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RSWM - RSWM Ltd

📊 NSE: RSWM 🏢 Textiles - Cotton/Blended 📅 Last Updated: 12/14/2025 12:29

📢 Recent Corporate Announcements

RSWM Reports Zero Re-lodgement Requests for Physical Share Transfers in Feb-Mar 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 13 Mar 2026, 02:44 PM

RSWM Limited has submitted a status report regarding the re-lodgement of transfer requests for physical shares as per SEBI guidelines. For the reporting period of February 5, 2026, to March 4, 2026, the company received zero requests from shareholders. This filing is a standard regulatory requirement following a SEBI circular issued in January 2026. There is no impact on the company's financial performance or operational outlook.

Zero (0) requests received for re-lodgement of physical share transfers during the period.
Report covers the specific window from February 5, 2026, to March 4, 2026.
Compliance filing as per SEBI Circular dated January 30, 2026.
Registrar MCS Share Transfer Agent Limited confirmed no processing or rejections occurred.

💡 No action is required from investors as this is a routine administrative disclosure. Focus remains on the company's core textile business performance.

RSWM Announces Resignation of Denim Business Head; Ashish Bhatnagar Appointed Deputy Business Head

🟡 NEUTRAL ⭐ 5/10

MANAGEMENT 📅 24 Feb 2026, 06:11 PM

RSWM Limited has announced the resignation of Shri Rajesh Singh, the Business Head of its Denim division, effective February 28, 2026. To ensure leadership continuity, the company has promoted Shri Ashish Bhatnagar, the current Chief Marketing Officer for Denim, to the role of Deputy Business Head and Senior Management Personnel starting March 1, 2026. Mr. Bhatnagar brings over 25 years of industry experience and has been with RSWM since 2019. This transition appears to be an internal succession plan to manage the Denim business segment following the departure of the previous head for other career opportunities.

Shri Rajesh Singh resigned as Business Head - Denim effective from the close of business hours on February 28, 2026.
Shri Ashish Bhatnagar designated as Deputy Business Head - Denim and Senior Management Personnel effective March 1, 2026.
Newly appointed Deputy Business Head Ashish Bhatnagar has over 25 years of industry experience and an MBA in Marketing.
Mr. Bhatnagar has been associated with RSWM Limited since 2019, previously serving as CMO for Domestic and Export Marketing (Denim).
The management change was approved by the Board of Directors via circular resolution on February 24, 2026.

💡 Investors should monitor the operational performance of the Denim division during this leadership transition. The internal promotion of a veteran with 25+ years of experience suggests a focus on stability and continuity in marketing and business operations.

RSWM Seeks Approval for MD Re-appointment and JMD Remuneration Revision

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 24 Feb 2026, 04:33 PM

RSWM Limited has issued a postal ballot notice to seek shareholder approval for the re-appointment of Shri Riju Jhunjhunwala as Managing Director for a three-year term starting May 1, 2026. The company is also proposing a revision in the remuneration payable to Joint Managing Director Shri Rajeev Gupta, effective from April 1, 2026, for his remaining tenure until February 2028. Shareholders can cast their votes electronically between February 25 and March 26, 2026. These resolutions are being proposed as Special Resolutions to ensure leadership continuity and align executive compensation.

Proposed re-appointment of Shri Riju Jhunjhunwala as Managing Director for a 3-year term starting May 1, 2026.
Revision of remuneration for Joint Managing Director Shri Rajeev Gupta effective from April 1, 2026.
E-voting period scheduled from February 25, 2026, to March 26, 2026, with a cut-off date of February 20, 2026.
The resolutions are proposed as Special Resolutions requiring significant shareholder majority.
The results of the postal ballot will be announced within 2 working days of the voting period end.

💡 Investors should monitor the outcome of the voting to ensure leadership stability and review the detailed remuneration terms to ensure they are commensurate with company performance. No immediate action is required unless shareholders wish to exercise their voting rights.

