Risk Intelligence
Appliances segment continued weakness
View Risks →Singer India delivered a 53% revenue growth to ₹161 crore in Q3 FY26, driven by a 75% surge in sewing machines across all channels and categories.
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Singer India delivered a 53% revenue growth to ₹161 crore in Q3 FY26, driven by a 75% surge in sewing machines across all channels and categories. EBITDA jumped 234% to ₹8.7 crore (adjusted ₹9.6 crore, +269%), with margin expanding ~300bps. The appliances segment remained weak, declining 7% due to muted demand and channel inventory. Management highlighted strong momentum in industrial sewing machines (+65%) and e-commerce leadership (#1 on platforms). The PM Vishwakarma government order (₹200 crore) is progressing well, with 50% awarded and balance expected. Risks include continued pressure in appliances, potential margin compression from rising commodity costs, and uncertainty around the second tranche of the government order. Overall, the core sewing machine business is firing on all cylinders, but the appliances drag and lack of formal guidance temper full-year visibility.
Appliances segment continued weakness
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Read Transcript →Overall sewing machine revenue grew 75% in Q3, driven by broad-based strength across segments and channels.
Industrial sewing machines grew over 65% in Q3, indicating market share gains despite muted industry growth.
Zigzag machines, representing future household sewing, continued strong performance with 30% YTD growth.
Despite pricing disruptions from BEE rating transition, fans achieved 38% growth in Q3.
Management aims to complete the remaining 50% of the 8-lakh machine government order by June 2026, with the balance 4-lakh tranche expected to be a...
Appliances revenue declined 7% with gross margin contraction of 120bps due to muted demand, blocked trade inventory, and rising commodity costs.
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