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SBC Exports Limited (SBC)

₹63.33 -1.37% last close, 16 Oct

📊 NSE: SBC 🏢 Textiles - Products 📢 Latest filing: 15 Oct 2026 📝 Analysis written: 14 Dec 2025

Q2 FY27 results

SBC Exports Limited reported Q2 FY27 results on 15 Oct 2026: revenue ₹164 Cr (+94.0% year on year, +35.7% on the previous quarter), and net profit ₹11.4 Cr (+0.0% year on year); the operating margin was 9.0%.

Q2 FY27 (₹ Cr)	Value	YoY vs Q2 FY26	QoQ
Revenue	₹164	+94.0%	+35.7%
Operating profit	₹14.8	+44.3%	+13.0%
Net profit	₹11.4	+0.0%	+18.4%
EPS (₹)	0.24	+0.0%	+20.0%
Operating margin	9.0%	—	—

Profit -50% below its own trend
Operating margin contracted 311 bps YoY
33% of pre-tax profit came from other income and one-off items
Core business grew faster than reported profit (core profit +38%)
H1 FY27 operating cash flow was negative despite a profit

Quality of profit: of pre-tax profit of ₹15.4 Cr, ₹10.3 Cr (67%) came from the core business and the rest from other income and one-off items. Core profit (operating profit less interest and depreciation) moved +37.7% year on year.

Against its own trend: net profit of ₹11.4 Cr was -50.0% against the ₹22.7 Cr its recent growth pointed to (below trend). This is a statistical baseline, not an analyst estimate.

Share price since the results: -1.4% (close before the filing to the latest close).

Full quarterly financials → Margins & quality of profit → All Q2 FY27 results → Results calendar →

SBC delivery percentage and bulk deals

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 39.07% of the SBC shares traded on NSE were taken to delivery, against the stock's own 20-session average of 36.92%. That is close to its usual level. 30 bulk or block deals were reported in SBC in the last 60 days: ₹245 Cr bought and ₹269 Cr sold.

39.07%Delivery, 16 Oct

36.92%Own 20-session average

0.8×Volume vs its average

₹63.33NSE close · -1.37%

Delivery in the last 5 sessions: 31.6% · 35.7% · 33.3% · 28.6% · 39.1%

Date	Side	Counterparty	Value	Price	Quantity	Type
12 Oct	Buy	Froxy International Llp	₹25.75 Cr	₹64.13	4,015,393	Bulk
12 Oct	Buy	Desham Ventures Limited	₹16.48 Cr	₹63.98	2,576,120	Bulk
12 Oct	Sell	Desham Ventures Limited	₹10.32 Cr	₹64.01	1,612,985	Bulk
9 Oct	Sell	Froxy International Llp	₹24.76 Cr	₹62.27	3,976,287	Bulk
6 Oct	Sell	Hrti Private Limited	₹23.48 Cr	₹61.89	3,793,253	Bulk

Delivery across the market →All bulk and block deals →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Q2 FY27 Consolidated Revenue Up 94% YoY to ₹164.33 Cr; PAT Up 41% Standalone

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 15 Oct 2026, 07:50 PM

SBC Exports reported strong growth for Q2 ended September 30, 2026, with consolidated revenue from operations rising 94% YoY to ₹164.33 Cr compared to ₹84.70 Cr in Q2 FY26. On a standalone basis, revenue reached ₹138.31 Cr (vs ₹64.81 Cr in Q2 FY26) and standalone net profit rose 41% YoY to ₹10.80 Cr (vs ₹7.65 Cr). Segmentally, Garments Sales remained the largest contributor with consolidated segment revenue expanding to ₹99.36 Cr, while IT Support Services brought in ₹38.95 Cr. Diluted EPS for the quarter stood at ₹0.23 on a standalone basis.

Consolidated revenue from operations increased 94% YoY to ₹164.33 Cr in Q2 FY27 from ₹84.70 Cr in Q2 FY26
Standalone net profit grew 41.2% YoY to ₹10.80 Cr compared to ₹7.65 Cr in the year-ago period
Garments division delivered consolidated segment revenue of ₹99.36 Cr and PBIT of ₹14.35 Cr
IT Support Services and Tour & Travel services recorded Q2 consolidated revenues of ₹38.95 Cr and ₹26.42 Cr respectively
Basic and diluted EPS for Q2 FY27 stood at ₹0.23 per share

💡 Track operating margin stability across segments and working capital cycles, particularly receivables which rose significantly to ₹172.73 Cr as of September 30, 2026.

