Sangam India Q4 FY26: Strong margins, higher exports, and a bigger renewable push

Q4 FY26: revenue INR880 crore, EBITDA INR98 crore (11.2% margin), PAT INR33 crore (3.7% margin). FY26: revenue INR3,243 crore, EBITDA INR329 crore (10.1% margin), PAT INR83 crore (2.5% margin).

As per the presentation: PV and cotton yarn 51%, woven fabric 18%, denim fabric 28%, garment 3% (percentages of revenue as of Q4 FY26).

Exports were INR1,167 crore in FY26 (all-time high per the presentation). Management said exports are diversified across 50 plus countries and is not dependent on one geography, and termed the momentum sustainable.

Presentation: 12 MW additional hybrid commenced March 2026 with projected annual savings of INR10 crore; 18 MW additional solar proposed commencing by Q2 FY27 with projected annual savings of INR22 crore; and an additional 20 MW hybrid project with expected COD April 2027 and expected annual savings of INR26 crore. Management also stated cumulative annual EBITDA benefit of about INR50 to INR60 crore once everything is commissioned.

Management said about 10% to 15% of power needs are currently met through renewables and expects 70% plus by around June next year (about five quarters from the April 2026 call). It said full benefits would take about four to five quarters.

The presentation states installed capacity of 45 TPD (16,020 MTPA) and that output meets about 50% of daily polyester fibre requirement. Management said this supports quality and cost control and processes about 40,000 MT of plastic waste annually.