Just when textile stocks were busy blaming exports, Europe, and “global headwinds,” Borana casually posted a 42% revenue jump. Apparently, synthetic grey fabric doesn’t read macro headlines.
While others debated demand recovery, Borana doubled down on looms, renewable energy, and capacity math that would make an infra company blush. And yes — margins expanded too.
Net debt almost nil. Capacity doubling plans. Renewable savings of ₹20 crore annually.
For a “maiden earnings call,” this wasn’t exactly shy.
But here’s the fun part — the real story isn’t just growth. It’s how they plan to double looms to 2,000 by FY28 without equity dilution.
Read on. The fabric gets thicker. 😏
2. At a Glance
Revenue up 42% YoY – Polyester doesn’t complain, it compounds.
EBITDA up 51% YoY – Operating leverage finally showed up for work.
EBITDA Margin 24.32% – Grey fabric, but margins looking premium.
PAT up 63% YoY – Profits didn’t just grow, they sprinted.
Capacity Utilisation 82–83% – Machines almost sweating.
Net Debt Near Zero – CFO sleeping peacefully.
Renewable Savings ₹20 Cr Expected – Sun and wind joining the payroll.
3. Management’s Key Commentary
“We operate at a scale currently unmatched among companies with similar product focus.” (Translation: We’re the big fish in a pond full of small looms.) 😏
“Revenue for Q3 stood at ₹111.36 crore, up 42% YoY.” (Translation: Demand isn’t the problem. Execution isn’t either.)
“EBITDA margin stood at 24.32%.” (Translation: Grey fabric, colourful profitability.)
“We are planning to double capacity to 2,000 looms by March 2028.” (Translation: Think bigger warehouse. Much bigger.) 🚜
“Total investment for doubling capacity will be ₹350–400 crore.” (Translation: Capex party. Bring internal accruals.)
“Equity dilution is not at all coming.” (Translation: No share supply surprise — debt and cash will do the heavy lifting.)
“Renewable energy projects will save around ₹18–20 crore annually.” (Translation: Sunlight = EBITDA expansion.) ☀️
“Value-added products are around 20–25% of capacity.” (Translation: Not just volume, some spice in the mix.)
