Banswara Syntex’s Fabric Revenue Up, Yarn and Garment Revenue Down
Banswara Syntex Ltd reported a total income of Rs 275 crore for the quarter, with an EBITDA of Rs 17 crore, PBDT of Rs 13 crore and a PAT of Rs 1 crore. The Yarn division’s revenue fell to Rs 100 crore, while the Fabric division saw an increase to Rs 113 crore. In contrast, the Garment division’s revenue decreased to Rs 53 crore.
Export demand showed improvement in regions such as the UAE, Australia and France, although major markets like Europe and the USA remained slow. The domestic market continued to face pricing pressures and softer demand.
The standalone profit and loss statement for Q1FY25 reveals a revenue of Rs 271 crore from operations, down 10.2% year-on-year. Total income also decreased by 10.2% to Rs 274.7 crore. EBITDA dropped by 31.4% year-on-year to Rs 20.8 crore and PAT fell by 89.8% to Rs 1 crore.
Ravindra Kumar Toshniwal, Managing Director, provided insights into the company’s performance for Q1FY25. He highlighted that while the Fabric vertical performed well, showing a 10% year-on-year revenue increase due to growth in the export market, the rest of the divisions experienced subdued growth. The Yarn division saw a significant 25% decline in sales year-on-year, primarily due to labour shortages and weaker demand for synthetic yarns. Additionally, the Garment division’s revenue dropped by 14% compared to the previous year, affected by sluggish demand from both domestic and global retailers.
