Siddhi Cotspin Limited (SIDDHICOTS)
SIDDHICOTS delivery percentage
NSE end-of-day data for
On Fri, 23 Oct 2026, 89.66% of the SIDDHICOTS shares traded on NSE were taken to delivery, against the stock's own 20-session average of 93.32%. That is close to its usual level. Turnover was only ₹9 lakh, so a handful of trades can move this figure. It traded 5.6 times its average daily volume.
Delivery in the last 5 sessions: 100.0% · 100.0% · 100.0% · 100.0% · 89.7%
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
Siddhi Cotspin Limited received an order on October 14, 2026, under Section 107(11) of the CGST Act from the Commissioner (Appeals), Customs and Central Goods and Services Tax. The order imposes a tax demand of ₹11,63,290 alongside an equivalent penalty of ₹11,63,290. The dispute stems from alleged non-payment of GST by a third party from whom the company's supplier purchased raw cotton. The company stated it is evaluating legal options and does not foresee any material operational or financial impact.
- Order received on October 14, 2026, under Section 107(11) of the CGST Act
- Imposes a penalty of ₹11,63,290 along with a tax demand of ₹11,63,290
- Matter pertains to GST on cotton purchases involving alleged third-party non-payment
- Company expects no material impact on its financial position or business operations
Siddhi Cotspin Limited announced the voting results of its 11th Annual General Meeting held on August 31, 2026. A total of 1,82,36,411 votes were polled, representing 74.72% of total outstanding shares, with 100% votes cast in favor of all three ordinary resolutions. Key resolutions passed include the adoption of audited financial statements for FY ended March 31, 2026, the re-appointment of Director Navin Saraogi, and the ratification of the Cost Auditor's remuneration.
- Total voter turnout stood at 74.72% (1,82,36,411 votes polled out of 2,44,06,491 total shares)
- All 3 ordinary resolutions passed unanimously with 100% votes in favor and 0 votes against
- Promoter and Promoter Group polled 1,60,00,223 shares (100% turnout within promoter group)
- Public non-institutional turnout was 30.71% (22,36,188 votes polled out of 72,80,668 shares)
- Total shareholder count on record date (August 25, 2026) was 1,552
Siddhi Cotspin Limited conducted its 11th Annual General Meeting (AGM) on August 31, 2026, via video conferencing. The meeting commenced at 3:00 PM and concluded at 3:05 PM. Key business items transacted included the adoption of audited financial statements for FY 2025-26, the re-appointment of Managing Director Mr. Navin Saraogi, and the ratification of cost auditor remuneration. Voting was conducted via remote e-voting and during the AGM, with official results to be declared subsequently.
- 11th Annual General Meeting conducted on August 31, 2026, starting at 3:00 PM
- Meeting concluded within 5 minutes at 3:05 PM with no shareholder queries raised
- Agendas tabled: Adoption of FY26 financial statements, re-appointment of MD Navin Saraogi, and cost auditor remuneration
- E-voting facility remained open for 15 minutes following the conclusion of the meeting
Siddhi Cotspin Limited has submitted its Annual Report for FY 2025-26 and scheduled its 11th Annual General Meeting (AGM) for August 31, 2026. This marks a significant milestone as the company's first full-year report following its listing on the NSE SME platform on September 26, 2025. The report details the company's operations at its Ahmedabad-based Greenfield facility, which produces specialty cotton yarns like Lycra Core Spun and Slub Yarn. Investors now have access to the full audited financial statements and management's outlook for the textile sector.
- 11th Annual General Meeting scheduled for August 31, 2026, via Video Conferencing
- Company successfully listed on the NSE SME Emerge platform on September 26, 2025
- Managing Director Mr. Navin Saraogi brings over 21 years of textile industry experience
- Annual Report includes detailed financial statements for FY 2025-26 (pages 77-116)
- Company operates a Greenfield manufacturing project in Dholka, Ahmedabad, focusing on value-added yarns
Siddhi Cotspin Limited held a board meeting on August 4, 2026, to approve the Annual Report for the financial year ended March 31, 2026. The board also approved the reconstitution of the Stakeholders' Relationship Committee, appointing Ms. Drashti Solanki (Independent Director) as the new Chairperson, replacing Mr. Aayush Shah. The meeting was brief, concluding within 30 minutes. This is a routine administrative filing following the end of the fiscal year.
- Approved the Audited Standalone Financial Statements for the year ended March 31, 2026.
- Reconstituted the Stakeholders' Relationship Committee effective August 4, 2026.
