SP Apparels Limited, a prominent player in the textile industry, has announced a significant addition to its leadership team. The company's Board of Directors has approved the appointment of Mr. Srinivas Chidambaram (DIN: 00514665) as a Non-executive Independent Director for a term of five years, commencing from November 12, 2025, subject to shareholder approval.

Extensive Corporate Experience

Mr. Chidambaram brings a wealth of experience to SP Apparels, with over 35 years in the corporate world. Notably, he has spent more than 27 years specializing in private equity, a background that promises to add valuable financial acumen to the company's board.

Investment Expertise

Throughout his career, Mr. Chidambaram has been involved in investments exceeding $600 million across more than 30 companies. His investment portfolio spans various sectors, including IT, Healthcare, Fintech, Financial Services, Manufacturing, and Infrastructure. This diverse experience is expected to provide SP Apparels with insights into multiple industries and potential growth opportunities.

Board Approval and Compliance

The appointment was approved at a Board meeting held on November 14, 2025. In compliance with regulatory requirements, SP Apparels has disclosed this information to the stock exchanges, as per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Details of the Appointment

Independence and Expertise

The company has confirmed that Mr. Chidambaram does not have any relationship with the existing Directors or Key Managerial Personnel of SP Apparels. This independence is crucial for maintaining objectivity in board decisions. Additionally, SP Apparels has affirmed that Mr. Chidambaram is not debarred from holding the office of director by virtue of any SEBI order or any other such authority.

Implications for SP Apparels

The appointment of Mr. Chidambaram is expected to enhance the company's strategic decision-making capabilities, particularly in areas of finance and investment. His extensive experience in private equity and involvement in diverse sectors may help SP Apparels in identifying new growth avenues and optimizing its financial strategies.

As SP Apparels continues to navigate the competitive textile industry landscape, the addition of Mr. Chidambaram to its board signals the company's commitment to strengthening its governance and strategic planning capabilities.

SP Apparels Limited , a leading textile manufacturer, has reported a strong financial performance for the second quarter of fiscal year 2026, with significant growth in revenue and profitability.

Key Financial Highlights

• Consolidated net profit jumped 58.3% year-over-year to ₹347.00 million, up from ₹219.20 million in Q2 FY25.
• Consolidated revenue grew by 10.3% to ₹4,273.43 million, compared to ₹3,936.80 million in the same quarter last year.
• EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) rose to ₹704.50 million, marking a substantial 35.3% increase from ₹520.70 million in Q2 FY25.
• EBITDA margin expanded to 16.5% from 13.2% in the corresponding quarter of the previous year.
• Earnings per share (EPS) for the quarter improved to ₹13.80, up from ₹8.70 in Q2 FY25.

Segment Performance

The company's performance across various segments showed positive trends:

• The Garment Division, including Young Brand Apparel, reported revenue of ₹3,892.10 million with an adjusted EBITDA of ₹665.50 million, maintaining a healthy EBITDA margin of 17.1%.
• SP Retail Ventures Limited contributed revenue of ₹216.80 million with an EBITDA of ₹5.30 million.
• SP Apparels UK (P) Limited generated revenue of ₹179.90 million and an EBITDA of ₹11.30 million.

Operational Highlights

• Export volumes increased significantly, with sales quantity reaching 18.9 million pieces compared to 15.3 million pieces in Q2 FY25.
• The company maintained strong operational efficiency, reflected in the improved EBITDA margins.

Balance Sheet and Cash Flow

As of September 30, 2025, SP Apparels reported:

• Total assets of ₹13,440.40 million, up from ₹12,688.70 million as of March 31, 2025.
• A robust equity position with total equity of ₹8,957.07 million.
• Healthy cash and cash equivalents of ₹342.49 million.

The company's cash flow from operating activities for the half-year ended September 30, 2025, stood at ₹990.89 million, indicating strong operational cash generation.

Management Commentary

P. Sundararajan, Managing Director of SP Apparels Limited, commented on the results: "We are pleased with our performance this quarter, which demonstrates the resilience of our business model and the effectiveness of our strategic initiatives. The significant growth in profitability and improved margins reflect our focus on operational excellence and cost management. We remain committed to delivering value to our shareholders and maintaining our growth trajectory."

Future Outlook

While the company has not provided specific forward-looking statements, the strong performance in Q2 FY26 positions SP Apparels well for continued growth. The increased export volumes and improved operational efficiencies suggest a positive outlook for the coming quarters.

Investors and analysts will likely watch for the company's ability to maintain its growth momentum and further improve its margins in the face of global economic uncertainties and potential fluctuations in raw material costs.

SP Apparels Limited continues to strengthen its position in the textile industry, leveraging its manufacturing capabilities and diverse product portfolio to drive sustainable growth.