ltd does production of grey and finished fabric which are used into home textiles, bottom wears etc.[1]
Guidance scorecard · Q4 FY26 call
What Swaraj Suiting's management guided
and where it ranks in Textiles & Apparels
RevenueQ2 FY25 call
40%+- Revenue guidance for FY25 remains strong at around INR 600 crore, with a target of approximately INR 450 crore sales in H2 FY25.
- Capacity expansion has more than doubled; total manufacturing capacity now ~40 lakh meters/month (20 lakh cotton fabric + 21 lakh denim fabric).
- Full utilization of existing plant could achieve INR 1000 crore+ revenue in the future.
- Order books are rotational but stable; denim order book around 25-30 lakh meters.
- Export revenues targeted at INR 100-150 crore for the year, with export revenue at 10-15% of total currently.
2 more points from Swaraj Suiting's call on revenue
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MarginsQ2 FY25 call
FlatSee what Swaraj Suiting said on margins — free account, 30 seconds.
CapexQ2 FY25 call
Planned- Swaraj Suiting Limited is planning to enter garmenting and expand yarn manufacturing, which is driving the current fundraising through preferential allotment.
- The company has recently doubled its denim capacity from 15 lakh meters to 21 lakh meters per month and expanded grey fabric capacity by 7.5 lakh meters per month.
- The cotton fabric division has commenced operations and is stabilizing.
- The yarn plant commissioning faced a slight delay but is expected to be operational by early December.
- Future CapEx will be focused on backward integration, primarily garmenting and yarn, not on fabric capacity expansion.
2 more points from Swaraj Suiting's call on capex
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FundraisingQ2 FY25 call
PlannedSee what Swaraj Suiting said on fundraising — free account, 30 seconds.
Order bookQ2 FY25 call
Rising- Domestic order book is around INR 80-90 crores.
- Export order book is around INR 21 crores, combining cotton and denim fabrics.
- Denim order book has historically remained at 25-30 lakh meters, matching capacity.
- Cotton fabric order book currently at around 15 lakh meters and rapidly increasing.
- Order books are rotational, typically covering 45-50 days, not long-term (7-8 months).
- New orders come in as existing orders are delivered; long-term order visibility is limited.
2 more points from Swaraj Suiting's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Textiles & Apparels
on management's own guidance
- Strong growth2
- Strong growth1
- Sumeet IndustrieGood growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Textiles & Apparels companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹602 Cr | 97.3 | |
| 2 | 40%+ | Flat | ₹383 Cr | 25.2 | |
| 3 | Sumeet Industrie | 20–40% | Up 2%+ | ₹638 Cr | 25.8 |
| 4 | 20–40% | Up 2%+ | ₹301 Cr | 20.1 | |
| 5 | 20–40% | Up 0–2% | ₹2,383 Cr | 10.4 | |
| 6 | 20–40% | Up 0–2% | ₹1,032 Cr | 55.7 |
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Pro shows every company guiding 40%+ revenue growth →Full Textiles & Apparels rankingFinancials of Swaraj Suiting
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Swaraj Suiting
Shareholding breakup across reporting periods.
| Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 73.30% | 73.31% | 73.30% | 68.91% | 73.59% | 71.59% | 74.97% | 74.97% | 74.97% | 64.95% | 64.69% | 62.72% |
| FIIs + | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.01% | 0.01% | 0.00% | 0.00% | 0.85% | 0.79% | 0.08% |
| DIIs + | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.13% | 0.03% | 0.71% | 0.59% | 0.59% | 3.41% |
| Public + | 26.69% | 26.69% | 26.69% | 31.09% | 26.41% | 28.40% | 24.90% | 25.00% | 24.32% | 33.60% | 33.93% | 33.79% |
| No. of Shareholders | 623 | 527 | 529 | 431 | 570 | 991 | 1,303 | 1,668 | 1,840 | 1,907 | 1,843 | 2,271 |
Financials of Swaraj Suiting
Quarterly Results
Quarter-by-quarter operating performance
| Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|
| Sales + | 86 | 169 | 77 | 127 | 165 | 207 | 183 |
| Expenses + | 71 | 136 | 53 | 99 | 141 | 173 | 148 |
| Operating Profit | 15 | 34 | 24 | 28 | 25 | 34 | 36 |
| OPM % | 17% | 20% | 32% | 22% | 15% | 17% | 19% |
| Other Income + | 1 | -1 | 1 | 1 | 1 | 6 | 2 |
| Interest | 5 | 6 | 9 | 10 | 6 | 5 | 11 |
| Depreciation | 3 | 3 | 4 | 6 | 6 | 6 | 6 |
| Profit before tax | 7 | 23 | 11 | 12 | 15 | 28 | 21 |
| Tax % | 31% | 20% | 29% | 27% | 27% | 14% | 22% |
| Net Profit + | 5 | 18 | 9 | 9 | 11 | 25 | 16 |
| EPS in Rs | 2.66 | 8.33 | 4.07 | 4.07 | 5.02 | 9.38 | 6.22 |
Financials of Swaraj Suiting
Profit & Loss
Annual income statement trend
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Sales + | 76 | 80 | 60 | 129 | 219 | 320 | 417 | 577 | 683 |
| Expenses + | 62 | 64 | 50 | 115 | 196 | 280 | 344 | 465 | 561 |
| Operating Profit | 14 | 16 | 10 | 13 | 23 | 40 | 73 | 112 | 123 |
| OPM % | 19% | 20% | 16% | 10% | 11% | 12% | 18% | 19% | 18% |
| Other Income + | 0 | 0 | 0 | 0 | 1 | 6 | 2 | 8 | 10 |
| Interest | 4 | 5 | 3 | 3 | 9 | 13 | 19 | 30 | 33 |
| Depreciation | 7 | 7 | 4 | 5 | 8 | 8 | 11 | 23 | 24 |
| Profit before tax | 3 | 4 | 3 | 6 | 8 | 24 | 44 | 67 | 76 |
| Tax % | 22% | 17% | 20% | 25% | 27% | 25% | 25% | 22% | |
| Net Profit + | 2 | 4 | 3 | 5 | 6 | 18 | 33 | 52 | 61 |
| EPS in Rs | 2.62 | 4.19 | 2.90 | 3.17 | 3.97 | 10.16 | 15.06 | 19.90 | 24.69 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Swaraj Suiting
Balance Sheet
Capital structure and asset base
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 7 | 7 | 18 | 22 | 26 |
| Reserves | 24 | 29 | 36 | 54 | 59 | 89 | 132 | 314 |
| Borrowings + | 56 | 49 | 42 | 74 | 113 | 175 | 268 | 327 |
| Other Liabilities + | 12 | 17 | 12 | 7 | 51 | 74 | 150 | 191 |
| Total Liabilities | 94 | 97 | 92 | 142 | 231 | 356 | 571 | 858 |
| Fixed Assets + | 52 | 45 | 36 | 37 | 81 | 77 | 262 | 315 |
| CWIP | 0 | 0 | 0 | 41 | 3 | 69 | 13 | 46 |
| Investments | 0 | 0 | 3 | 3 | 3 | 4 | 4 | 5 |
| Other Assets + | 41 | 52 | 53 | 61 | 143 | 207 | 293 | 492 |
| Total Assets | 94 | 97 | 92 | 142 | 231 | 356 | 571 | 858 |
Financials of Swaraj Suiting
Cash Flows
Operating, investing and financing cash movement
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 10 | 9 | 6 | 15 | -15 | 45 | 41 | -17 |
| Cash from Investing Activity + | -13 | 1 | -6 | -47 | -17 | -99 | -127 | -111 |
| Cash from Financing Activity + | 4 | -10 | 0 | 34 | 31 | 54 | 87 | 138 |
| Net Cash Flow | -0 | 0 | -0 | 2 | -2 | -0 | 0 | 10 |
| Free Cash Flow | 4 | 16 | 3 | -32 | -30 | -25 | -99 | -97 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 69% | 60% | 57% | 112% | -57% | 117% | 64% | -9% |
Financials of Swaraj Suiting
Ratios
Working capital efficiency and return ratios
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 62 | 62 | 80 | 40 | 94 | 76 | 88 | 78 |
| Inventory Days | 204 | 254 | 293 | 113 | 160 | 146 | 183 | 232 |
| Days Payable | 53 | 90 | 88 | 10 | 106 | 102 | 173 | 160 |
| Cash Conversion Cycle | 213 | 226 | 285 | 144 | 149 | 120 | 99 | 150 |
| Working Capital Days | 37 | 69 | 113 | 90 | 46 | 45 | 40 | 83 |
| ROCE % | 12% | 8% | 8% | 10% | 16% | 18% | 17% |
Guidance history
How Swaraj Suiting's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q2 FY25 call → | 40%+ | Flat | Planned | Planned | Rising |
| Q4 FY24 call → | 40%+ | Up 0–2% | Planned | Planned | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
79 out of 100 — Strengthening
Over the past year its share price has done better than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +77.4% | 91% |
| Last 6 months | +19.6% | 76% |
| Last 3 months | −3.0% | 62% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Swaraj Suiting: 0.4 × 91 + 0.4 × 76 + 0.2 × 62 = 79.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Swaraj Suiting's management said in earlier quarters
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