SBC Exports Submits Regulation 74(5) Depository Certificate for Q2 FY27

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 12 Oct 2026, 12:36 PM

SBC Exports Limited has submitted its confirmation certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate pertains to the quarter and half-year ended September 30, 2026. It was issued by the company's Registrar and Share Transfer Agent, Bigshare Services Private Limited. This is a standard quarterly compliance filing confirming the dematerialization status of securities.

Compliance certificate submitted under Regulation 74(5) of SEBI Regulations, 2018
Covers the quarter and half-year ended September 30, 2026
Issued by Registrar and Share Transfer Agent, Bigshare Services Private Limited
Filing signed on October 12, 2026

💡 No action required. Investors should track upcoming Q2 financial results for fundamental performance updates.

SBC Exports Concludes 15th AGM; Considers FY26 Accounts and Related Party Transactions

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 30 Sep 2026, 04:51 PM

SBC Exports Limited concluded its 15th Annual General Meeting (AGM) on September 30, 2026. The meeting addressed ordinary business, including the adoption of FY26 audited standalone and consolidated financial statements. Special business included approving remuneration for FY27 cost auditors and related party transactions with Korporate Bizmax Limited and SBC Infotech Limited. Final voting results across remote e-voting and physical polling will be disclosed within two working days.

15th Annual General Meeting held on September 30, 2026, from 10:00 AM to 10:30 AM
Remote e-voting took place from September 27, 2026 (9:00 AM) to September 29, 2026 (5:00 PM)
Adopted audited financial statements for FY26 (FY26 revenue of Rs 176.91 Cr, net profit Rs 14.67 Cr)
Voted on related party transactions with Korporate Bizmax Limited and SBC Infotech Limited
Official voting results to be reported to stock exchanges within 2 working days

💡 Track the upcoming disclosure of voting results to confirm shareholder approval of the special business resolutions regarding related party transactions.

SBC Exports to Close Trading Window from October 1, 2026 for Q2/H1 FY27 Results

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 25 Sep 2026, 06:22 PM

SBC Exports Limited has announced the closure of its trading window effective October 1, 2026, pursuant to SEBI Insider Trading Regulations. The closure applies to all Board Members, Promoters, and Designated Persons ahead of the declaration of un-audited financial results for the quarter and half-year ended September 30, 2026. The window will reopen 48 hours after the declaration of the financial results. The specific date for the board meeting to approve the results will be announced separately.

Trading window closes on 1st October, 2026
Window remains closed until 48 hours after declaration of Q2 and H1 results for period ended 30th September, 2026
Applies to all Board Members, Promoters, Designated/Specified Connected Persons, and immediate relatives
Board meeting date to declare results will be intimated in due course

💡 Track the upcoming exchange filing for the announcement of the exact Board Meeting date when Q2/H1 FY27 financial results will be approved.

SBC Exports Dispatches FY26 Annual Report Web-Link; 15th AGM Scheduled for Sep 30, 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 05 Sep 2026, 06:22 PM

SBC Exports Limited has informed exchanges regarding the dispatch of letters containing web-links to its FY 2025-26 Integrated Annual Report and AGM Notice for shareholders without registered email addresses. The company's 15th Annual General Meeting (AGM) will be held physically on September 30, 2026, at 10:00 AM at its registered office in Mirzapur, Uttar Pradesh. The cut-off date used for identifying shareholders for this physical mailing was August 28, 2026.

15th Annual General Meeting scheduled for September 30, 2026, at 10:00 AM
Intimation pursuant to Regulation 36(1)(b) of SEBI LODR Regulations, 2015
Physical letter sent to shareholders with unregistered emails based on cut-off date August 28, 2026
AGM to be conducted via physical means at registered office in Mirzapur, Uttar Pradesh

💡 Shareholders may review the FY26 Annual Report via the provided company web-link and note the AGM date of September 30, 2026.

