1. Ludhiana manufacturing capacity expansion - A ₹57.12 crore issue-funded capex across FY26 and FY27 adds spinning, processing, and dyeing capacity at Ludhiana, though purchase orders remain unplaced. With overall utilisation reaching 83.31% in FY25, the expansion clears manufacturing bottlenecks to support higher-margin dyed and recycled yarn volumes.
2. Downstream product mix diversification - Fabric sales increased from ₹3.47 crore (4.24% of revenue) in FY23 to ₹26.60 crore (23.66%) in FY25, alongside synthetic fibre sales reaching ₹18.05 crore (16.05%). Moving the product mix from basic yarn toward finished fabrics and recycled fibres lifted EBITDA margins from 5.51% to 12.06%.
3. Geographic and export expansion - Sales outside Punjab expanded in FY25 as Maharashtra reached ₹4.95 crore (4.40% of sales) and direct exports began at ₹50.72 lakh, though Punjab remains 94.04% of revenue. Geographic broadening helps diversify the customer base, reducing top-10 customer revenue concentration from 73.06% in FY23 to 54.93% in FY25.