S. P. Apparels Limited — Investor Meet, 21-08-2025: Analysts/Institutional Investor Meet/Con. Call Updates

S.P. Apparels reported strong Q1 FY26 consolidated revenue of INR 405 crore (+63.3% YoY) and PAT of INR 20.7 crore. Standalone revenue grew 34.5% to INR 287 crore. Gross margins compressed due to product mix and new capacity ramp-up.

Management is re-strategizing due to US tariff changes, shifting some US business to Sri Lanka and diversifying Young Brand to Europe/UK markets. They are expanding capacity, targeting 2,000 machines in Sri Lanka by March 2026 and an overall 7,800 machines by FY26 end. The retail division (Angel & Rocket) is on track for break-even. Management expressed confidence in achieving growth and profitability targets despite market headwinds.