SBC Exports Seeks Shareholder Nod for up to ₹1,500 Cr Related Party Deals over 5 Years

🔵 WATCH ⭐ 6/10

REGULATORY 📅 05 Sep 2026, 06:00 PM

SBC Exports Limited has issued notice for its 15th Annual General Meeting to be held on September 30, 2026. A key agenda is seeking shareholder approval for substantial Related Party Transactions (RPTs) spanning FY27 to FY31. This includes purchases of packaging materials from Korporate Bizmax Limited up to ₹200 crore per year (₹1,000 crore total) and service transactions with SBC Infotech Limited up to ₹100 crore per year (₹500 crore total). Combined annual RPT caps of ₹300 crore exceed the company's TTM revenue of ₹298 crore.

15th AGM scheduled for Wednesday, September 30, 2026, at Vindhyachal, Mirzapur.
Proposed RPT with Korporate Bizmax Limited capped at ₹200 crore per year (₹1,000 crore over 5 years).
Proposed RPT with SBC Infotech Limited capped at ₹100 crore per year (₹500 crore over 5 years).
Combined annual RPT approval limits of ₹300 crore represent ~100.7% of TTM revenue (₹298 crore).

💡 Track shareholder voting results post-AGM on September 30, 2026, and scrutinize subsequent quarterly related-party transaction disclosures to assess actual utilization and arm's-length pricing.

SBC Exports Wins ₹7.5 Cr ($794k) Repeat Export Order from Dubai-Based Client

🟢 POSITIVE ⭐ 5/10

OTHER 📅 04 Sep 2026, 05:34 PM

SBC Exports Limited has secured a repeat export order valued at USD 794,110.15 (approx. ₹7.5 crore) from UAE-based HUXXE Readymade Garments Trading LLC. The contract involves the supply of ready-made garment articles, including T-shirts, trousers, and shorts. The order is slated for execution within two months from September 3, 2026. Representing approximately 2.5% of SBC Exports' TTM revenue of ₹298 crore, freight and insurance costs will be borne by the buyer, with payment receivable within 90 days in US Dollars.

Repeat export order valued at USD 794,110.15 (approx. ₹7.5 crore)
Execution timeline of 2 months from PO date (September 3, 2026)
Payment terms within 90 days of goods receipt, settled in USD
Insurance and freight expenses to be borne entirely by the Dubai-based buyer

💡 Track execution within the 2-month window and watch for revenue realization in the subsequent quarterly earnings.

SBC Exports Wins ₹7.5 Cr Repeat Garment Export Order from Dubai

🟢 POSITIVE ⭐ 5/10

OTHER 📅 04 Sep 2026, 05:29 PM

SBC Exports Limited has bagged a repeat export order worth USD 794,110.15 (approximately ₹7.5 crore) from Dubai-based HUXXE Readymade Garments Trading LLC. The order entails supplying garment articles including T-shirts, trousers, and shorts. It has a short execution timeframe of two months from September 3, 2026. The order value accounts for approximately 2.5% of the company's TTM revenue of ₹298 crore, reinforcing its export presence in the UAE market.

Order value is USD 794,110.15 (approx. INR 7.5 crore)
Execution timeline set to 2 months from PO date (03.09.2026)
Repeat order from Dubai-based HUXXE Readymade Garments Trading LLC for T-shirts, trousers, and shorts
Payment term agreed at 90 days post receipt of goods, with freight and insurance paid by the client

💡 Track timely fulfillment over the next two months and monitor working capital cycles in upcoming quarterly filings given the 90-day credit term.

SBC Exports Schedules 15th AGM for Sept 30, 2026; Appoints Cost Auditor

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 27 Aug 2026, 05:35 PM

SBC Exports Limited has scheduled its 15th Annual General Meeting (AGM) for Wednesday, September 30, 2026, at 10:00 AM at its registered office in Mirzapur, Uttar Pradesh. The cut-off date for e-voting is set for September 23, 2026, with the remote voting period running from September 27 to September 29, 2026. Additionally, the Board has approved the appointment of M/s Durga Prasad & Associate as Cost Auditors for FY 2026-27 with a remuneration of ₹60,000 plus applicable taxes.

