Banswara Syntex Ltd. — Investor Presentation 2025

Nov 10, 2025

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Banswara Syntex Limited

Investor Presentation November 2025

Safe Harbor

This presentation has been prepared by and is the sole responsibility of Banswara Syntex Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form part of any offer or invitation or inducement to sell or issue, or any solicitation of any offer or recommendation to purchase or subscribe for, any securities of the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment thereof. In particular, this presentation is not intended to be a prospectus or offer document under the applicable laws of any jurisdiction, including India. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. There is no obligation to update, modify or amend this communication or to otherwise notify the recipient if the information, opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Certain statements contained in this presentation that are not statements of historical fact constitute “forward-looking statements.” You can generally identify forward looking statements by terminology such as “aim”, “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “objective”, “goal”, “plan”, “potential”, “project”, “pursue”, “shall”, “should”, “will”, “would”, or other words or phrases of similar import. These forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forwardlooking statements or other projections. Important factors that could cause actual results, performance or achievements to differ materially include, among others: (a) our ability to successfully implement our strategy, (b) our growth and expansion plans, (c) changes in regulatory norms applicable to the Company, (d) technological changes, (e) investment income, (f) cash flow projections, and (g) other risks.

This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. The Company may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such change or changes.

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Q2 & H1 FY26 Highlights

Message from Vice - Chairman

Commenting on the Results, Mr. Ravindra Kumar Toshniwal, Vice - Chairman said

“During the quarter, the company delivered a notable sequential improvement across financial metrics. Total income increased 12.2% QoQ to Rs 347.4 crore, supported by improved realizations and better capacity utilization. EBITDA grew 53% QoQ to Rs 33.6 crore, while PAT turned positive at Rs 7 crore, reflecting stronger cost control, operating leverage, and improved business momentum.

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H1 FY26 reflected a steady and disciplined performance, driven by focused cost management, and continued emphasis on value-added products. Total income grew 6% YoY to Rs 657.1 crore, with EBITDA at Rs 55.5 crore and PAT at Rs 5.6 crore, underscoring consistent progress in profitability despite a subdued Q1. The performance highlights the company’s ongoing efforts to enhance operational efficiency, optimize product mix, and strengthen customer relationships across key markets.

The Yarn Division remained steady through the half year, by continuously focusing on value-added products. Capacity utilization remained healthy, demonstrating operational resilience in a challenging market environment.

The Fabric Division reported robust momentum during both Q2 and H1, led by healthy domestic demand and growing traction across international markets. The company’s flagship brands Simone Frederico, Figli, continued to strengthen their presence across the Middle East and Asian markets, while Siro collection gained encouraging response internationally contributing meaningfully to growth.

The Garment Division maintained stability, supported by a healthy order pipeline and consistent capacity utilization. While Q3 is expected to remain moderate amid prevailing market conditions, a gradual recovery is anticipated from Q4 as demand stabilizes.

Overall, the company remains confident of sustaining growth momentum in the second half of the year, supported by operational discipline, a diversified product portfolio, and continued customer engagement. Focus remains on maintaining profitability, driving value-added growth, and delivering sustainable longterm value for all stakeholders.”

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Q2 & H1FY26 Financial Highlights

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Rs Cr
Total Income EBITDA PAT
345.2 347.4 33.6 7.0
309.6
28.5
5.1
21.9
-1.4
Q2FY25 Q1FY26 Q2FY26 Q2FY25 Q1FY26 Q2FY26
Q2FY25 Q1FY26 Q2FY26
Total Income EBITDA PAT
657.1 55.5 6.1
619.9 5.6
49.3
H1 FY25 H1 FY26 H1 FY25 H1 FY26 H1 FY25 H1 FY26
Q2 FY26
H1 FY26
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*includes other income & Excludes OCI

Division-wise Matrices

Yarn

Rs. In Crs	Q2FY26	Q2FY25	YoY	Q1FY26	QoQ	H1FY26	H1FY25	YoY
Revenue	112	123	-9%	110	2%	222	223	-
Sales Volume (Lakh KGs)	49	54	-9%	51	-4%	100	99	1%
Capacity Utilization (%)	81%	88%		70%		75%	84%

