S. P. APPARELS LIMITED Share price

S.P. Apparels Limited (SPAL) is a leading manufacturer and exporter of knitted garments for infants and children in India. With the large network of factories, the Company serves as a sourcing, manufacturing and supply chain platform with a market growth headed by children and kids wear. The Company operates a vertically integrated manufacturing model spanning spinning, dyeing, processing, and garmenting, enabling consistent quality, cost efficiency, and supply chain reliability. SPAL core business is anchored by its garment division, which specializes in infant wear and children's apparel for global markets. S.P. Apparels came out with an initial public offer (IPO) in August 2016. The IPO included 80,22,388 equity shares as fresh issue and 9,00,000 equity shares by way of Offer for sale by New York Life Investment Management India Fund (FVCI) II LLC. During the financial year ended 31 March 2016, the company added 120 new sewing machines. The Processing Division achieved 85% utilization of its capacity. The embroidery and printing factories achieved 90% of their capacities during the year. The efficiency level of the factories of the Garment Division has shown improvement in the range of 5% to 10% during the year under review. The retail division has shown significant growth in terms of increase of retail stores to 40 across the country. During the year under review, the company converted 72,49,454 numbers of 6% Compulsorily Convertible Preference Shares (6% CCPS) of Rs.10/- each and issued 3,45,212 equity shares of Rs.10/- each paid up (including a premium of Rs.200/-) per share and allotted the same in favour of M/s. Euro Asia Agencies Limited, Hong Kong. During the financial year ended 31 March 2017, S.P. Apparels increased the capacity of yarn production by adding a few machines. During the year under review, the company balanced its dyeing and finishing capacities by adding a compacting machine. During the year under review, the company added 300 new sewing machines. During the year, the company's retail business grew due to increase in the number of stores and change in the product mix offered to customers. During the year under review, growth in the company's garment division was supported by the increase in capacities and increase in customer demand. Higher growth led to increase in margins. Increase in capacity of the garment division was due to setting up of new factories as also increase in capacities of the existing factories. During the year under review, the company re-aligned its product mix of the garment division. This new product mix also helped the garment division improve worker efficiency and this contributed to revenue growth of the division. The Company commenced the production of Spinning Plant in 2019. In 2023-24, the Company hived off the Retail Division into a separate entity and added 2 brands i.e., a children's brand (Angel & Rocket) a premium brand under S P Retail Ventures Limited and a brand named 'HEAD'. In FY 2025, Company acquired Young Brand Apparels, enabling entry into the women's intimate wear export segment, particularly in the USA. The Company commenced manufacturing in Sri Lanka in FY26.