Sportking India to add 150,000 spindles in Odisha by 2027

Sportking India plans to invest about Rs 1,000 crore in a greenfield Odisha spinning mill, adding 150,000 spindles in its first phase. The project would lift Sportking’s installed spindle count from 379,152 to about 530,000, roughly 40%, while its existing units were operating at more than 96% utilisation.

What is Sportking’s Odisha expansion plan?

Sportking’s first Odisha phase is planned to install 150,000 spindles at a greenfield site and requires an estimated Rs 1,000 crore outlay. Management says the investment will be financed through a mix of term loans and internal accruals, rather than identifying a single funding source for the entire project.

The stated rationale is to add room for production growth when the company’s existing capacity utilisation is already above 96%. Sportking also says the Odisha location will improve its ability to serve eastern Indian markets and create a more diversified geographic presence, alongside its current three manufacturing facilities.

The expansion is a spinning-capacity project, not a dye-house addition. Sportking’s present spinning assets comprise Unit I, which makes acrylic, blended acrylic-polyester and blended polyester-cotton yarn, and Unit III, which makes compact, contamination-free cotton and polyester-cotton blended yarn.

How much will Sportking’s spindle capacity increase?

Sportking’s installed spindle capacity is set to rise from 379,152 to about 530,000 after the 150,000-spindle project, according to its capacity build-up schedule. The company describes this as an approximately 40% increase over the existing count, although the simple addition produces 529,152 spindles before rounding.

The existing base is split between 66,480 spindles at Unit I and 312,672 spindles at Unit III. This means Unit III represents the larger part of the current spinning platform, while the Odisha project alone is more than twice the spindle count of Unit I.

Sportking’s presentation traces capacity additions from 6,520 spindles in 1994 through successive installations, including 68,256 in 2019 and 63,072 in 2023. It also records a 6,520-spindle unit closure in 2014 and 576 spindles added in 2025, showing that the current 379,152-spindle base reflects both additions and a closure.

When will Sportking’s Odisha mill begin operations?

Sportking says Odisha operations are to commence from the third quarter of FY27, with FY meaning the company’s fiscal year. Separately, its capacity schedule says the proposed capital-expenditure programme will take 12 to 15 months to complete and places the expanded capacity at about 530,000 spindles in 2027.

Those two disclosed timelines distinguish the operational-start statement from the overall completion estimate. The presentation does not specify whether every one of the 150,000 spindles will be operational at the stated Q3 FY27 start, nor does it provide a phased commissioning schedule within the 12-to-15-month programme.

The project follows Sportking’s 2022-25 period, when it says it operationalised more than 103,000 spindles for polyester-cotton and cotton yarn. It also says debottlenecking in FY25 improved efficiency, while the 2026-27 Odisha greenfield plan is intended to take capacity to roughly 530,000 spindles.

What operating data did Sportking report alongside the expansion?

Sportking reports utilisation above 96% across all its units, which it identifies as the immediate operating basis for adding capacity. In the first half of FY27, revenue from operations rose 22.4% year on year to Rs 1,484.7 crore, compared with Rs 1,213.2 crore in the first half of FY26.

Profitability also changed over that comparison period. First-half FY27 earnings before interest, tax, depreciation and amortisation, or EBITDA, were Rs 287.1 crore, up from Rs 134.9 crore a year earlier, while EBITDA margin increased to 19.3% from 11.1%.

Cash flow figures show Sportking generated Rs 218.7 crore of net cash from operating activities in the period ended September 2026, compared with Rs 158.5 crore in the period ended September 2025. Investing cash flow was an outflow of Rs 206.8 crore, versus Rs 25.8 crore a year earlier, and capital work-in-progress increased to Rs 117.7 crore at September 2026 from Rs 14.7 crore at March 2026.

What products and facilities form Sportking’s current manufacturing base?

Sportking operates three manufacturing facilities, including two spinning units and a dye house supporting synthetic fibre and yarn dyeing for Units I and III. Unit I has 66,480 installed spindles, while Unit III has 312,672, together accounting for the 379,152-spindle base before the Odisha project.

The company’s product range includes 100% cotton yarns, polyester-cotton blended yarns, fancy yarns, dyed yarns, and acrylic or acrylic-polyester blended yarns. Its dye house has installed processing capacity of 15 to 20 metric tonnes per day, whereas the announced Odisha capacity measure is solely in spindles.

Unit I produces acrylic, blended acrylic-polyester and blended polyester-cotton yarn. Unit III produces compact and contamination-free cotton yarn as well as polyester-cotton blended yarn, placing the proposed 150,000-spindle Odisha addition alongside substantially different existing unit sizes.

Conclusion

Sportking’s Odisha proposal is a Rs 1,000 crore capacity step that would add 150,000 spindles to a 379,152-spindle manufacturing base operating above 96% utilisation. The plan would move total capacity to about 530,000 spindles, while first-half FY27 revenue increased 22.4% to Rs 1,484.7 crore and EBITDA more than doubled to Rs 287.1 crore.

The next points to watch are the planned start of operations from Q3 FY27 and the stated 12-to-15-month capital-programme timeline, which points to 2027 for the approximately 530,000-spindle level. Sportking has disclosed term loans and internal accruals as funding mechanisms, but has not provided the funding split, a commissioning sequence, or a date for full completion of all 150,000 spindles.