RSWM Reports Strong 9M FY26 Turnaround with 56.9% EBITDA Growth to ₹242 Cr

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 17 Feb 2026, 06:21 PM

RSWM Limited demonstrated a significant financial recovery in 9M FY26, reporting a PAT of ₹17 Cr compared to a loss in the previous year. EBITDA grew by 56.9% YoY to ₹242 Cr, driven by a 272-basis point margin expansion to 7% despite a mixed demand environment. The company is investing ₹92 Cr to expand its knitting capacity by 20% to 900 MT, targeting high-value printed knit segments by H1 FY27. Additionally, favorable trade agreements with the US and EU are expected to significantly boost export competitiveness and market access.

9M FY26 EBITDA surged 56.9% YoY to ₹242 Cr with margins expanding 272 bps to 7%
Q3 FY26 PAT stood at ₹4 Cr, impacted by a one-time ₹10 Cr labor code expense; underlying profit was significantly higher
Investing ₹92 Cr to increase knitting capacity from 750 MT to 900 MT, expected to be operational by H1 FY27
Finance costs reduced by ₹7 Cr in 9M FY26 due to lower debt and repo rate cuts from 6.5% to 5.2%
Strategic entry into food-grade recycled resin via LNJ GreenPET acquisition, with the facility operational in 12-15 months

💡 Investors should monitor the execution of the ₹92 Cr knitting expansion and the integration of the LNJ GreenPET acquisition as these move the company into higher-margin segments. The structural turnaround from losses to profitability and the reduction in finance costs suggest improved operational efficiency and a stronger balance sheet.

RSWM Limited Releases Audio Recording of Q3 & 9M FY26 Earnings Conference Call

🟡 NEUTRAL ⭐ 3/10

EARNINGS 📅 12 Feb 2026, 06:32 PM

RSWM Limited has shared the audio recording of its earnings conference call held on February 12, 2026. The call focused on the company's unaudited standalone and consolidated financial results for the third quarter and nine-month period ending December 31, 2025. This disclosure is part of the company's regulatory compliance under SEBI (LODR) Regulations, 2015. Investors can now access the management's commentary and Q&A session through the provided web link or the company's official website.

Earnings conference call held on February 12, 2026, at 04:00 PM IST.
Discussion covered financial results for Q3 and 9M FY26 ending December 31, 2025.
Audio recording link made available to the public for transparency.
Management provided insights into both standalone and consolidated performance.

💡 Investors should listen to the recording to understand management's outlook on the textile sector and specific operational hurdles faced during the quarter. No immediate trading action is required based on this routine disclosure.

RSWM Approves ₹300 Cr Guarantee for ₹427 Cr PET Recycling Project; Reappoints MD

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 11 Feb 2026, 06:26 PM

RSWM Limited has approved a corporate guarantee of up to ₹300 crore to support a major expansion project by its wholly-owned subsidiary, LNJ Greenpet Private Limited. The subsidiary is implementing a 'Bottle to Bottle' PET recycling project with a total capital outlay of approximately ₹427 crores. On the leadership front, the board has reappointed Shri Riju Jhunjhunwala as Managing Director for a three-year term effective May 1, 2026. Additionally, the company noted that Independent Director Deepak Jain will complete his second term and cease to be a director on May 10, 2026.

Approved a corporate guarantee of up to ₹300 crore for subsidiary LNJ Greenpet Private Limited.
The guarantee facilitates a PET bottle-to-granule recycling project with a ₹427 crore capital outlay.
Reappointed Shri Riju Jhunjhunwala as Managing Director for a 3-year term from 2026 to 2029.
Independent Director Shri Deepak Jain to retire on May 10, 2026, after completing his second term.
Amended the company's Code of Conduct for Fair Disclosure of Unpublished Price Sensitive Information.

💡 Investors should view the ₹427 crore investment in recycling as a positive move toward sustainability and diversification. Monitor the project's implementation timeline as the ₹300 crore guarantee will be recorded as a contingent liability.

RSWM Q3 FY26: EBITDA Grows 41.7% YoY to ₹82 Cr; PAT Turns Positive at ₹4 Cr

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 11 Feb 2026, 06:20 PM

RSWM reported a revenue of ₹1,093 Cr for Q3 FY26, an 8.6% YoY decline due to softer demand, but achieved a significant 41.7% YoY growth in EBITDA to ₹82 Cr. The company successfully turned profitable with a PAT of ₹4 Cr, compared to a loss of ₹8 Cr in the same quarter last year. EBITDA margins expanded by 260 bps YoY to 7.4%, driven by an improved product mix and operational efficiencies. For the nine-month period, PAT reached ₹17.4 Cr, marking a substantial recovery from a loss of ₹42.9 Cr in 9M FY25.

