S.P. Apparels Ltd — earnings calls

S.P. Apparels reported broadly stable consolidated revenue for Q1 FY27 at Rs 401 crores versus Rs 403 crores a year earlier, while consolidated EBITDA rose 15.9% year-on-year to Rs 61.4 crores with margin improving to 15.3%. Management attributed the flat top line to U.S. tariff-related order slowness and shipment timing shifts, while profitability gains were driven by better operating efficiency and product mix. The company reiterated its FY27 consolidated revenue guidance of Rs 2,000 crores, citing expected second-half acceleration from customer order inflows, the India-U.K. FTA, and capacity ramp-up.

S.P. Apparels reported FY26 consolidated revenue of Rs 1,578 crores, up 13.2% year-on-year, with EBITDA of Rs 217 crores, up 16%, though Q4 revenue and EBITDA declined year-on-year due to softer export volumes from US tariff disruption and Strait of Hormuz-related shipping delays. Management described the Garment division, Young Brand Apparel, SPUK and Retail segment performances separately, noting SPUK and Retail both achieved positive EBITDA during the year. Management also discussed Sri Lanka factory ramp-up, Salem and Sivakasi expansion plans, and outlined a consolidated FY27 revenue target with a Garmenting division EBITDA margin guidance.