Banswara Syntex Ltd(BANSWRAS)

NSE: BANSWRASBSE: 503722

₹ 96.4-1.93%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 330 crWebsite: www.banswarasyntex.comUpdated: 24 Oct 2026

About

Banswara Syntex makes spun synthetic blended yarn, wool and wool-mix yarn, spun synthetic and worsted fabrics, cotton and linen fabrics, and readymade garments. Its plants are in Banswara (Rajasthan), Daman and Surat. The company reported revenue of 1356.28 (Rs cr) for FY26. Fabric and garments made up 66% of revenue in FY26, compared with 63% in FY25.^[1][2]

Business segments

Fabric: revenue of Rs.569 cr in FY26, up 5% YoY and a record for the division. Q1 FY27 revenue was Rs.147 cr, up 25% YoY.^[3]
Yarn: revenue of Rs.449 cr in FY26, down 2% YoY. Q1 FY27 revenue was Rs.96 cr, down 12% YoY.^[3]
Garments: revenue of Rs.324 cr in FY26, up 18% YoY. Q1 FY27 revenue was Rs.69 cr, down 8% YoY, after West Asia logistics problems delayed dispatches.^[3]
Fabric and garment divisions together made up 66% of revenue in FY26, compared with 63% in FY25.^[3]
Tesca Textiles is a 40%-owned automotive textiles associate, with about Rs.100 cr turnover and about Rs.10 cr PAT in FY26; Banswara's share of profit was about Rs.4 cr.^[3]

Products and brands

Products: spun synthetic blended yarn, wool and wool-mix yarn, spun synthetic and worsted fabrics, cotton and linen fabrics, readymade garments, shirting and technical fabrics (FY25).^[1]
Premium fabric categories (bi-stretch, poly-rich blends and wool blends) took a larger share of the fabric mix in Q1 FY27.^[4]
As of Q3 FY26, wool-blended fabrics were about 4 lakh metres a month and stretch fabrics 12-14 lakh metres a month, out of total fabric sales of 23-24 lakh metres a month.^[5]
Jackets and suits were 26% of garment revenue and 14% of garment volume in Q3 FY26, up from 16% of revenue and 7% of volume in Q2 FY26.^[5]
Fabric collections Simone Federico, Figli and Siro sell in Middle East and Asian markets (Q2 FY26).^[6]
D2C brand One Mile had sales of about Rs.15 lakh a month as of Q4 FY26.^[3]
About 30-31% of yarn production was value-added as of Q2 FY26.^[6]

Plants and operations

Banswara, Rajasthan (Dahod Road Industrial Area) has five units: BSL, BTM, BFL, BJF and a thermal power plant (FY25).^[1]
Four readymade garment units in Daman operate under the name Banswara Garments (FY25).^[1]
Units in Surat, Gujarat, include one in the GIDC Apparel Park SEZ at Sachin (FY25).^[1]
Most raw materials are petroleum by-products, bought locally and sometimes imported (FY25).^[1]
FY25 production: yarn 206 Lakh Kgs, fabric 232 Lakh Mtrs, garments 37 Lakh Pcs; garment production fell 4% on subdued demand.^[1]

Utilisation and volumes

Fabric utilisation was 80% in Q1 FY27; 76% in FY26 against 77% in FY25.^[4]
Yarn utilisation was 70% in Q1 FY27, cut by labour shortages; 77% in FY26 against 83% in FY25.^[4]
Garment utilisation was 69% in Q1 FY27; 72% in FY26 against 46% in FY25.^[4]
Fabric sales volume was 59 lakh metres in Q1 FY27, up 18% YoY.^[4]
Yarn sales volume was 36 lakh kgs in Q1 FY27, down 29% YoY; FY26 volume was 194 lakh kgs, down 6% YoY.^[4]
Garment sales volume was 8 lakh pieces in Q1 FY27, down 15% YoY; Q4 FY26 volume was 11 lakh pieces, up 21% YoY.^[4]
Jacket output has averaged about 600,000 a year; FY27 target is 800,000-900,000, with Q1 FY27 output of 135K units.^[4]

Customers and exports

Exports were 48% of company revenue in Q1 FY27.^[4]
Exports were about 60% of garment sales in Q1 FY27, against about 20% six to eight years earlier; management expects this to approach 70%.^[4]
Garment customers C&A and NEXT were added in Q1 FY27, and business with Mango, Celio and Walmart increased.^[4]
Walmart, a new customer, added about Rs.15 cr of garment revenue in Q4 FY26.^[6]
Middle East sales were about Rs.100 cr as of Q4 FY26; the company expects a Rs.10-20 cr fall in FY27.^[3]
UK garment exports are Rs.20-25 cr; the target is at least Rs.50 cr in FY28.^[4]
Revenue from outside India was ₹56,947.92 lakh in FY25 vs ₹53,188.67 lakh in FY24.^[1]

Expansion and capex

FY27 capex of Rs.140 cr is planned and sanctioned, covering fabric, garment and common infrastructure.^[4]
Surat SEZ machinery to be debonded for domestic use by November-December 2026, with production from April 2027; about Rs.50 cr investment targets Rs.200 cr additional revenue.^[4]
About 20-25% capacity addition planned in both garments and fabric in FY28; yarn capacity to be held or grown slightly.^[4]
Target of 50% value-added yarn, mainly by sending speciality yarns to its own fabric division (Q2 FY26).^[6]
Worsted spinning is being upgraded to European machinery, with ring frames to be installed in FY26; modernisation spend was ₹14694 Lakhs in FY25 vs ₹10158 Lakhs in FY24.^[1]
The company applied to upgrade its 33 KV incoming power supply through AVVNL to 132 KV (FY25).^[1]

Recent developments

The India-UK Free Trade Agreement took effect on 15 July 2026, removing UK import duties on Indian textiles and apparel.^[4]
The EU FTA is expected to come into operation by end-December 2026 or early January 2027.^[4]
In Q1 FY27 the company kept FY27 revenue guidance at Rs.1,450-1,500 cr and set a full-year EBITDA margin target of 12%.^[4]
Net debt was Rs.472.38 cr in Q1 FY27, against Rs.483 cr at March 2026.^[4]
India Ratings affirmed the company's rating and revised the outlook to Negative (FY25 annual report).^[1]

Market Cap

₹330 Cr

High / Low

₹143 / 93

Stock P/E

8.9

Price / Book

0.6

Book Value

₹171

EPS

₹9.1

No. of Shares

3.42 Cr

ROCE

9.0%

ROE

5.5%

OPM

6.5%

Debt / Equity

0.81

Sales

₹1,356 Cr

Net Profit

₹31 Cr

Promoter holding

54.1%

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