Q3 FY26 EBITDA grew 41.7% YoY to ₹82 Cr with margins expanding 260 bps to 7.4%
PAT turned positive at ₹4 Cr in Q3 FY26 vs a loss of ₹8 Cr in Q3 FY25
9M FY26 PAT reached ₹17.4 Cr, a significant turnaround from a ₹42.9 Cr loss in 9M FY25
Gross margins improved to 39.2%, up 310 bps YoY, due to better product mix and efficiencies
Revenue for Q3 FY26 stood at ₹1,093 Cr, down 8.6% YoY, reflecting moderated volumes

💡 Investors should note the strong margin expansion and the turnaround to profitability despite a dip in revenue. Monitor the company's ability to sustain these margins and recover volumes as global demand and the India-EU FTA impact unfold.

RSWM Q3 FY26: EBITDA Jumps 41.7% YoY to ₹82 Cr; Announces ₹20 Cr M&A and ₹92 Cr Expansion

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 11 Feb 2026, 06:17 PM

RSWM reported a significant operational turnaround in Q3 FY26, with EBITDA growing 41.7% YoY to ₹82 crore despite an 8% dip in revenue. The company achieved a PAT of ₹4.20 crore, overcoming a ₹10.21 crore exceptional charge related to the New Labour Code service costs. Strategically, RSWM is diversifying into the recycled PET segment through the ₹20.01 crore acquisition of LNJ GreenPET and investing ₹92 crore to expand its knitting operations. Management highlighted a margin expansion to 7.4% and a focus on value-added products to counter global textile demand volatility.

Q3 FY26 EBITDA grew 41.7% YoY to ₹82 Cr with margins expanding 260 bps to 7.4%.
9M FY26 PAT turned positive at ₹17.43 Cr compared to a loss of ₹42.87 Cr in the previous year.
Acquired 100% stake in LNJ GreenPET for ₹20.01 Cr to enter the bottle-to-bottle recycled PET market.
Committed ₹92 Cr for knitting capacity expansion, including ₹54 Cr for machinery from Birla Advanced Knits.
Finance costs reduced by ₹7 Cr YoY in 9M FY26 due to efficient working capital management.

💡 Investors should view the margin expansion and strategic shift toward recycled PET and value-added knits as positive long-term drivers. Monitor the impact of the India-EU FTA and US trade agreements on export volumes in upcoming quarters.

RSWM Approves ₹300 Cr Guarantee for Subsidiary's ₹427 Cr PET Recycling Project

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 11 Feb 2026, 05:57 PM

RSWM Limited has approved a corporate guarantee of up to ₹300 crore to support a term loan for its wholly-owned subsidiary, LNJ Greenpet Private Limited. This financing is dedicated to a new 'Bottle to Bottle' recycling project with a total capital outlay of approximately ₹427 crores. Additionally, the board has reappointed Riju Jhunjhunwala as Managing Director for a three-year term starting May 2026. These developments indicate a significant strategic shift towards sustainable manufacturing and leadership continuity.

Approved corporate guarantee of up to ₹300 crore for subsidiary LNJ Greenpet Private Limited.
Total capital expenditure for the PET bottle-to-granule recycling project is ₹427 crores.
Reappointed Shri Riju Jhunjhunwala as Managing Director for a 3-year term (May 2026 to April 2029).
Shri Rajeev Gupta appointed as Managing Director of the subsidiary to lead the new project.
The guarantee will be recorded as a contingent liability for RSWM Limited.

💡 Investors should view the expansion into PET recycling as a positive ESG-aligned growth move, though they should track the project's execution and its impact on the consolidated debt-to-equity ratio. The leadership continuity provides stability for the company's long-term strategic goals.