Fabric

Rs. In Crs	Q2FY26	Q2FY25	YoY	Q1FY26	QoQ	H1FY26	H1FY25	YoY
Revenue	149	132	13%	117	27%	266	245	9%
Sales Volume (Lakh Mtrs)	59	57	4%	50	19%	109	107	2%
Capacity Utilization (%)	77%	78%		70%		73%	74%

Garment	Rs. In Crs	Q2FY26	Q2FY25	YoY	Q1FY26	QoQ	H1FY26	H1FY25	YoY
	Revenue	80	83	-4%	75	7%	155	137	13%
	Sales Volume (Lakh Pcs)	11	13	-17%	9	20%	20	20	-
	Capacity Utilization (%)	78%	48%		78%		78%	47%
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Division-wise Performance Highlights

Yarn

• Yarn revenue stood at Rs 112 crore in Q2 FY26, supported by sales volume of 49 lakh kgs and capacity utilization of 81%

• Sales in the division remained stable despite higher production losses, supported by effective inventory management and a stronger focus on value-added yarns. The increase in production loss was primarily due to labour shortages and lower inter-unit transfers on a YoY basis; however, the situation improved sequentially with better operational management and resource planning

Fabric

• Fabric revenue grew by 13% YoY and 27% QoQ to Rs 149 crore, with sales volume of 59 lakh meters and capacity utilization of 77% in this quarter

• The business delivered good growth driven by robust performance across domestic and export markets, supported by increased demand for key product lines and key geographies

• Simone Frederico, Figli and Siro collection gained solid traction globally, while new partnerships like the Uniqlo project are expected to strengthen the growth pipeline and sustain momentum in the coming quarters

Garment

• Garment revenue increased 7% QoQ to Rs 80 crore, with sales volume up 20% QoQ and capacity utilization at 78%

• The division delivered healthy growth with strong performance across domestic and key international markets despite challenging market conditions

• While business headwinds softened demand in Q2, Q3 is expected to remain moderate amid prevailing market conditions, a gradual recovery is anticipated in the coming quarters

Other Highlights

• Q2 delivered stable performance in the first half despite operational challenges, supported by efficient cost management & more focus on value-added products

• Continued focus on expanding global presence through our key brands Simone and Siro Collection, supported by successful entry into new markets internationally gives better visibility for the second half

• Despite near-term margin pressures due to competitive pricing and tariff discounts, the business remains well-positioned for recovery with improving demand momentum and strong execution capabilities

• Despite global uncertainties and US tariff impacts on the sector, our limited US exposure and strong client relationships across other markets have supported steady growth momentum

