S.P. apparels reports strong Q2 FY26 performance, expands Sri Lanka operations

S.P. Apparels Limited delivered a strong performance in Q2 FY26, with consolidated total revenue reaching INR 427 crores, a 9.2% year-on-year increase. EBITDA grew by 28.1% year-on-year to INR 63.7 crores, achieving an EBITDA margin of 14.9%. PAT saw a significant rise of 58.4% year-on-year, totaling INR 34.7 crores. The garment division, including Young Brand Apparel, recorded an adjusted revenue of INR 389 crores, up 10.2% year-on-year, with an adjusted EBITDA of INR 66.6 crores.

The company's retail division achieved a positive EBITDA of INR 53 lakhs in Q2 FY26, a significant turnaround from a loss of INR 88 lakhs in Q2 FY25, with revenue at INR 21.7 crores. The SPUK division also turned profitable, reporting a positive EBITDA of INR 1.1 crores. S.P. Apparels is strategically expanding its Sri Lanka operations, targeting INR 50 crores for this year and over INR 100 crores for FY26-27, aiming for 2,000 machines by FY27. Despite U.S. tariff challenges, the company expects to maintain Q2 results for Q3 and Q4, anticipating a consolidated EBITDA margin of 15% for the full year.