Sumeet Industries Reports 230% Increase in H1 FY26 Net Profit
Filing Summary
Sumeet Industries Limited announced a significant financial performance for the first half of FY26, with a 230% increase in net profit and a 243% rise in EPS compared to the previous year. The company reported a total income of ₹521 crore, marking a 2.35% year-on-year growth. The Board has approved a capacity expansion of 30,000 tonnes per annum for value-added synthetic yarns, with an investment of ₹75 crore. Additionally, a 14 MW solar power plant has been commissioned to reduce energy costs. These developments reflect Sumeet Industries’ strategic focus on growth and sustainability.
Sumeet Industries Limited has reported a substantial increase in its financial performance for the first half of FY26. The company achieved a 230% rise in net profit and a 243% increase in EPS compared to the same period last year. The total income for H1 FY26 stood at ₹521 crore, reflecting a year-on-year growth of 2.35%. The EBITDA was reported at ₹31 crore, with an EBITDA margin of 5.98%, showing a growth of 597 basis points year-on-year. The Profit After Tax margin was 3.42%, with a growth of 236 basis points.
The company has outlined a strategic expansion plan, with the Board approving a capacity increase of 30,000 tonnes per annum for value-added synthetic yarns. This expansion involves an investment of ₹75 crore. The initiative is expected to enhance the company’s scale and profitability in the synthetic yarn segment. Additionally, Sumeet Industries has commissioned a 14 MW solar power plant under a captive model, which is anticipated to lead to significant savings in power costs.
Sumeet Industries is engaged in the production of Pet Chips, Partially Oriented Yarn (POY), Fully Drawn Yarn (FDY), and Polyester Texturized Yarn. The company has been focusing on operational discipline and optimization initiatives to sustain margins in a competitive market environment. The strategic expansion and sustainability initiatives are part of the company’s efforts to strengthen its presence in the value-added synthetic yarn space.
The company has also been advancing its energy efficiency and sustainability initiatives. A 17 MW solar power project is being set up to meet part of its energy requirements, aimed at reducing power costs and improving operational competitiveness. Sumeet Industries is also focusing on developing value-added yarns, including Bright and Nylon Yarns, to expand its product range and cater to diverse applications within the domestic textile industry.
In FY25, Sumeet Industries recorded revenue of ₹1,006 crore, an EBITDA of ₹15 crore, and a Profit After Tax (including exceptional items) of ₹170 crore. The company continues to focus on enhancing its operational capabilities and expanding its market presence through strategic investments and sustainability initiatives.
Sumeet Industries Limited, incorporated in 1988, is a Surat-based integrated polyester manufacturer. The company has been taken over by the Eagle Group, a successful resolution applicant, following an order by the Hon’ble NCLT dated 16 July 2024. The promoters of Eagle Group bring over 30 years of experience in the textile industry, providing strong operational and strategic expertise to the company.