Sanathan Textiles Ltd(SANATHAN)

NSE: SANATHANBSE: 544314

₹ 502.4+0.31%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 4,240 crNext results: 4 Nov 2026Website: www.sanathan.comUpdated: 24 Oct 2026

About

Sanathan Textiles Ltd manufactures polyester filament yarn, cotton yarn, and technical textile yarn from two facilities in Silvassa (Dadra & Nagar Haveli) and Punjab. The Punjab plant uses a 15-year raw material supply arrangement with IOCL Panipat, while Silvassa sources PTA from both domestic and imported sources.^[1][2][3]

Business segments

Silvassa facility (standalone) generates ~₹3,000 cr revenue, of which ~₹400 cr comes from cotton yarn, ~₹100 cr from technical textile yarn, and the balance from polyester filament yarn.^[4]
Punjab facility (Sanathan PolyCot) contributed ~₹550 cr revenue in Q1 FY27, producing entirely polyester filament yarn using PTA and MEG from IOCL Panipat.^[5][1]

Manufacturing capacity and utilisation

Total installed capacity stands at 4,79,000 MTPA across both facilities after Punjab commissioning, up from 2,23,000 MTPA prior to it.^[1]
Punjab Phase 1 polymerisation capacity is 700 TPD; utilisation was ~80% in Q1 FY27, with management guiding 85 - 90% in Q2 FY27 and 95 - 96% in Q3 FY27.^[5]
Silvassa operated at ~95% capacity utilisation across all three yarn verticals (polyester, cotton, technical textiles) throughout FY26, producing 2.31 lakh MT.^[2]
Technical textiles capacity at Silvassa ran at 94% utilisation in Q1 FY27 on the 9,000 MTPA base; installation to double it to 18,000 MTPA is complete and commercial production is imminent.^[5]

Key operating volumes and realisations

Consolidated yarn sales reached 1 lakh MT in Q1 FY27: ~54,000 MT from Silvassa and ~46,000 MT from Punjab.^[5]
Silvassa produced 2.31 lakh MT and sold 2.28 lakh MT in FY26.^[2]
Average polyester yarn realisation was ₹110.75/kg and consolidated average realisation was ₹125/kg in Q2 FY26.^[1]
Raw material inventory stood at 12 - 13 days (polyester) and finished goods at ~7 days (cotton) at the end of Q1 FY27.^[5]

Raw materials and supply

Punjab sources all PTA and MEG from IOCL Panipat under a 15-year supply arrangement.^[1]
Silvassa sources ~50% PTA from imports and ~50% domestically; GAIL's domestic PTA plant commissioning in Q2 FY27 and IOCL Paradip by end CY26 are expected to progressively reduce import dependence.^[5][4]
Buyer deferrals through April - May 2026 were caused by surging PTA, MEG, and cotton prices; conditions began normalising in June 2026.^[5]

Customers and distribution

Indirect export exposure to the US is ~5 - 6% of consolidated revenue; ~25% of sales go to customers who export their finished products.^[1]
Punjab facility has been onboarding new customers in the North India textile market; management reports no placement challenge for Phase 1 or Phase 2 volumes.^[2]

Expansion and capex

Punjab Phase 2 (~250 TPD additional, taking total to ~950 TPD) is confirmed for commissioning in Q1 FY28, with full ramp expected within 1.5 - 2 quarters; capex guided at ~₹125 - 150 cr.^[5][4]
Greenfield cotton yarn facility at Dhar, MP (PM MITRA Park) planned with 72,500 spindles and ~₹400 cr capex; expected incremental revenue of ₹350 - 375 cr at 0.8 - 0.85x asset turn; construction to begin post-monsoon 2026, production in 2H FY28.^[5][2]
Long-term renewable energy deal signed with Serentica Renewables to supply ~70% of Punjab's annual energy via dedicated wind and solar; facilities to be commissioned in phases over FY27 - FY28 with ₹48 cr equity infusion planned.^[2]
Technical textile capacity expansion at Silvassa (9,000 to 18,000 MTPA) funded through ~₹80 cr internal accruals; ~7,500 MT incremental volumes targeted in FY27.^[4][5]

Financial guidance and targets

FY27 consolidated EBITDA guidance upgraded to ₹520 - 540 cr (from prior >₹500 cr), with consolidated revenue targeted at ₹5,600 - 5,700 cr (Silvassa ~₹3,100 cr + Punjab ~₹2,600 cr).^[5][2]
Peak revenue of ₹7,500 - 7,700 cr targeted by end of FY28 once Punjab Phase 2 and the MP cotton expansion are fully operational.^[2]
Punjab polyester filament yarn facility is targeting EBITDA of ~₹30,000/ton in FY28.^[5]

Market Cap

₹4,240 Cr

High / Low

₹570 / 352

Stock P/E

76.8

Price / Book

2.5

Book Value

₹222

EPS

₹9.2

No. of Shares

8.44 Cr

ROCE

6.7%

ROE

4.2%

OPM

5.5%

Debt / Equity

0.79

Sales

₹3,811 Cr

Net Profit

₹77 Cr

Promoter holding

78.6%

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