Banswara Syntex , a leading textile manufacturer, has reported a 12.7% year-on-year growth in total income for the first quarter, despite facing operational challenges. The company's financial results, released on August 6, highlight mixed performance across its divisions, with the garment segment emerging as a standout performer.

Financial Highlights

• Total income rose to Rs 309.60 crore, up from Rs 274.70 crore in the same period last year
• EBITDA stood at Rs 21.90 crore, with a margin of 7.1%
• The company reported a net loss of Rs 1.40 crore, attributed to unforeseen operational challenges

Divisional Performance

Yarn Division

• Revenue increased by 10% year-on-year to Rs 110.00 crore
• Sales volume grew by 13% to 51 lakh kgs
• Capacity utilization remained below optimal due to labor shortages

Fabric Division

• Revenue grew modestly by 4% to Rs 117.00 crore
• Sales volume remained flat at 50 lakh meters
• Capacity utilization held steady at 70%

Garment Division

• Emerged as the strongest performer with 42% revenue growth to Rs 75.00 crore
• Sales volume increased by 29% year-on-year
• Capacity utilization improved significantly to 78%

Management Commentary

Ravindra Kumar Toshniwal, Vice-Chairman of Banswara Syntex, commented on the results: "The first quarter began on a steady note for the textile industry. While policy moves like the India-UK Free Trade Agreement offer long-term promise, demand trends remained uneven in the near term."

He added, "Looking ahead, we remain committed to improving operational efficiency through better utilization levels and increased focus on value-added products. We believe that ongoing progress on the UK Free Trade Agreement could enhance our ability to tap into export markets more competitively."

Outlook

The company expects gradual normalization in the coming quarters, supported by:

• Better order visibility and improved customer engagement
• Seasonal demand from festivals and winter
• Gradual build-up of export momentum
• Focused outreach in key regions and closer customer engagement

Banswara Syntex is also exploring new opportunities in markets like Europe, particularly in Italy and France.

Corporate Updates

The Board of Directors approved changes in the designations of key executives:

• Mr. Ravindrakumar Toshniwal's designation changed from Managing Director to Vice-Chairman, effective August 7
• Mr. Shaleen Toshniwal's designation changed from Joint Managing Director to Managing Director, effective the same date

These changes are subject to shareholder approval through a postal ballot.

Despite the challenges faced in the first quarter, Banswara Syntex remains optimistic about its future prospects, particularly in the export markets and with its focus on value-added products across its divisions.

Banswara Syntex Ltd, a prominent player in the textile industry, has announced significant changes to its top leadership, effective August 7, 2025. The company's board of directors approved these changes during a meeting held on August 6, 2025, at their corporate office in Mumbai.

Leadership Transition

Ravindrakumar Toshniwal, who has been serving as the Managing Director, will transition to the role of Vice-Chairman. Simultaneously, Shaleen Toshniwal will be promoted from his current position as Joint Managing Director to take on the role of Managing Director.

Terms and Conditions

The board has stipulated that Ravindrakumar Toshniwal's new position as Vice-Chairman will be subject to retirement by rotation. Conversely, Shaleen Toshniwal's appointment as Managing Director will not be liable to retirement by rotation.

Importantly, both executives will retain their existing terms and remuneration until December 31, 2026, as previously approved by shareholders at the Annual General Meetings held on August 5, 2023, and August 6, 2024.

Executive Profiles

Ravindrakumar Toshniwal

• Age: 62
• Education: B.Tech in Chemical Engineering from IIT Mumbai, OPM course at Harvard University, USA
• Experience: 37 years in the textile industry
• Role: Overseeing overall company activities

Shaleen Toshniwal

• Age: 48
• Education: Business management graduate from Bentley College, USA
• Experience: 21 years in the textile industry
• Role: Managing readymade garments business, thermal power operations, and HR strategy

Shareholder Approval and Disclosure

The company will seek shareholder approval for these designation changes through a postal ballot. A notice will be sent to shareholders in due course and filed with the stock exchanges.

Banswara Syntex has also confirmed that neither Ravindrakumar Toshniwal nor Shaleen Toshniwal has been debarred from holding the office of Director by any SEBI order or other authority.

Financial Results and Trading Window

In the same board meeting, the company approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2025. These results will be made available to shareholders along with the Limited Review Report from the company's statutory auditors.

Following these announcements, the trading window for the company's shares will reopen on August 9, 2025, for directors, key management personnel, designated persons, and their relatives, in compliance with SEBI regulations.

These leadership changes mark a new chapter for Banswara Syntex Ltd as it continues to navigate the dynamic textile industry landscape. The transition aims to leverage the extensive experience of both Ravindrakumar and Shaleen Toshniwal to drive the company's future growth and strategic initiatives.