🧵 Sanathan Textiles – Yarn Maker or ₹1,587 Cr Construction Project?
Date of Publishing -
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🧠 At a Glance
Sanathan Textiles Ltd is one of India’s key yarn exporters in polyester, cotton, and technical textiles. But despite ₹3,000 Cr in revenue, earnings growth has stagnated, ROCE has slipped to 10%, and the stock is now valued at a reasonable 26x P/E. Oh, and it’s sitting on ₹1,587 Cr worth of CWIP. Is this a textile player or a civil contractor?
✈️ 1. Introduction with Hook
What do you call a company that:
Makes yarns for your undies and ropes for your cranes
Grows sales, shrinks margins
Suddenly quadruples its borrowings
And has ₹1,500 Cr in “under construction” assets?
You call it Sanathan Textiles — the polyester player that spun an IPO and now wants to weave itself into a mega capex story.
🏭 2. WTF Do They Even Do?
Sanathan manufactures:
🧵 Polyester Yarn (core segment)
🧶 Cotton Yarn
👷 Technical Textile Yarns used in seatbelts, ropes, geo-grids, etc.
They serve:
2,500+ customers across apparel, luggage, PPE, furnishings, and auto textiles.
Large B2B exports – this isn’t your roadside boutique yarn.