RSWM Reappoints MD, Guarantees ₹300 Cr for ₹427 Cr Recycling Project

🟢 POSITIVE ⭐ 7/10

BOARD_MEETING 📅 11 Feb 2026, 05:55 PM

RSWM Limited has approved the reappointment of Shri Riju Jhunjhunwala as Managing Director for a three-year term starting May 2026, ensuring leadership continuity. The company is significantly backing its wholly-owned subsidiary, LNJ Greenpet Private Limited, by providing a corporate guarantee of up to ₹300 crore for a new 'Bottle to Bottle' recycling project. This project involves a substantial capital outlay of approximately ₹427 crores, marking a major expansion into the sustainable recycling segment. Additionally, the board updated its insider trading disclosure policies and noted the upcoming retirement of an independent director.

Reappointment of Riju Jhunjhunwala as Managing Director for 3 years (May 2026 to April 2029)
Issuance of a ₹300 crore corporate guarantee to support subsidiary LNJ Greenpet Private Limited
Implementation of a ₹427 crore 'Bottle to Bottle' pet bottle recycling project
Cessation of Independent Director Deepak Jain effective May 10, 2026, upon completion of his term
Amendment to the Code of Conduct for Fair Disclosure of Unpublished Price Sensitive Information (UPSI)

💡 Investors should view the ₹427 crore recycling project as a significant growth driver in the ESG space, though they should monitor the impact of the ₹300 crore contingent liability on the company's credit profile. Leadership stability with the MD's reappointment is a positive sign for long-term strategy execution.

RSWM Reappoints MD, Guarantees ₹300 Cr for ₹427 Cr Greenpet Project

🟢 POSITIVE ⭐ 7/10

MANAGEMENT 📅 11 Feb 2026, 05:52 PM

RSWM Limited has approved the reappointment of Shri Riju Jhunjhunwala as Managing Director for a three-year term effective May 1, 2026. The company is also providing a ₹300 crore corporate guarantee for its wholly-owned subsidiary, LNJ Greenpet Private Limited, to fund a new recycling project. This 'Bottle to Bottle' project involves a capital outlay of approximately ₹427 crores to produce recycled pet bottle granules. Additionally, Independent Director Deepak Jain will retire on May 10, 2026, following the completion of his second term.

Reappointment of Riju Jhunjhunwala as MD for a 3-year term from May 2026 to April 2029
Issuance of ₹300 crore corporate guarantee for subsidiary LNJ Greenpet Private Limited
Implementation of a 'Bottle to Bottle' recycling project with a capital outlay of ₹427 crores
Appointment of Rajeev Gupta as Managing Director of the subsidiary LNJ Greenpet
Cessation of Independent Director Deepak Jain effective May 10, 2026, due to term completion

💡 Investors should take note of the leadership continuity and the significant ₹427 crore expansion into the sustainable recycling sector. Monitor the progress of the LNJ Greenpet project as it represents a strategic diversification into the circular economy.

RSWM Q3 Results: Consolidated Net Profit at ₹2.38 Cr, Significant Turnaround from YoY Loss

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 11 Feb 2026, 05:43 PM

RSWM Limited reported a consolidated net profit of ₹2.38 crore for the quarter ended December 31, 2025, marking a significant recovery from a net loss of ₹9.23 crore in the corresponding quarter of the previous year. While revenue from operations declined by 8.6% YoY to ₹1,090.81 crore, the company's nine-month performance shows a strong turnaround with a standalone net profit of ₹17.43 crore compared to a loss of ₹42.87 crore in 9M FY25. The quarterly results were slightly dampened by an exceptional item expense of ₹10.21 crore.

Consolidated Net Profit turned positive at ₹2.38 Cr in Q3 FY26 versus a loss of ₹9.23 Cr in Q3 FY25.
9M FY26 Standalone Net Profit reached ₹17.43 Cr, reversing a massive loss of ₹42.87 Cr in the previous year's nine-month period.
Revenue from operations for the quarter stood at ₹1,090.81 Cr, a decrease from ₹1,195.62 Cr in the same period last year.
Total Comprehensive Income (Consolidated) for the quarter was ₹21.67 Cr, significantly aided by Other Comprehensive Income of ₹19.29 Cr.
The company recorded an exceptional item of ₹10.21 Cr during the quarter, which impacted the pre-tax profit.

💡 The company's shift from losses to profitability over the nine-month period is a positive signal for long-term recovery. Investors should watch for stabilization in revenue growth and the impact of raw material price fluctuations on margins.

