Banswara Syntex LimitedQ1 FY27 Results & Financial Update
Banswara Syntex Limited: Q1 FY27 consolidated results and company financials – revenue ₹315.83 Cr, PAT ₹4.61 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Banswara Syntex Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
s, total income grew by 4.1% year-on-year, underpinned by improved domestic realizations and a favorable shift towards value-added product categories, despite facing seasonal softness typical of the first quarter.
The Fabric division delivered a strong performance with revenue rising 25% year-on-year to Rs. 147 crore, driven by robust demand for value-added categories such as bi-stretch, poly-rich blends, and wool blends, alongside capacity utilization improving to 80%.
Conversely, the Yarn division experienced temporary operational constraints due to ongoing labor shortages that impacted production volume to 36 lakh kgs and capacity utilization to 70%, though improved domestic realizations partially offset the revenue impact.
The Garment division, which is seasonally softer in the first quarter, encountered temporary export logistics bottlenecks from geopolitical uncertainties and customer pickup delays, resulting in a revenue of Rs. 69 crore, while maintaining a healthy order book fully booked through November.
EBITDA for the quarter stood at Rs. 29.5 crore representing an EBITDA margin of 9.1%, expanding from 7.1% in the corresponding quarter of the previous year on account of better product realization and gross margin expansion.
Management noted that the company's vertically integrated business model is functioning effectively through increased internal consumption of yarn within the fabric division, reinforcing overall revenue visibility for the upcoming quarters.
01 · Business model
What does Banswara Syntex do?
Banswara Syntex Limited is a vertically integrated textile manufacturer incorporated in 1976, offering comprehensive textile solutions spanning yarn, fabrics, readymade garments, and power generation.
The company operates manufacturing plants located in Banswara (Rajasthan), Surat (Gujarat), and Daman, holding an installed capacity of 2,831 tonnes per month of yarn, 2.5 million meters per month of weaving, 3.0 million meters per month of processing, and specialized garment capacities including trousers and jackets.
Banswara's operational model integrates upstream spinning with downstream fabric weaving and garment manufacturing, enabling enhanced internal yarn consumption, reduced lead times, and a diversified product mix featuring synthetic blended yarns, wool specialties, stretch fabrics, and technical textiles.
The company serves a global and domestic customer base across more than 65 countries, maintaining long-standing business relationships with prominent international apparel brands and domestic retail chains.
02 · Historical context
What shaped the business before this quarter
Founded in 1976 by late Shri Toshniwal with initial yarn production of 12,500 spindles, gradually expanding into fabric weaving under the Bantex brand.
Progressively expanded manufacturing capabilities over decades, establishing captive thermal power plants starting in 2007-08, entering readymade garment production, and amalgamating Banswara Textile Mills Ltd.
Established joint ventures in technical and automotive textiles, including a partnership with French company TESCA, and built enduring supply relationships with global brands such as Peerless Clothing and Uniqlo.
Invested over Rs. 955 crores towards expansion and modernization between FY 2010 and Q1 FY2027, scaling total spinning infrastructure to approximately 1,56,880 spindles and 463 looms.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹315.83 Cr |
| Total income | ₹322.43 Cr |
| Profit before tax | ₹5.17 Cr |
| Profit after tax | ₹4.61 Cr |
| EPS | ₹1.35 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Fabric revenue expanded 25% year-on-year to Rs. 147 crore, supported by an 18% rise in sales volume to 59 lakh meters and higher capacity utilization of 80%.
Continued strategic focus on premium product categories—including bi-stretch, poly-rich blends, and wool blends—drove higher realizations and improved revenue visibility across key export markets.
While yarn revenue moderated to Rs. 96 crore due to a 29% decline in sales volumes caused by labor shortages, improved domestic yarn realizations partially cushioned the top-line impact.
Garment revenue stood at Rs. 69 crore amid temporary dispatch delays, but robust order books fully booked through November provide strong pipeline visibility for subsequent quarters.
What drove margins
EBITDA margin improved by 200 basis points year-on-year to 9.1% (absolute EBITDA of Rs. 29.5 crore versus Rs. 21.9 crore in Q1FY26), aided by better realizations and product mix.
Energy expenses rose due to higher coal prices affecting thermal generation costs, prompting operational adjustments such as switching partially to grid power.
Manpower costs increased year-on-year, reflecting statutory minimum wage revisions and annual salary increments across manufacturing facilities.
