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Revenue
₹375 Cr
verification pending
Revenue YoY
31%
reported change
EBITDA
₹52 Cr
latest reported figure
Source
bse pending
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
GHCL Textiles delivered a strong Q4 FY26 with revenue of ₹375 crore (+31% YoY) and EBITDA of ₹52 crore (11.7% margin). The improvement was driven by a sharp recovery in spreads (from ₹123/kg in Q3 to ₹148/kg in Q4) on the back of robust demand from domestic and export markets, including a temporary surge from China. The new 25,000-spindle unit operated at 98%+ utilization, and the knitting machine expansion is on track. Management expects spreads to sustain in Q1 FY27 and reiterated its medium-term revenue target of ₹2,000 crore with 15-18% EBITDA margin by FY29-30. Key risks include geopolitical volatility (US-Iran conflict) impacting energy costs and logistics, and the sustainability of cotton price pass-through in the value chain.
Colored figures show movement against the previous available record.
Guidance to track
- Management reiterated its medium-term revenue target of ₹2,000 crore, driven by vertical integration into fabric and processing.
- Management expects to achieve 15-18% EBITDA margin through product mix optimization, vertical integration, and cost efficiencies.
- Planned capex includes ₹35 crore for 10 MW ground solar, ₹15 crore for knitting machines, and land investment in PMRA textile park.
- Fabric revenue share is targeted to increase from 12% in FY26 to 15% in FY27, driven by in-house knitting capacity.
Risks flagged
- The US-Iran conflict has disrupted trade routes and elevated logistics costs; higher fuel prices impact synthetic portfolio and fabric manufacturing.
- While spreads have improved, the ability to pass on higher cotton prices to downstream customers remains uncertain, especially if inflation persists.
- Working capital days have increased to ~135-140 days due to strategic cotton inventory buildup, impacting ROE. Management expects normalization to 110-120 days.
- The temporary surge in yarn demand from China has tapered since March, which could affect volume growth if other markets do not compensate.
Key quotes
- Our strategic priorities are broadening our value added portfolio, deepening vertical integration, and sustaining operational excellence.
- We are not looking at a buyback but we are looking to deploy this cash... the remaining 350 crores odd is to be deployed in next 3 years primarily towards fabric and processing.
- The big risk is particularly from an inflation point of view... whether the yarn prices can continue to rise, that's a big question mark.
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