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Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹3,813Cr
Rev Gr TTM
Revenue Growth TTM
11.63%
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SANATHAN
VS
| Quarter | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | | | | | -0.5 | -4.8 | -3.2 | -4.6 | 10.2 | 45.1 |
| 694 | 720 | 677 | 705 | 684 | 685 | 664 | 676 | 755 | 1,021 |
Operating Profit Operating ProfitCr |
| 7.0 | 7.8 | 10.5 | 9.8 | 7.8 | 7.9 | 9.3 | 9.3 | 7.7 | 5.3 |
Other Income Other IncomeCr | 6 | 2 | 10 | 7 | 4 | 5 | 3 | 2 | 7 | 4 |
Interest Expense Interest ExpenseCr | 5 | 6 | 5 | 5 | 5 | 5 | 2 | 5 | 18 | 36 |
Depreciation DepreciationCr | 11 | 11 | 11 | 11 | 11 | 12 | 12 | 12 | 18 | 31 |
| 41 | 45 | 72 | 67 | 45 | 47 | 57 | 55 | 33 | -5 |
| 11 | 10 | 20 | 17 | 13 | 13 | 14 | 15 | 13 | 0 |
|
Growth YoY PAT Growth YoY% | | | | | 7.7 | -0.2 | -16.5 | -19.3 | -38.2 | -114.0 |
| 4.1 | 4.4 | 6.9 | 6.4 | 4.4 | 4.6 | 6.0 | 5.4 | 2.5 | -0.4 |
| 4.2 | 4.8 | 7.3 | 7.0 | 4.5 | 4.7 | 5.2 | 4.8 | 2.4 | -0.6 |
| Financial Year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| | 4.5 | -11.2 | 1.4 | 12.5 |
| 2,648 | 3,070 | 2,731 | 2,736 | 3,116 |
Operating Profit Operating ProfitCr |
| 16.9 | 7.8 | 7.7 | 8.8 | 7.7 |
Other Income Other IncomeCr | 16 | 16 | 22 | 17 | 16 |
Interest Expense Interest ExpenseCr | 32 | 22 | 23 | 18 | 61 |
Depreciation DepreciationCr | 42 | 43 | 44 | 46 | 72 |
| 479 | 209 | 181 | 216 | 141 |
| 124 | 57 | 48 | 56 | 41 |
|
| | -57.0 | -12.4 | 19.9 | -38.0 |
| 11.2 | 4.6 | 4.5 | 5.3 | 3.0 |
| 49.4 | 21.2 | 18.6 | 21.3 | 11.8 |
| Financial Year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 72 | 72 | 72 | 84 | 84 |
| 915 | 1,068 | 1,203 | 1,724 | 1,765 |
Current Liabilities Current LiabilitiesCr | 459 | 466 | 505 | 674 | 815 |
Non Current Liabilities Non Current LiabilitiesCr | 350 | 300 | 423 | 1,046 | 1,417 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 860 | 802 | 909 | 857 | 1,046 |
Non Current Assets Non Current AssetsCr | 936 | 1,105 | 1,294 | 2,671 | 3,036 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 295 | 362 | 192 | 284 |
Investing Cash Flow Investing Cash FlowCr | -96 | -235 | -245 | -1,342 |
Financing Cash Flow Financing Cash FlowCr | -199 | -126 | 74 | 1,059 |
|
Free Cash Flow Free Cash FlowCr | 254 | 149 | -21 | -1,144 |
| 82.9 | 237.2 | 143.3 | 177.0 |
CFO To EBITDA CFO To EBITDA% | 54.8 | 139.6 | 84.6 | 108.1 |
| Financial Year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 0 | 0 | 0 | 3,053 |
Price To Earnings Price To Earnings | 0.0 | 0.0 | 0.0 | 19.0 |
Price To Sales Price To Sales | 0.0 | 0.0 | 0.0 | 1.0 |
Price To Book Price To Book | 0.0 | 0.0 | 0.0 | 1.7 |
| 0.7 | 0.7 | 1.2 | 15.2 |
Profitability Ratios Profitability Ratios |
| 36.5 | 27.8 | 27.9 | 29.3 |
| 16.9 | 7.8 | 7.7 | 8.8 |
| 11.2 | 4.6 | 4.5 | 5.3 |
| 37.5 | 16.3 | 12.4 | 8.1 |
| 36.0 | 13.4 | 10.5 | 8.9 |
| 19.8 | 8.0 | 6.1 | 4.5 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
Sanathan Textiles Limited is a leading, fully integrated Indian yarn manufacturer with over two decades of industry presence, established in 2005. The company specializes in three core yarn verticals—**Polyester Filament Yarn (PFY), Cotton Yarn, and Yarns for Technical Textiles**—positioning it among a select few diversified players in the Indian textile sector. With a strategic focus on backward integration, sustainability, product innovation, and operational efficiency, Sanathan is rapidly expanding its manufacturing footprint to strengthen its position as one of India’s most agile and future-ready textile companies.