- Appointed Ms. Drashti Solanki, an Independent Director, as the Chairperson of the committee.
- The board meeting was conducted in a 30-minute window from 3:00 PM to 3:30 PM.
Financial Performance
Revenue Growth by Segment
Total operating income grew by 187.78% YoY, rising from INR 201.85 Cr in FY23 to INR 580.89 Cr in FY24. Growth continued into 9MFY25 with the company achieving INR 650 Cr in revenue, surpassing the entire previous fiscal year's performance within nine months.
Geographic Revenue Split
Not disclosed in available documents, though manufacturing is centralized in Ahmedabad, Gujarat.
Profitability Margins
Net profit margin moderated from 2.99% in FY23 to 2.02% in FY24. Despite the margin dip, absolute PAT increased by 94.38% from INR 6.05 Cr to INR 11.76 Cr due to massive scale expansion.
EBITDA Margin
EBITDA margin declined from 13.61% in FY23 to 6.01% in FY24. This 760 bps reduction was a strategic trade-off to secure higher order volumes and increase market share.
Capital Expenditure
The company utilized INR 53.39 Cr from IPO proceeds for working capital (INR 25.10 Cr allocated) and debt repayment (INR 8.96 Cr allocated) to support its expanded scale.
Credit Rating & Borrowing
Ratings were upgraded in April 2025 to IVR BBB/Stable for long-term facilities (INR 55.94 Cr) and IVR A3+ for short-term facilities (INR 4.00 Cr), reflecting an improved financial risk profile.
Operational Drivers
Raw Materials
Cotton is the primary raw material, accounting for the bulk of manufacturing costs for specialty cotton yarn.
Import Sources
Sourced locally from Ahmedabad, Gujarat, which is a major cotton-growing belt in India.
Capacity Expansion
Current installed capacity is ~9,012 MT per annum at the Dholi Integrated Spinning Park in Ahmedabad.
Raw Material Costs
Profitability is highly susceptible to cotton price volatility; however, the company employs an order-backed procurement policy to mitigate price risk.
Manufacturing Efficiency
Average fund-based working capital utilization was ~74% for the 12 months ending February 2025, indicating a moderate liquidity buffer.
Logistics & Distribution
Favorable plant location in Ahmedabad enables significant savings on logistics and distribution costs.
Strategic Growth
Expected Growth Rate
49%
Growth Strategy
The company is pursuing a volume-led growth strategy, sacrificing short-term EBITDA margins (down to 6.01%) to secure larger orders and boost absolute profit levels. Growth is supported by the recent IPO which provided INR 25.10 Cr for working capital and INR 8.96 Cr for debt reduction.
Products & Services
Value-added and specialty cotton yarn.
Brand Portfolio
Siddhi Cotspin.
New Products/Services
Focus remains on value-added and specialty cotton yarn segments to differentiate from commoditized products.
Market Expansion
Expansion is driven by increasing sales volumes of yarn, as evidenced by the jump to INR 650 Cr revenue in 9MFY25.
Market Share & Ranking
Not disclosed in available documents, but operates in a highly fragmented industry.
External Factors
Industry Trends
The spinning industry is currently seeing a shift toward specialty and value-added yarns. While the industry is fragmented, Siddhi Cotspin is positioning itself through scale and location advantages in the Gujarat cotton belt.
Competitive Landscape
Intense competition from a large number of organized and unorganized players in the spinning sector.
Competitive Moat
Moat is derived from the strategic location in Ahmedabad (logistics cost advantage) and the 20+ years of promoter experience in the textile industry.
Macro Economic Sensitivity
Highly sensitive to agricultural output (cotton crop cycles) and textile industry demand cycles.
Regulatory & Governance
Industry Regulations
Operations are subject to textile manufacturing standards and pollution norms within the Dholi Integrated Spinning Park.
Legal Contingencies
Status of non-cooperation with previous credit rating agencies is Nil; no major pending litigation mentioned.
Risk Analysis
Key Uncertainties
Volatility in raw material (cotton) prices and yarn prices poses a significant risk to profitability margins.
Geographic Concentration Risk
Manufacturing is 100% concentrated in Ahmedabad, Gujarat.
Third Party Dependencies
Dependent on local cotton farmers and traders for raw material supply.
Technology Obsolescence Risk
The company utilizes specialty spinning technology; failure to upgrade could impact the 'value-added' product positioning.
Credit & Counterparty Risk
Liquidity is adequate with a current ratio of 1.59x and satisfactory debt protection metrics (Total Debt/GCA at 4.42 years).
