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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹1,142 Cr
verified against source
Revenue YoY
-9.1%
reported change
EBITDA
₹85 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
RSWM reported Q4 FY26 revenue of ₹1,142 crore, down 9.1% YoY due to weak export demand and closure of Chhatta spinning. However, EBITDA grew 8.5% YoY to ₹85 crore with margin expanding 115 bps to 7.4%, driven by cost controls and product mix optimization. Full-year PAT turned positive at ₹52 crore vs a loss of ₹41 crore last year, aided by a ₹23 crore deferred tax reversal. Management highlighted improved utilization potential of 7-10% across denim, melange, and knitting segments as geopolitical headwinds ease. The company is investing ₹427 crore in a green PET project (B2B) with 70% debt financing. Risks include elevated gas costs due to Gulf tensions and lag in passing on input cost increases to customers.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects current quarter performance to be slightly better or equal to Q4 FY26 EBITDA of ₹85 crore.
- The 920-ton capacity expansion, including printing, is expected to be fully implemented in the third quarter of FY27.
- Construction starts mid-May 2026; first quarter of next financial year targeted for operationalization.
- Inventory reduced to ₹620 crore from ₹730 crore; trade receivables to ₹631 crore from ₹696 crore. Continued focus on optimization.
Risks flagged
- Gas availability improved but costs have risen significantly, impacting denim margins. Passing on cost increases to customers takes time.
- Multiple cost increases (gas, dyes, freight, yarn) cannot be immediately passed to customers, compressing spreads in denim and knitting.
- Though direct US exposure is limited, indirect impact through garment exporters has affected order book recovery, expected to take two more quarters.
- The ₹427 crore project is 70% debt-financed (₹300 crore loan), raising leverage concerns. Management did not address equity dilution risk.
Key quotes
- The turnaround which we are seeing is more because of internal operations than market led.
- Our focus has been on improving the quality of earnings rather than chasing only volumes at a cost.
- We are not emphasizing any close of spindles or loom or other operations in this quarter and next quarter... that journey is largely done.
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