Sangam India Ltd. (SIL), one of the foremost producers of PV dyed yarn and seamless apparel, recently announced a stellar rise of 483 percent in its PAT to Rs. 44 cr in the quarter ended December 2021 as against Rs. 7 cr in Q3 FY21. The Company also recorded a 47 percent YoY jump in revenues at Rs. 646 cr as compared to Rs. 438 cr in Q3 FY21.
Total sales recorded for the 9 months period ended stands at Rs. 1691 cr with Exports contributing 36 percent at Rs. 607 cr and 64 percent from the Domestic markets at Rs. 1084 cr. With this, the company’s exports have recorded an impressive jump of 114 percent on a YoY basis. The stellar growth of the company has positively impacted its earnings per share which increased to Rs. 10.05 in Q3 FY 22, a growth of 529 percent YoY. SIL’s EBITDA has grown from Rs. 44 cr in Q3FY21 by 79 percent YoY to Rs. 80 cr in Q3FY22.
In the previous quarters, the company had approved the plan of 137.25 cr brown field expansion in the cotton yarn segment. The project implementation is on schedule and would eventually increase its cotton production capacity by 10,500 MT per annum. This would increase the company’s overall cotton production to 33,500 MT per annum.
The company’s board has also approved expansion plans in its cotton yarn vertical worth Rs. 137.25 cr along with Rs. 157 cr for an expansion project in Seamless Garments at Sangam Ventures Ltd. (a wholly owned newly incorporated Subsidiary Company dated 03.12.2021).