15th Annual General Meeting to be held on Wednesday, September 30, 2026, at 10:00 AM
Cut-off date for e-voting eligibility fixed as Tuesday, September 23, 2026
Remote e-voting window open from September 27, 2026 (09:00 AM) to September 29, 2026 (05:00 PM)
Book closure period scheduled from September 24, 2026 to September 29, 2026 (both days inclusive)
Appointed M/s Durga Prasad & Associate as Cost Auditor for FY 2026-27 at a fee of ₹60,000 plus taxes

💡 Shareholders holding equity as of September 23, 2026, are eligible to vote on AGM resolutions between September 27 and September 29, 2026.

SBC Exports Schedules 15th AGM for Sep 30, 2026; Appoints Cost Auditor at ₹60,000 Fee

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 27 Aug 2026, 05:33 PM

SBC Exports Limited has announced its 15th Annual General Meeting (AGM) scheduled for Wednesday, September 30, 2026. The cut-off date for remote e-voting is set as September 23, 2026, with the voting window open from September 27 to September 29, 2026. Additionally, the Board approved the appointment of M/s Durga Prasad & Associate as Cost Auditors for FY 2026-27 at a fee of ₹60,000 plus applicable taxes and out-of-pocket expenses.

15th AGM scheduled for Wednesday, September 30, 2026, at 10:00 AM at the Mirzapur registered office
Cut-off date for e-voting determined as Tuesday, September 23, 2026
Remote e-voting window open from September 27, 2026 (09:00 AM) to September 29, 2026 (05:00 PM)
Book closure fixed from September 24, 2026 to September 29, 2026 (both days inclusive)
M/s Durga Prasad & Associate appointed as Cost Auditor for FY 2026-27 at a remuneration of ₹60,000

💡 Shareholders looking to vote on AGM resolutions should note the record/cut-off date of September 23, 2026.

Q1 FY27 PAT Surges 269% YoY to ₹9.60 Cr; SBC Exports Targets 40-50% FY27 Growth

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 20 Aug 2026, 02:15 PM

SBC Exports delivered strong Q1 FY27 consolidated performance, with revenue growing 67.11% YoY to ₹121.08 Cr and PAT jumping 269.23% YoY to ₹9.60 Cr. Consolidated EBITDA margin expanded significantly to 13.64% from 8.02% in Q1 FY26, driven by higher execution across garments exports, IT support, and travel verticals. Management noted the progressive reopening and recovery of shipping routes through Dubai as a key growth catalyst. Backed by current momentum, the company guided for 40%–50% overall business growth for FY27.

Consolidated revenue increased 67.11% YoY to ₹121.08 Cr in Q1 FY27.
Consolidated EBITDA surged 192.21% YoY to ₹16.89 Cr, with margins reaching 13.64% (up from 8.02%).
Consolidated PAT rose 269.23% YoY to ₹9.60 Cr from ₹3.47 Cr in Q1 FY26.
Management provided full-year FY27 growth guidance of approximately 40%–50%.

💡 Track execution against the guided 40-50% FY27 growth target and watch whether operating margins sustain above 13% across subsequent quarters.

SBC Exports cancels ₹99.06 Cr preferential issue to promoters due to regulatory complexities

🟡 NEUTRAL ⭐ 7/10

FUNDRAISE 📅 12 Aug 2026, 06:56 PM

SBC Exports has withdrawn its proposal to issue 2.75 crore equity shares to its promoters, which was originally approved on May 29, 2026. The issue was intended to convert an unsecured loan of ₹99.06 crore into equity at a price of ₹36 per share. The company cited 'procedural and regulatory complexities' as the reason for the cancellation. While this prevents equity dilution, the ₹99.06 crore remains as debt on the balance sheet rather than being converted to permanent capital.

Cancellation of the issuance of 27,516,513 equity shares at ₹36.00 per share
Withdrawal of the conversion of an unsecured loan totaling ₹99,05,94,474 into equity
The proposed issue value of ₹99.06 crore represents approximately 56% of the company's TTM revenue of ₹177 crore
The issue price of ₹36.00 was at a discount to the current market price of ₹40.2
The decision follows the original board approval granted on May 29, 2026

💡 Investors should monitor the company's next steps regarding the ₹99.06 crore unsecured loan and whether it will be repaid or if a new conversion proposal will be initiated. Clarification on the specific 'regulatory complexities' would provide better insight into the company's compliance standing.

