S.P. Apparels Ltd (NSE:SPAL)

Q1 2026 S.P.Apparels Ltd Earnings Call Transcript

Aug 18, 2025 / 07:30 AM GMT

Release Date Price: ₹803.8 (+4.43%)

Transcript

Key Points

Positve

S.P. Apparels Ltd (BOM:540048) reported a significant revenue growth of 63.3% on a consolidated basis for Q1 FY26.
The company has successfully expanded its capacity, adding 700 machines in the current quarter, which is expected to boost production.
The UK Free Trade Agreement (FTA) is anticipated to enhance growth, with stronger order volumes and deeper engagement from existing UK customers.
The company's diversified market approach, including expansion in Europe and the UK, mitigates risks associated with US tariff hikes.
S.P. Apparels Ltd (BOM:540048) is on track to achieve its target of 10,000 machines by the end of FY27, enhancing its production capabilities.

Negative

The company faces headwinds from recent US tariff hikes, impacting certain product categories.
Gross margins have fallen due to a mix change and increased wages in Tamil Nadu, affecting profitability.
Capacity utilization is currently at 82%, below the target of 90%, due to the addition of new machines.
The Sri Lanka facility's revenue target of 200 crores for FY26 may not be met due to delays in customer clearances.
The retail segment, particularly the Angel and Rocket brand, is still in the investment phase and has not yet achieved break-even.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SPAP.NS - S.P.Apparels Ltd
Q1 2026 S.P.Apparels Ltd Earnings Call
Aug 18, 2025 / 07:30AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to SP A parallel Q1FI 26 earnings conference call hosted by Lara Securities Private Limited. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation comes clears. Should you need assistance during the conference call, please signal an operator by pressing star, then 0 on your touch to phone. Please note that this conference is being recorded.

I now hand the conference over to Mr. Trina Jinanwala from Elara Securities for our opening remarks.

Thank you and over to you, ma'am.

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Unidentified_2 [2]

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