Banswara Syntex Limited (NSE: BANSWRAS) is a prominent Indian publicly-listed textile company with a rich heritage dating back to 1976, when it was founded by Mr. R. L. Toshniwal in Banswara, Rajasthan.<\/p>\n\n\n\n
It operates as a vertically integrated textile manufacturer, producing a broad range of products, including yarns, fabrics, and readymade garments. Over the years, the company has expanded its capabilities to serve both domestic and international markets, exporting to more than 50 countries across the US, Europe, the Middle East and Asia.<\/p>\n\n\n\n
Banswara Syntex is known for its specialized fiber-dyed yarns and diverse textile offerings, servicing major global fashion brands and meeting technical textile requirements as well. The company emphasizes innovation, sustainability (including captive power generation and moves toward renewable energy), and quality, earning certifications such as ISO 9001 and ISO 14001, and recognition as a Four Star Export House.<\/p>\n\n\n\n
Headquartered in Banswara, Rajasthan, with corporate and marketing offices in Mumbai and Delhi, and garment facilities in Surat and Daman, Banswara Syntex continues to be a significant player in India\u2019s textile industry.<\/p>\n\n\n\n
Total income for Q3 FY26 stood at \u20b9343.3 crore, compared to \u20b9341.0 crore in Q3 FY25 and \u20b9347.4 crore in Q2 FY26, reflecting a modest 1% year-on-year growth. EBITDA (including other income and excluding OCI) increased to \u20b942.0 crore in Q3 FY26 from \u20b936.5 crore in Q3 FY25 and \u20b933.6 crore in Q2 FY26, marking a strong 15% YoY growth. Profit After Tax (PAT) improved significantly to \u20b913.2 crore in Q3 FY26 compared to \u20b910.2 crore in Q3 FY25 and \u20b97.0 crore in Q2 FY26, registering a healthy 30% YoY growth.<\/p>\n\n\n\n
For the nine months ended FY26, total income stood at \u20b91,000.4 crore, up from \u20b9960.9 crore in 9M FY25, reflecting a 4% year-on-year increase. EBITDA for 9M FY26 rose to \u20b997.6 crore, compared to \u20b985.7 crore in the corresponding period last year, registering a 14% YoY growth. Profit After Tax (PAT) for 9M FY26 stood at \u20b918 crore, compared to \u20b916.3 crore in 9M FY25, representing a steady improvement over the previous year.<\/p>\n\n\n\n
The Yarn division reported revenue of \u20b9114 crore in Q3 FY26, supported by steady sales volume of 48 lakh kgs and 81% capacity utilization. Despite muted demand conditions, revenues remained stable due to improved realizations and a higher share of value-added products, reflecting better pricing discipline and an improved product mix.<\/p>\n\n\n\n
The Fabric division recorded revenue of \u20b9150 crore, with sales volume of 59 lakh meters and 80% capacity utilization during the quarter. Operating performance remained stable, with a stronger focus on wool-blended and stretch fabrics despite global uncertainties and subdued demand. Regional performance was well diversified, as improved traction in the U.S. and Far East offset softness in select international markets, while the U.K. and domestic markets performed broadly in line with expectations.<\/p>\n\n\n\n
Garment revenue increased 4% year-on-year to \u20b973 crore, with sales volume of 8 lakh pieces and 65% capacity utilization. The division delivered steady performance, with momentum improving throughout the year and strengthening in the final quarter. Jackets and suits saw a notable rise in contribution, accounting for 14% of volumes and 26% of revenue, compared to 7% of volumes and 16% of revenue in Q2 FY26, indicating a favorable shift toward higher-realization products. Going forward, the focus remains on export-led growth supported by strong brand relationships and encouraging customer engagement.<\/p>\n\n\n\n
Q3 witnessed sequential improvement in operating performance, driven by disciplined cost management and a higher contribution from value-added products despite subdued demand. The company continued to strengthen its global presence through deeper engagement with international customers and selective expansion in key markets, improving business visibility for upcoming quarters. Profitability improved during the quarter, supported by product mix optimization and enhanced operational efficiency amid competitive market conditions.<\/p>\n\n\n\n
The company\u2019s net debt increased from \u20b9361 crore in March 2023 to \u20b9495 crore as of December 2025. Specifically, net debt rose by \u20b939.03 crore to \u20b9495.19 crore as on 31st December 2025, primarily due to ongoing capital expenditure (capex) and higher working capital requirements during the period.<\/p>\n\n\n\n
The Debt-Equity ratio remained stable at 0.7x in March 2023 and March 2024, increased to 0.8x in March 2025, and further rose to 0.9x as of December 2025 (9M FY26). The ratio is calculated as Total Debt divided by Total Shareholders\u2019 Funds, with total debt including foreign bill discounting classified under contingent liabilities in the balance sheet.<\/p>\n\n\n\n
The Indian domestic textiles and apparel market is expected to grow at approximately 10\u201311% CAGR over FY20\u2013FY26E, reaching around $190 billion by FY26E. After facing significant challenges post COVID-19, including retail slowdown, logistical disruptions, manufacturing shutdowns, and order cancellations, the industry witnessed a steady recovery following the easing of lockdowns.<\/p>\n\n\n\n