Standalone Profit and Loss Statement

Rs. in Crs. Q2FY26 Q2FY25 Y-o-Y Q1FY26 Q-o-Q H1FY26 H1FY25 Y-o-Y FY25 Revenue from Operations 344.6 342.5 305.8 650.4 613.6 1291.7 Other Income 2.9 2.6 3.8 6.7 6.3 15.8 Total Income 347.4 345.2 0.7% 309.6 12.2% 657.1 619.9 6.0% 1307.5 Total Expenditure Raw materials Cost 146.2 145.8 131.2 277.4 251.9 544.6 Employee Expense 82.5 77.4 76.5 159.1 148.5 294.6 Power & Fuel 34.8 35.8 32.6 67.4 68.2 136.6 Other Expenses 50.3 57.6 47.3 97.6 102.1 214.4 EBIDTA 33.6 28.5 17.8% 21.9 53.3% 55.5 49.3 12.7% 117.2 Margin % 9.7% 8.3% 7.1% 8.5% 7.9% 9.0% Depreciation 13.5 12.0 13.0 26.6 23.3 47.9 Finance Cost 10.6 9.4 10.8 21.3 17.5 39.6 PBT 9.5 7.1 33.0% -1.9 - 7.6 8.5 - 29.7 Tax 2.5 2.0 -0.5 2.1 2.4 8.3 PAT 7.0 5.1 36.4% -1.4 - 5.6 6.1 - 21.4 PAT Margin % 2.0% 1.5% -0.5% 0.8% 1.0% 1.6% EPS (Rs) 2.04 1.50 36.1% -0.41 - 1.63 1.78 - 6.25 Production Value 352.6 354.0 299.4 651.9 646.8 1,323.5	Rs. in Crs. Q2FY26 Q2FY25 Y-o-Y Q1FY26 Q-o-Q H1FY26 H1FY25 Y-o-Y FY25 Revenue from Operations 344.6 342.5 305.8 650.4 613.6 1291.7 Other Income 2.9 2.6 3.8 6.7 6.3 15.8 Total Income 347.4 345.2 0.7% 309.6 12.2% 657.1 619.9 6.0% 1307.5 Total Expenditure Raw materials Cost 146.2 145.8 131.2 277.4 251.9 544.6 Employee Expense 82.5 77.4 76.5 159.1 148.5 294.6 Power & Fuel 34.8 35.8 32.6 67.4 68.2 136.6 Other Expenses 50.3 57.6 47.3 97.6 102.1 214.4 EBIDTA 33.6 28.5 17.8% 21.9 53.3% 55.5 49.3 12.7% 117.2 Margin % 9.7% 8.3% 7.1% 8.5% 7.9% 9.0% Depreciation 13.5 12.0 13.0 26.6 23.3 47.9 Finance Cost 10.6 9.4 10.8 21.3 17.5 39.6 PBT 9.5 7.1 33.0% -1.9 - 7.6 8.5 - 29.7 Tax 2.5 2.0 -0.5 2.1 2.4 8.3 PAT 7.0 5.1 36.4% -1.4 - 5.6 6.1 - 21.4 PAT Margin % 2.0% 1.5% -0.5% 0.8% 1.0% 1.6% EPS (Rs) 2.04 1.50 36.1% -0.41 - 1.63 1.78 - 6.25 Production Value 352.6 354.0 299.4 651.9 646.8 1,323.5
		Total Income: • Total Income QoQ grew 12.2%, led by better realizations and product mix Gross Margins • Gross margin improved sequentially owing to a higher share of value-added products Employee expense: • The QoQ increase in employee costs reflects annual wage revisions and workforce realignment initiatives undertaken during the quarter EBITDA: • EBITDA QoQ improved by 53.3%, driven by better gross margins and higher fixed cost absorption, while YoY growth of 17.8% was supported by lower stores consumption, reduced freight costs, and ongoing cost optimization efforts Finance Cost: • Finance cost increased due to increase in working capita usage and fresh term loan disbursement	l

• Total Income QoQ grew 12.2%, led by better realizations

• and product mix

• Finance cost increased due to increase in working capital usage and fresh term loan disbursement

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Standalone Balance Sheet

Asset(Rs. in Crs)	Sep-25	Mar-25
Non-current assets	623.6	599.6
Property,Plant & Equipment	542.4	515.3
Right of use assets	4.4	4.9
Capital Work inprogress	22.1	19.5
Intangible assets	0.5	0.7
Intangible Assets under development	0.1	-
Financial Assets
Investments	10.7	10.0
Others	5.7	5.0
Income Tax Asset(Net)	26.8	26.1
Other non-current assets	10.8	18.0
Current assets	636.0	595.9
Inventories	320.3	312.6
Financial Assets
Investments	0.1	0.1
Trade receivables	243.1	201.6
Cash & cash Equivalent	0.4	3.4
Other bank balance	9.1	9.8
Loans	2.4	2.6
Others	7.4	7.9
Other current assets	53.2	57.9
Total Assets	1,259.6	1,195.5

Equity & Liabilities(Rs. in Crs)	Sep-25	Mar-25
Equity	560.5	558.4
Equityshare capital	17.1	17.1
other equity	543.4	541.2
Non-current liabilities	238.5	235.4
Financial Liabilities
Borrowings	204.5	202.5
Lease Liabilities	0.5	1.0
Provisions	9.7	6.6
Deferred tax Liabilities(tax)	21.4	22.4
Government Grant	2.4	2.8
Current liabilities	460.6	401.7
Financial liabilities
Borrowing	297.9	249.6
Tradepayable	77.0	84.3
Other Financial liabilities	63.8	48.3
Lease liabilities	1.0	1.0
Other current Liabilities	16.4	14.0
Government Grant	0.8	0.8
provisions	2.2	2.2
Current tax Liabilities(Net)	1.4	1.4
Total Liabilities	1,259.6	1,195.5