05 · Demand, customers & order book
Where demand is coming from
The fabric and garment divisions maintain healthy order books, with the garment division reported as fully booked through November.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Recorded revenue of Rs. 96 crore with sales volumes of 36 lakh kgs and 70% capacity utilization; lower production stemmed from temporary labor shortages, alongside increased internal captive yarn consumption.
Delivered revenue of Rs. 147 crore with sales volumes of 59 lakh meters and 80% capacity utilization, driven by strong demand for bi-stretch and technical textiles.
Generated revenue of Rs. 69 crore with sales volumes of 8 lakh pieces and 69% capacity utilization, impacted by seasonal slowness and logistics constraints.
Geography and market mix
USA, Middle East, and Domestic markets delivered healthy operating performance, whereas demand in European markets remained relatively subdued.
Strengthened international and domestic customer portfolios by onboarding leading global brands such as Haggar, NEXT, C&A, Mango, Celio, and Walmart.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
The company operates approximately 1,56,880 spindles, 463 looms, and a yarn capacity of 2,831 tonnes per month across its facilities.
Maintains captive thermal power generation capacity totaling 33 MW per year across two units (18 MW and 15 MW).
Projects, capex and execution
Incurred capital expenditures during the quarter including Rs. 6.53 crore for yarn, Rs. 6.51 crore for fabrics, Rs. 0.78 crore for garments, and Rs. 0.84 crore for power generation.
08 · Strategy & new businesses
How the company is trying to change its growth mix
Expanding internal yarn consumption within the fabric division to strengthen supply chain coordination, reduce lead times, and enhance overall margin profiles.
Positioning business divisions to capture export growth opportunities arising from recently operationalized and evolving free trade agreements.
09 · Reported developments
What changed operationally
Fabric division achieved 25% year-on-year revenue growth driven by premium value-added product lines and improved capacity utilization.
Reported positive net profit after tax of Rs. 4.61 crore for Q1 FY27, improving from a net loss position in the corresponding quarter of the previous year.
10 · Pressure points & risks
What is not going smoothly
Temporary labor shortages constrained yarn division production volumes and kept capacity utilization restricted to 70% during the quarter.
Geopolitical uncertainties led to temporary export logistics constraints and customer pickup delays, impacting garment division dispatches.
11 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Capital allocation & funding
Net debt decreased by Rs. 10.80 crore to Rs. 472.38 crore as of June 30, 2026, compared to previous periods.
12 · Management guidance & targets
What management is targeting from here
Management expressed confidence in achieving previously stated full-year FY27 guidance of Rs. 1,450–1,500 crore in revenue and 10.5%–11% in EBITDA margins, supported by seasonal recovery and robust order books.
13 · Beyond the numbers
What changed beyond the numbers
Reported update
CSR and Community Initiatives
Continued developmental support for RL Toshniwal Udyan, police lines library construction in Banswara, OSCAR sports-for-development programs, and Shikshantar fellowship initiatives for tribal education.
14 · Previous-quarter changes
What changed since the previous quarter
Total income reflected seasonal softness compared to the preceding quarter (Q4 FY26), alongside ongoing labor and logistic headwinds.
15 · Key Q&A
The quarter, answered directly
What does Banswara Syntex do?
Banswara Syntex Limited is a vertically integrated textile manufacturer incorporated in 1976, offering comprehensive textile solutions spanning yarn, fabrics, readymade garments, and power generation.
What is the clearest takeaway from Q1 FY27?
s, total income grew by 4.1% year-on-year, underpinned by improved domestic realizations and a favorable shift towards value-added product categories, despite facing seasonal softness typical of the first quarter.
What drove revenue or demand?
Fabric revenue expanded 25% year-on-year to Rs. 147 crore, supported by an 18% rise in sales volume to 59 lakh meters and higher capacity utilization of 80%.
What mattered most for margins or profitability?
EBITDA margin improved by 200 basis points year-on-year to 9.1% (absolute EBITDA of Rs. 29.5 crore versus Rs. 21.9 crore in Q1FY26), aided by better realizations and product mix.
What changed operationally beyond the headline numbers?
The company operates approximately 1,56,880 spindles, 463 looms, and a yarn capacity of 2,831 tonnes per month across its facilities.
What is management guiding or targeting from here?
Management expressed confidence in achieving previously stated full-year FY27 guidance of Rs. 1,450–1,500 crore in revenue and 10.5%–11% in EBITDA margins, supported by seasonal recovery and robust order books.
16 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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17 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Labor Availability Normalization: Monitor the recovery of production volumes and capacity utilization in the yarn division as labor availability improves.
- 02
Festive Season Execution: Track execution against the robust garment order book through November and the realization of full-year revenue and margin guidance.
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