SBC Cancels Rs 99.06 Cr Promoter Debt-to-Equity Conversion; Reports 67% YoY Q1 Revenue Growth

🔵 WATCH ⭐ 7/10

EARNINGS 📅 12 Aug 2026, 06:05 PM

SBC Exports has cancelled its plan to convert Rs 99.06 crore of promoter unsecured loans into 2.75 crore equity shares at Rs 36 per share, citing regulatory and procedural complexities. This proposed conversion represented approximately 56% of the company's TTM revenue, and its cancellation means the debt remains on the balance sheet. Simultaneously, the company reported strong Q1 FY27 results, with consolidated revenue growing 67% YoY to Rs 121.08 crore. Consolidated Net Profit for the quarter rose significantly to Rs 8.45 crore, compared to Rs 1.74 crore in the same quarter last year.

Cancellation of the issuance of 2,75,16,513 equity shares to promoters via loan conversion.
Termination of the Rs 99.06 crore unsecured loan conversion originally approved on May 29, 2026.
Q1 FY27 consolidated revenue increased to Rs 121.08 crore from Rs 72.46 crore in Q1 FY26.
Consolidated Net Profit for Q1 FY27 surged to Rs 8.45 crore from Rs 1.74 crore YoY.
Garment Sales segment contributed Rs 70.51 crore to the quarterly revenue, up from Rs 30.16 crore YoY.

💡 Investors should monitor how the company intends to manage or repay the Rs 99.06 crore unsecured loan now that the equity conversion is cancelled. Additionally, track the sustainability of the high growth in the Garment Sales segment, which more than doubled YoY.

SBC Q1 Net Profit Jumps 385% to ₹8.45 Cr; ₹99 Cr Debt-to-Equity Conversion Cancelled

🔵 WATCH ⭐ 7/10

EARNINGS 📅 12 Aug 2026, 05:52 PM

SBC Exports reported a robust Q1 FY27 with consolidated revenue growing 67% YoY to ₹121.08 Cr. Net profit surged nearly five-fold to ₹8.45 Cr from ₹1.74 Cr in the year-ago period, driven by a 133% jump in Garment segment sales. However, the Board cancelled a previously approved ₹99.06 Cr preferential issue intended to convert promoter unsecured loans into equity, citing 'regulatory complexities.' While operational performance is strong, the cancellation of the debt restructuring plan is a key development for the balance sheet.

Consolidated Revenue from operations rose 67% YoY to ₹121.08 Cr in Q1 FY27.
Net Profit increased by 385% YoY to ₹8.45 Cr compared to ₹1.74 Cr in Q1 FY26.
Garment Sales segment revenue grew to ₹70.51 Cr, up from ₹30.16 Cr YoY.
Cancelled the issuance of 2.75 Cr equity shares at ₹36/share intended to settle ₹99.06 Cr in promoter loans.
Consolidated EPS improved significantly to ₹0.20 from ₹0.05 in the corresponding previous quarter.

💡 Investors should monitor the company's plan for the ₹99.06 Cr unsecured loan now that the equity conversion is cancelled. Additionally, track the sustainability of the high-growth garment segment and the impact of 'regulatory complexities' mentioned in the filing.

₹52.2 Lakh Manpower Supply Order from MeitY (NICSI)

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 27 Jul 2026, 02:38 PM

SBC Exports Limited has secured a work order worth ₹52.2 lakh from the Ministry of Electronics and Information Technology (MeitY) through NICSI for manpower supply. The contract is domestic and scheduled for execution over a six-month period starting July 27, 2026. While the order confirms the company's ongoing relationship with government departments for IT support services, the financial magnitude is very small, representing approximately 0.29% of the company's TTM revenue of ₹177 Cr.

Order value of ₹52,19,862 for providing manpower supply services.
Execution timeline is fixed at 6 months from the date of allotment.
Contract awarded by the Ministry of Electronics and Information Technology through NICSI.
Payment terms are monthly based on actual duration of support services rendered.
Company is responsible for all statutory entitlements including EPF, ESI, and insurance for deployed personnel.