RSWM Q3 FY26: Consolidated Net Profit at ₹2.38 Cr vs Loss YoY; Revenue Down 8.7%

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 11 Feb 2026, 05:34 PM

RSWM Limited reported a consolidated net profit of ₹2.38 crore for the quarter ended December 2025, marking a turnaround from a loss of ₹9.23 crore in the same period last year. However, revenue from operations declined by 8.7% YoY to ₹1,090.81 crore, reflecting a challenging demand environment. The company's bottom line was also impacted by an exceptional item loss of ₹10.22 crore. On a nine-month basis, the company has returned to profitability with a standalone net profit of ₹17.43 crore compared to a significant loss in the previous year.

Consolidated Net Profit of ₹2.38 Cr in Q3 FY26 vs a loss of ₹9.23 Cr in Q3 FY25
Revenue from operations fell 8.7% YoY to ₹1,090.81 Cr from ₹1,195.62 Cr
Standalone 9-month profit stands at ₹17.43 Cr, recovering from a loss of ₹42.87 Cr in the prior year
Exceptional item of ₹10.21 Cr recognized during the quarter
Total Comprehensive Income for the quarter reached ₹21.67 Cr, aided by other comprehensive income gains

💡 Investors should note the successful turnaround to profitability despite a shrinking top line. Monitor the company's ability to revive revenue growth in the coming quarters while managing operational costs.

RSWM Limited to Host Q3 & 9M FY26 Earnings Conference Call on February 12, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 05 Feb 2026, 04:06 PM

RSWM Limited has scheduled its earnings conference call for Thursday, February 12, 2026, at 4:00 PM IST. The call will focus on the unaudited standalone and consolidated financial results for the third quarter and nine months ended December 31, 2025. Senior management will provide insights into the company's financial performance and address investor queries during an interactive Q&A session. This is a routine regulatory filing following the conclusion of the December quarter.

Earnings call scheduled for February 12, 2026, at 4:00 PM IST.
Focus on Unaudited Standalone and Consolidated results for Q3 and 9M FY26.
Management discussion will be followed by a live interactive Q&A session.
Investor presentation and press release will be made available on the company website post-results.

💡 Investors should monitor the call for management commentary on textile demand trends and margin pressures. Use the provided Diamond Pass link to register for direct participation in the Q&A session.

RSWM Limited Assigned Voluntary ESG Rating of 55 by ESG Risk Assessments & Insights

🟡 NEUTRAL ⭐ 4/10

OTHER 📅 28 Jan 2026, 06:22 PM

RSWM Limited has received a voluntary Environmental, Social, and Governance (ESG) rating of 55 from ESG Risk Assessments & Insights Limited, a SEBI-registered provider. The rating, announced on January 28, 2026, is based entirely on publicly available data. Crucially, the company has noted that it has not verified the data used by the agency for this assessment. This score provides an initial external benchmark for the company's sustainability and governance profile for institutional investors.

ESG Risk Assessments & Insights Limited assigned a voluntary ESG rating of 55 to RSWM.
The rating was issued on January 28, 2026, using publicly available information.
The rating provider is a SEBI-registered ESG rating entity.
RSWM management explicitly stated they have not verified the data used for this rating calculation.

💡 Investors should treat this score as a preliminary ESG benchmark; however, the unverified nature of the data suggests the score may change if the company provides direct inputs. Monitor for future verified ESG disclosures which may impact institutional fund eligibility.

View All RSWM Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Overall revenue for H1 FY26 was ₹2,319 Cr, a decline of 2.3% YoY from ₹2,374 Cr. The decline was primarily driven by lower capacity utilization in the mélange and knit business segments. Q2 FY26 revenue stood at ₹1,150 Cr, down 1.4% YoY and 1.6% QoQ.

Geographic Revenue Split

Not disclosed in available documents, though the company notes a balance between domestic demand (boosted by GST rationalization) and export diversification to mitigate global headwinds.

Profitability Margins

Gross margins expanded to 37.8% in H1 FY26 (up 173 bps YoY) and reached 38.4% in Q2 FY26 (up 195 bps YoY). This improvement was driven by lower raw material costs and a shift toward a more profitable product mix. PAT margin remained stable at 0.5% for Q2 FY26.

