Shri Jagdamba Polymers Limited (SJPL) is a prominent Indian manufacturer and exporter specializing in the **Technical Textiles** industry. Established in **1985** and listed on the **BSE** in **1986**, the company has evolved into a high-performance fabric specialist. With a heavy export orientation—accounting for approximately **90% of total revenue**—SJPL serves global industrial packaging and construction markets through state-of-the-art manufacturing facilities in Gujarat. --- ### **Core Product Portfolio & Industrial Applications** The company operates within a single primary reportable segment: **Manufacturing of Technical Textiles**. SJPL utilizes both natural and synthetic fibers (including **polyester, viscose, nylon, and polypropylene**) to produce materials characterized by high thermal stability, durability, and lightweight properties. * **High-Performance Fabrics:** Geo-textiles, construction membranes, and non-woven fabrics. * **Industrial Packaging:** PP/HDPE woven fabrics and bags, including products that are impregnated, coated, or laminated with plastic. * **Specialty Fibers:** While regular fibers comprise **70%** of industry usage, SJPL is increasingly targeting the **Specialty Fibers** segment (high-value composites), which is projected to reach a global market value of **$46.9 Billion by 2026**. * **Value-Added Services:** The company provides **job work activities**, offering customized textile solutions and specialized processing for third-party clients. --- ### **Operational Infrastructure & Strategic Location** SJPL operates three specialized units in **Dholka, Ahmedabad (Gujarat)**, benefiting from the region's low-cost skilled labor and industrial ecosystem. | Unit | Location | Description | | :--- | :--- | :--- | | **Unit I** | GIDC Estate, Dholka | Primary Manufacturing Facility | | **Unit II** | GIDC Estate, Dholka | Primary Manufacturing Facility | | **Unit III** | Simej, Dholka | **100% Export Oriented Unit (EOU)** | To support future growth, the company recently acquired **45,845 square meters** of land adjacent to its existing Dholka facilities for manufacturing expansion. --- ### **Financial Performance & Export Momentum** The company demonstrated a robust recovery in **FY 2023-24**, following a contraction in the previous year. Revenue growth is primarily driven by international demand. **Three-Year Financial Summary:** | Metric (₹ in Crore) | FY 2023-24 | FY 2022-23 | FY 2021-22 | | :--- | :--- | :--- | :--- | | **Total Income** | **367.01** | **335.12** | **377.10** | | **Revenue from Operations** | **361.94** | **327.74** | **369.05** | | **Profit After Tax (PAT)** | **32.27** | **30.06** | **51.16** | | **Earnings Per Share (₹)** | **36.85** | **34.33** | **58.41** | | **Export Sales** | **326.92** | **278.42** | **316.02** | **Key Financial Notes:** * **Dividends:** The Board increased the dividend to **₹0.75 per equity share (75%)** for FY 2023-24, up from **₹0.50** the previous year. * **Exceptional Gains:** In **February 2026**, the company recorded an insurance settlement of **₹2.86 crore**. It also realized a **₹6.75 crore** refund for customs duty interest. * **Liquidity:** Net cash from operating activities improved to **₹42.52 crore** (FY 2022-23), reflecting enhanced working capital management. --- ### **Subsidiary Expansion & Group Synergy** SJPL is aggressively expanding its corporate footprint through its subsidiary, **Global Polyweave Private Limited (GPPL)**, incorporated in **August 2024**. * **Equity Increase:** In May 2025, SJPL increased its stake in GPPL from **55% to 80%** via a rights issue of **39,45,000 shares**. * **Financial Assistance Framework:** Shareholders have approved substantial financial support (loans/guarantees) to facilitate group-wide expansion: * **Global Polyweave Private Limited:** Up to **₹150 Crores**. * **Shakti Techtex / Shakti Polyweave / Shri Techtex:** Up to **₹100 Crores** each. * **Related Party Transactions:** Business dealings with entities where Managing Director **Mr. Ramakant Bhojnagarwala** is interested are conducted at **arm’s length**, with annual transaction limits capped at **₹100 Crores** per entity. --- ### **Innovation & Operational Efficiency** While SJPL reported **Nil** direct R&D expenditure in FY23, it employs a strategy of **process innovation** and **virtual technology** to maintain competitiveness. * **Virtual Simulation:** The company uses virtual environments for new product development and **durability testing**, which accelerates the development cycle and reduces the **cost of production**. * **Quality Benchmarking:** The company maintains **ISO 9001:2015** certification and a dedicated Quality Control Department to meet global standards. * **Policy Alignment:** SJPL aligns its growth with the **National Technical Textiles Mission (NTTM)** and the **PLI Scheme**, targeting a domestic market projected to reach **$40-50 Billion by 2024**. --- ### **Sustainability & Energy Transition** To mitigate rising power costs and volatility in fuel expenses, SJPL is transitioning to captive renewable energy under the **Gujarat Solar Power Policy**. * **Solar Investment:** Finalized an **8 MW Solar PV Plant** with an investment of **₹25 Crores**. * **Existing Assets:** Currently operates a **3.5 MW Windmill Turbine** and **0.90 MW** of solar panels. * **Impact:** These investments provide a "natural hedge" against energy inflation, directly improving operational margins. --- ### **Risk Management & Market Sensitivity** SJPL manages a complex risk profile involving global supply chains and commodity prices. * **Currency & Interest Hedging:** With **90%** export revenue, the company faces **Foreign Exchange Risk** (primarily USD/GBP). It uses foreign currency borrowings as a natural hedge. A **2%** fluctuation in INR/USD impacts profit by **₹181.59 Lakhs**. * **Raw Material Management:** Proactive procurement of **Polypropylene (PP)** and **HDPE** is used to counter price volatility linked to crude oil. * **Geopolitical Factors:** Management monitors disruptions in the **Red Sea** and tensions in **Eastern Europe** that may impact logistical costs and export momentum. * **Regulatory Compliance:** The company has addressed previous **SDD Software** non-compliance (2023) and is preparing for the **New Labour Codes** (effective Nov 2025), with no material financial impact expected. **Liability Maturity Profile (as of March 31, 2024):** | Particulars (₹ Lakhs) | < 1 Year | 1-2 Years | > 2 Years | | :--- | :--- | :--- | :--- | | **Borrowings** | **1,799.67** | **475.27** | **108.78** | | **Trade Payables** | **2,285.61** | **-** | **-** | --- ### **Leadership & Governance** Recent leadership changes (June 2024) have transitioned the company toward a more independent board structure: * **Mr. Ramakant Bhojnagarwala:** Redesignated from Chairman to **Managing Director**. * **Mr. Maheshkumar Gaurishankar Joshi:** Appointed as **Chairperson** (Non-Executive Independent). * **Workforce:** The company maintains a stable workforce of **1,310 permanent employees**, with a median remuneration increase of **18.97%** in the latest fiscal year.