💡 Investors should view this as a routine operational update for the IT services segment; focus should remain on the execution of the larger textile expansion in Ghaziabad which is more material to the company's valuation.

View All SBC Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue for HY1 FY26 grew 19.54% YoY to INR 157.15 Cr. Segment-wise performance for HY1 FY26: IT Support Services revenue reached INR 55.68 Cr (up 41.7% YoY from INR 39.29 Cr), Garments Sales reached INR 70.49 Cr (up 6.4% YoY from INR 66.25 Cr), and Tour & Travel Services reached INR 31.59 Cr (up 16.3% YoY from INR 27.17 Cr).

Geographic Revenue Split

The company is expanding its international footprint with a significant push into Dubai-based clients for garment exports. Domestic revenue is driven by IT Support Services for government organizations and institutional clients in India.

Profitability Margins

Consolidated PAT for FY24 was INR 9.44 Cr (4.43% margin), representing a 36.61% YoY growth. For HY1 FY26, segment-wise profit before tax was: IT Support Services INR 3.94 Cr, Garments Sales INR 13.19 Cr, and Tour & Travel Services INR 0.93 Cr. Standalone PAT margin for Q2 FY26 was reported at 51.47%, though this reflects a specific quarterly surge.

EBITDA Margin

Consolidated EBITDA margin for FY24 was 9.59%, up from 6.43% in FY23. In Q2 FY26, standalone EBITDA surged by 78.18% YoY to INR 9.80 Cr, driven by improved operational efficiency and a strategic shift in product mix.

Capital Expenditure

The company has acquired land in Ghaziabad to set up a fifth manufacturing unit specifically to cater to export markets. Historical infrastructure development includes establishing integrated facilities for dyeing, printing, stitching, and packaging across 4 existing units.

Credit Rating & Borrowing

Finance costs for FY24 stood at INR 5.92 Cr, a significant increase of 158.52% YoY from INR 2.29 Cr in FY23, indicating increased borrowing to fund expansion and working capital.

⚙️ Operational Drivers

Raw Materials

Textile fabrics and yarn (implied by garment manufacturing), though specific material names and cost percentages are not disclosed in available documents.

Capacity Expansion

Currently operates 4 manufacturing facilities. Expansion is underway with land already acquired in Ghaziabad for a new export-oriented unit.

Raw Material Costs

Raw material procurement is identified as a key risk area. Procurement strategies focus on streamlining manufacturing and optimizing resources to control costs while facilitating QoQ growth.

Manufacturing Efficiency

Integrated facilities (dyeing to packaging) drive efficiency. ROCE improved to 0.29 in FY25 from 0.26 in FY24, reflecting better capital efficiency.

📈 Strategic Growth

Expected Growth Rate

21.21%

Growth Strategy

Growth is targeted through a multi-pronged approach: infrastructure development (new Ghaziabad unit), geographic expansion into Dubai and other international markets, and scaling the Mauji Trip subsidiary in the travel sector. The company is also focusing on high-margin garment export orders, such as a recent INR 50 Cr contract.

Products & Services

Garments (manufactured and exported), IT Support Services (government and institutional), and Tour & Travel services (Ticketing, Leisure Travel, and MICE).

Brand Portfolio

Mauji Trip (Travel Services subsidiary) and F-Route (Logo/Brand).

New Products/Services

Expansion of export-quality garment lines and world-class services in Leisure Travel and MICE through Mauji Trip Limited.

Market Expansion

Targeting newer geographies for garments and expanding the domestic footprint for IT services. The new Ghaziabad unit is the primary vehicle for export market expansion.

🌍 External Factors

Industry Trends

The garment industry is seeing a shift toward integrated manufacturing. The travel industry is experiencing a surge in Leisure and MICE demand, evidenced by SBC's 145% growth in travel services in FY24.

Competitive Landscape

The company competes in the fragmented garment export market and the competitive IT support and travel services sectors.

Competitive Moat

Moat is built on integrated manufacturing facilities (dyeing, printing, stitching, packaging) which provide cost leadership and quality control. This is sustainable due to the high capital requirement for integrated setups.