EBITDA Margin

EBITDA margin for H1 FY26 was 6.8%, representing a 280 bps gain YoY. Absolute EBITDA for H1 FY26 rose 66.1% to ₹160 Cr. Q2 FY26 EBITDA grew 85.6% YoY to ₹79 Cr (6.8% margin) due to operational efficiencies and disciplined cost management.

Capital Expenditure

Capital Work in Progress (CWIP) stood at ₹46.10 Cr as of September 30, 2025, compared to ₹30.97 Cr in FY25, indicating ongoing investments in facilities. Property, Plant & Equipment (PPE) is valued at ₹1,380.86 Cr.

Credit Rating & Borrowing

Finance costs declined 11.5% YoY and 8.9% QoQ to ₹30.6 Cr in Q2 FY26. This was achieved through a reduction in total debt and lower interest rates. Total non-current borrowings stood at ₹484.61 Cr, while short-term borrowings were ₹947.66 Cr as of H1 FY26.

⚙️ Operational Drivers

Raw Materials

Specific raw materials include cotton, synthetic fibers, and green fiber. Lower raw material costs were a primary driver for the 195 bps expansion in gross margins during Q2 FY26.

Capacity Expansion

Current installed capacity is not specified in units, but the company reported lower capacity utilization in the mélange and knit businesses during Q2 and H1 FY26, which negatively impacted revenue.

Raw Material Costs

Gross profit rose 2.7% YoY to ₹885 Cr in H1 FY26 despite lower revenue, indicating that raw material costs as a percentage of revenue decreased, leading to a margin of 37.8%.

Manufacturing Efficiency

Operational efficiency and disciplined cost management contributed to a 318 bps YoY expansion in EBITDA margins for Q2 FY26.

📈 Strategic Growth

Growth Strategy

Growth will be driven by the 'RSWM 2.0' transformation plan, which focuses on a three-year roadmap for cost optimization, improving product and market mix through new territories, and leveraging technology and automation. The company is also monetizing non-operating assets to fund these initiatives.

Products & Services

Synthetic yarn, blended yarn, mélange yarn, cotton yarn, specialty and value-added yarns, denim fabric, synthetic fabric, and green fiber.

Brand Portfolio

LNJ Bhilwara Group (Parent), RSWM 2.0 (Strategic Initiative).

New Products/Services

The company is exploring new territories and brands under RSWM 2.0 to improve the overall market mix.

Market Expansion

Focusing on new territories and expanding the global presence to capture emerging growth opportunities.

Market Share & Ranking

RSWM is described as one of the largest textile manufacturing companies in India.

Strategic Alliances

LNJ Skills & Rozgar Private Limited (Associate - 47.30% ownership) and BG Wind Power Limited (Subsidiary - 100% ownership).

🌍 External Factors

Industry Trends

The industry is seeing a shift toward value-added yarns and technical textiles. RSWM is positioning itself through automation and 'RSWM 2.0' to remain competitive amidst global volatility.

Competitive Landscape

Competes in the global and domestic textile markets for yarns and fabrics; specific competitor names were not listed.

Competitive Moat

Moat is built on a well-diversified product portfolio across 6 segments, large-scale manufacturing facilities, and a strong parentage (LNJ Bhilwara Group). Sustainability is driven by the transition to 'green fiber' and operational agility.

Macro Economic Sensitivity

Highly sensitive to global economic conditions and domestic consumption trends. Domestic demand is currently supported by GST rationalization.

Consumer Behavior

Steady domestic consumption is supporting demand for suitings, shirtings, and denim.

Geopolitical Risks

Global headwinds and economic uncertainty are cited as factors causing a slight decline in revenue and impacting export diversification.

⚖️ Regulatory & Governance

Industry Regulations

Operations are influenced by GST rationalization and SEBI (LODR) Regulations for financial reporting.

Environmental Compliance

The company produces 'green fiber' and utilizes wind power (20 MW) to meet sustainability goals.

Taxation Policy Impact

Deferred tax liability stood at ₹66.55 Cr as of H1 FY26.

⚠️ Risk Analysis

Key Uncertainties

Global economic uncertainty and its impact on export demand; potential for continued low capacity utilization in the mélange and knit segments in Q3 FY26.