---
### **Business Segments & Capacity**
Sanathan Textiles operates across three vertically integrated business lines:
| Segment | Installed Capacity (MTPA) | Revenue Contribution | Key Applications |
|--------|----------------------------|------------------------|------------------|
| **Polyester Filament Yarn** | 456,250 (Silvassa: 200,750; Punjab: 255,500*) | **77%** | Apparel, athleisure, home textiles, automotive, furnishings |
| **Cotton Yarn** | 14,000 (+11,490 MTPA in expansion) | **19%** | Denim, shirting, suiting, bedsheets, industrial thread |
| **Technical Textile Yarn** | 9,000 (+9,000 MTPA planned) | **4%** | Geotextiles, automotive, defense, industrial safety, agriculture |
> *Note: Punjab Phase 1 capacity added as of Nov 2025. Total capacity to reach **570,500 MTPA** once all phases are complete.*
The company's total installed capacity stands at **479,250 MTPA**, up from 223,750 MTPA at its Silvassa facility, reflecting the ongoing expansion via its **wholly owned subsidiary, Sanathan Polycot Private Limited**.
---
### **Strategic Expansion & Manufacturing Footprint**
#### **1. Punjab Greenfield Facility (Wazirabad)**
- **Location:** 80 acres of freehold land in Wazirabad, Punjab.
- **Total Capacity:** 346,750 MTPA (Phase 1: 255,500 MTPA; Phase 2: 91,250 MTPA).
- **Daily Output:** Increased from 550 TPD to 1,500 TPD after full commissioning.
- **Operational Status:**
- **Aug 2025:** Trial production began.
- **Nov 2025:** Commercial production commenced with initial **350 tonnes/day** from Continuous Polymerization (CP) line.
- **Q1 FY26:** Full ramp-up underway; expected to reach **700 TPD** in 3–4 months, with Phase 2 adding **950 TPD** by FY27.
- **Strategic Advantages:**
- First **fully integrated PFY plant in North India**.
- Proximity to major textile clusters (Delhi, Ludhiana, Panipat, Amritsar).
- **Lower logistics costs**, faster delivery, improved customer responsiveness.
- **Backward integration** from PTA/MEG to finished yarns, including value-added lines.
- Creates over **2,500 jobs**.
#### **2. Madhya Pradesh Cotton Facility**
- Sanathan Polycot is establishing a **new greenfield cotton yarn facility** in MP, leveraging the region’s strong cotton ecosystem and supportive policies.
- This expansion enhances Sanathan’s integration across **all three verticals** and supports its goal of becoming India’s most diversified and integrated yarn manufacturer.
#### **3. Silvassa Flagship Facility (Gujarat)**
- **50-acre freehold land**, fully integrated across polymerization, spinning, texturizing, and value-addition.
- Operates at **96% efficiency**, serving **Western and Southern India** as well as **international export markets**.
- Strategic advantages include access to ports, raw materials (PTA/MEG), cost-effective power, and labor.
- Recognized under the **Prime Minister’s Smart Cities Mission**.
---
### **Product Innovation & Sustainability**
Sanathan Textiles maintains a **dedicated in-house R&D and product development team**, focusing on functional, sustainable, and premium yarns:
#### **Key Branded Products:**
- **Sanathan Reviro**: GRS-certified **recycled polyester** from post-consumer PET bottles.
- **Born-Dyed**: **Dope-dyed yarns** eliminating post-spinning dyeing—saving **up to 80% water** and reducing chemical use.
- **S-Flex**: Proprietary **spandex-free four-way stretch yarn** for athleisure—enhancing recyclability.
- **Sanathan DryCool**: **Moisture-wicking** yarn for performance wear.
- **Cationic Dyeable Polyester (CDP)**: Enables **deep, vibrant colors** with higher dye absorption.
- **Puro Cotton Yarn**: Premium, fine-count yarns for high-end apparel and home textiles.
#### **Sustainability Initiatives:**
- **Zero Liquid Discharge (ZLD)** across all facilities.
- Use of **rice husk/agri-waste** as solid fuel in Punjab.
- **Rooftop solar installations** contributing to energy needs.
- **Process automation** and integrated systems to reduce waste and enhance energy efficiency.
- Compliance with **ISO 9001:2015, ISO 14001, ISO 45001**, and **OEKO-TEX Standard 100**.
---
### **Market Presence & Distribution**
- **Customers:** Over **14,000** (7,000 active) across India and **27 international markets**.
- **Distributors:** Strong global network of **700+ distributors** (900 reported in earlier periods).
- **Customer Retention Rate:** **92%**, driven by long-term relationships (top 10 customers averaged >10 years).
- **Export Markets:** Includes key destinations in Europe, the Middle East, Southeast Asia, and the USA.
- **Export Designation:** **Three Star Export House**.
---
### **Operations & Technology**
- **Highly automated:** Automation in **production, doffing, packaging, warehousing, and logistics**.
- Automated Warehouse Management System (WMS) for **real-time tracking** of **50,000+ SKUs**.
- Digital dashboards for **live KPI monitoring**.
- **Integrated Supply Chain:**
- Long-term supplier agreements ensure raw material stability.
- Uses **dope dyeing, SSP (Solid-State Polymerisation), and direct chip conveying** to eliminate energy-intensive steps.
- **Testing Infrastructure:** In-house labs with denier testers, strength analyzers, and color viewing booths.
---
### **Financial & Strategic Milestones**
- **IPO Success (May 2025):** Raised **INR 400 crores**, strengthening capital structure and supporting expansion plans.
- **GST Reduction (Nov 2025):** Man-made fiber/yarn tax reduced from **12% to 5%**; garment tax slab at **5% for price ≤ ₹2,500** – boosting consumer demand.
- **Revenue Mix:** Currently **95% domestic, 5% exports**, with export potential set to grow post-FSA and capacity ramp-up.