Singer India Limited , a renowned name in the sewing machine industry, has received a significant boost to its order book with two purchase orders totaling Rs. 202.70 crore. The orders, part of the PM Vishwakarma Scheme, involve supplying 281,128 Singer sewing machines by September 30, 2026.

Order Details

The orders come from two aggregators of Kendriya Bhandar, the Central Government Employees Consumer Cooperative Society Limited:

1. Equipzone India Private Limited
2. Antaric Merchandising LLP

Each aggregator has placed an order for 140,564 sewing machines, bringing the total to 281,128 units.

PM Vishwakarma Scheme

The PM Vishwakarma Scheme, initiated by the Indian government, aims to support and empower traditional artisans and craftspeople. As part of this scheme, Kendriya Bhandar has been selected as the L1 bidder to supply 281,128 tool kits for the tailor trade.

Contract Specifications

The purchase orders come with several key conditions:

• Quantity variation: Up to ±25%
• Government clearance requirement
• Monthly purchase order allocations

Singer India will supply complete sewing machine sets, including stands, tables, and motors. Some sets will also include Singer irons.

Timeline and Challenges

While the supply deadline for Singer India is set for September 30, 2026, the broader scheme has a completion date of June 2027. It's worth noting that the underlying contract is currently being challenged in the Delhi High Court. However, no specific order has been issued to halt supplies at this time.

Financial Impact

The total order value of Rs. 202.70 crore (inclusive of applicable GST) represents a significant opportunity for Singer India Limited. This large-scale order is expected to have a positive impact on the company's revenue and market position in the coming years.

Company Statement

In a regulatory filing, Singer India Limited stated, "This disclosure is made in accordance with the requirements of Schedule III of the SEBI LODR Regulations, as well as SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July 2023."

The company also confirmed that the order does not fall under related party transactions and that no promoter, promoter group, or group companies have any interest in the entities awarding the contract.

As Singer India Limited gears up to fulfill this substantial order, the company's performance in executing this contract will be closely watched by investors and industry observers alike.

Singer India Limited , a well-known name in the consumer durables sector, has released its fourth quarter financial results, showcasing impressive growth across key metrics.

Financial Highlights

Singer India has reported a strong performance in the fourth quarter, with significant improvements in profitability and marginal growth in revenue.

Revenue Growth

The company's revenue saw a year-over-year increase, rising to ₹1.20 billion from ₹1.10 billion in the same quarter of the previous year. This represents a growth of 9.09%, indicating a steady expansion in the company's sales.

EBITDA and Margin Improvement

One of the standout aspects of Singer India's Q4 results is the substantial growth in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). The EBITDA nearly doubled, increasing from ₹21.50 million in the previous year to ₹41.40 million in the current quarter, marking a remarkable 92.56% year-over-year growth.

This growth in EBITDA was accompanied by a significant improvement in the EBITDA margin. The margin expanded from 1.89% in the same quarter last year to 3.40% in the current quarter, an increase of 1.51 percentage points. This improvement suggests enhanced operational efficiency and better cost management by the company.

Net Profit Surge

Singer India's bottom line also showed impressive growth. The net profit for the quarter stood at ₹40.50 million, up from ₹23.00 million in the same period last year, representing a substantial increase of 76.09%.

Conclusion

Singer India's Q4 financial results demonstrate a robust performance, with strong growth in profitability metrics. The company's ability to significantly improve its EBITDA and net profit, while also achieving revenue growth, indicates effective management strategies and possibly improved market conditions for its products. As the company continues to build on this momentum, stakeholders will likely keep a close eye on future quarters to see if this growth trajectory can be maintained.