Sangam India Q3 Revenue jumps by 47% YoY

24 Jan 2022 , 12:48 PM

Sangam India Ltd., one of the leading manufacturers of PV dyed yarn and seamless apparel, announced its result for the quarter ending December 2021. The company reported a stellar growth of 483% YoY in its PAT at Rs 44 crores for Q3 FY’22, as against Rs 7 crores for the previous corresponding quarter.

Sangam India’s share is currently trading at Rs387.85 down by Rs5.05 or 1.29% from its previous closing of Rs392.90 on the BSE.

Sangam India’s revenue for the quarter ending December 2021 stood at Rs 646 crores for Q3 FY’22 against Rs 438 crores for the quarter ending December 2020, reflecting a growth of 47% YoY.

The company reported total sales of Rs 1691 crores including exports of Rs 607 crores for the 9M period ending December 2021, showing a growth of 114% YoY.

SIL’s EBITDA has grown from Rs 44 crores to Rs 80 crores for the Q3 FY’22, showing a growth of 79% YoY.

The company has approved a brownfield expansion plan in the cotton yarn segment worth Rs 137.25 crores in the previous quarters. The company is in the process of implementing and would eventually increase its cotton production capacity by 10,500 MT per annum, increasing the company’s overall cotton production capacity to 33,500 MT per annum.

Sangam India Ltd. was established in 1984 and is among the top producers in PV dyed yarn, cotton, and ready-to-stitch fabric. The group has also introduced a garment manufacturing facility with 54 seamless knitting machines that can produce 5.4 million pieces per annum.