The recovery trend varied across categories, with weaker demand for occasion and formal wear, while casual wear, loungewear, and innerwear saw stronger demand driven by the work-from-home culture. Growth is supported by rising consumption across apparels, home textiles, and technical textiles, reflecting improving domestic demand and structural industry expansion.<\/p>\n\n\n\n
Indian textiles and apparel exports are projected to grow at approximately 11% CAGR over FY20\u2013FY26E, reaching about $65 billion by FY26E. Export growth is expected to be driven by improved global demand, supply chain realignments, and India\u2019s strengthening position as a preferred sourcing destination in the global textile value chain.<\/p>\n","protected":false},"excerpt":{"rendered":"
About Banswara Syntex Limited Banswara Syntex Limited (NSE: BANSWRAS) is a prominent Indian publicly-listed textile company with a rich heritage dating back to 1976, when it was founded by Mr. R. L. Toshniwal in Banswara, Rajasthan. It operates as a vertically integrated textile manufacturer, producing a broad range of products, including yarns, fabrics, and readymade […]<\/p>\n","protected":false},"author":2389,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1941],"tags":[13829],"class_list":["post-180363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock-analysis","tag-textile-industry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":151451,"url":"https:\/\/alphastreet.com\/india\/banswara-syntex-ltd-q1fy24-49-fall-in-profits\/","url_meta":{"origin":180363,"position":0},"title":"Banswara Syntex Ltd Q1FY24; 49% fall in Profits","author":"Divyansh_Kasana","date":"August 7, 2023","format":false,"excerpt":"Banswara Syntex Limited is engaged in the business of manufacturing synthetic blended yarn, wool and wool mixed yarn, fabrics and readymade garments. Financial Results: Banswara Syntex Ltd reported Revenues for Q1FY24 of \u20b9302.67 Crores down from \u20b9355.48 Crore year on year, a fall of 14.86%. Total Expenses for Q1FY24 of\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-258.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-258.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-258.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-258.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-258.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-258.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":152493,"url":"https:\/\/alphastreet.com\/india\/aym-syntex-ltd-q1fy24-19-fall-in-revenue\/","url_meta":{"origin":180363,"position":1},"title":"AYM Syntex Ltd Q1FY24; 19% fall in Revenue","author":"Divyansh_Kasana","date":"August 10, 2023","format":false,"excerpt":"AYM Syntex is a leading speciality synthetic yarns manufacturer with world class manufacturing technology for multipolymer yarns. It is the largest Indian manufacturer of Bulk Continuous Filament Yarns and a leading Multipolymer Yarn dyeing house in Asia. Financial Results: AYM Syntex Ltd reported Revenues for Q1FY24 of \u20b9320.00 Crores down\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-607.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-607.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-607.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-607.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-607.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-607.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":126175,"url":"https:\/\/alphastreet.com\/india\/ipo-alert-nandan-terry-is-all-set-to-go-public\/","url_meta":{"origin":180363,"position":2},"title":"IPO Alert: Nandan Terry is all set to go public","author":"Nishad","date":"December 20, 2021","format":false,"excerpt":"Global textile and apparel trade has grown at a CAGR of 4% since 2005 and has reached the level of trade at $823 billion, while the apparel industry is the most traded category with a share of 57% of total trade in T&A. Global T&A is expected to reach $1\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/alphastreet.com\/india\/category\/ipo\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":146834,"url":"https:\/\/alphastreet.com\/india\/banswara-syntex-limited-banswras-q4-fy23-earnings-concall-transcript\/","url_meta":{"origin":180363,"position":3},"title":"Banswara Syntex Limited (BANSWRAS) Q4 FY23 Earnings Concall Transcript","author":"IRS_INDIA","date":"May 21, 2023","format":false,"excerpt":"Banswara Syntex Limited (NSE:BANSWRAS) Q4 FY23 Earnings Concall dated May. 16, 2023. Corporate Participants: Ravi Toshniwal\u00a0--\u00a0Managing Director Rahul Bhadauria\u00a0--\u00a0Senior Vice President & Head of Business Analysts: Keshav\u00a0--\u00a0RakSan Investors -- Analyst Nirbhay Mahawar\u00a0--\u00a0N Square Capital -- Analyst Surya Narayan Nayak\u00a0--\u00a0Sunidhi Securities -- Analyst Naitik Mohata\u00a0--\u00a0Sequent Investments -- Analyst Navneet\u00a0--\u00a0Individual Investor --\u2026","rel":"","context":"In "Earnings Call Transcripts"","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"Earnings Conference Call Transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1 1x, 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Managing Director Kavita Gandhi \u2014 Chief Financial Officer Analysts: Raman KV \u2014 Analyst Karthik Naira \u2014 Analyst Jani Shah \u2014 Analyst Nirbhay \u2014 Analyst Ranit \u2014 Analyst Hitesh Shandhawa \u2014 Analyst\u2026","rel":"","context":"In "Earnings Call Transcripts"","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=525%2C300&ssl=1 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