Standalone Cash Flow

(Rs. in Crores)	Sep-25	Sep-24
Operating profit before working capital changes	54.7	47.6
Changes in working capital	-30.2	-43.8
Cash generated from operations	24.5	3.8
Income Tax Refund/(Direct Taxes Paid)	3.7	4.1
Net Cash from Operating Activities (A)	20.8	-0.3
Net Cash from Investing Activities (B)	-48.8	-88.5
Net Cash from Financing Activities (C)	25.0	81.2
Net Change in cash and cash equivalents	-3.0	-7.6
Cash & Cash Equivalents at the Beginning of the Period	3.4	8.0
Cash & Cash Equivalents at the End of the Period	0.4	0.5

Key Balance Sheet Items

Net Debt* (Rs. Crores)

Debt-Equity Ratio*

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▪ The net debt has increased
by Rs 52.68 crore to Rs
508.84 crore as on 30 [th]
509 0.9
September 2025, primarily
456 0.8
on account of ongoing
0.7
capex and working capital
361 0.7
347 requirements during the
period
▪ Overall debt equity ratio
stood at 0.9x as on H1
FY26
Mar-23 Mar-24 Mar-25 Sep-25 Mar-23 Mar-24 Mar-25 Sep-25
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Debt-Equity Ratio= Total Debt / Total Shareholders funds

*Total debt includes foreign bill discounting which is part of contingent liabilities in the balance sheet

Dividend Payout History

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Dividend (%) 20% 20% 30% 30% 50% 60% 20% 20%
32.6
31.1
EPS
DPS
14.2
13.7
10.3
8.5
6.3
4.9
3.0
2.5
1.5 1.5
1.0 1.0 1.0 1.0
FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25
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The company has Consistently declared dividends Year-on-Year

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*Dividend % has been calculated using FV Rs. 5

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About Us

Our Specialty is Value Added Textiles

Our Journey

• Commenced Operations and • Started first unit of 18 MW started Yarn production with captive thermal power plant 12,500 spindles

• Started production of Madeup's and Worsted Spinning

• Started Fabric Weaving under the Brand name ‘Bantex

• Started production of Super-stretch women Fabrics

• Addition of additional processes to Vertical Integration

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• Shift towards Sustainable production through
Recycled Fabrics
1976-00 2004-06 2007-08 2011-15 2016-18 2019-25
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• Started production of Readymade Garments

• Banswara Textile Mills Ltd. (BTM), an associate firm engaged in fabric finishing activity, amalgamated with the company

• The Company entered Joint Venture with French Company ‘Carreman’

• Started production of wool & wool mixed fabrics in the brand name of SaintX for domestic supply.

• Started second unit of 15 MW captive thermal power plant.

• Entered Joint Venture with French Company TESCA (Treves SA) for Automotive Textiles

• Bought the complete stake in Carreman JV after increasing its stake to 80% in 2012

• Venturing into Long term relationships with Global brands like Peerless Clothing, Next UK and Uniqlo Japan

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Our Global Footprint

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Incorporated in the year 1976
Offering Vertically Integrated
textile solutions Europe
USA Japan
Middle East
12,000+ Employees
Corporate Office - Mumbai
Manufacturing Plants -
• Banswara, Rajasthan
In House R&D and State of • Surat, Gujarat
the art facilities • Daman Australia
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Experienced Design Teams
Design Studio in Collaboration
with Italy and France
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Consistent Dividend payout
since 2004-05
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Exports to over 65+ countries across
the Globe
Global Reach
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Long-Term Relationship with Global Customer Accreditations JV with TESCA of France for
Leading Global and Domestic and Quality Certifications Automotive fabrics
players
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Manufacturing Capabilities

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Manufacturing Capex Done:
Capacity H1 FY26
Dyeing Unit
3,060 Tonnes / month Rs. 16.69 Crs.
The Company owns
YARN
• ~1,52,800
Spindles
Weaving- 2.5 Mn Meters/ month • 463 Looms
Processing- 4.0 Mn Meters/ Rs. 36.08 Crs.
Spinning Unit
FABRICS month
Over Rs.904 crores
3,46,216 Trouser/ Month
Rs. 0.35 Crs.
91,000 Jackets/ Month towards expansion
Weaving Unit GARMENTS
and modernization
between
FY 2010 –
September 2025
33 MW / Year (18 MW + 15 MW) Rs. 0.08 Crs.
Garmenting Unit POWER GENERATION
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Strategically Located Facilities

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Quality Infrastructure connectivity through Rails, Roads and Ports ensures seamless dispatches to domestic markets and exports Easy Availability of skilled and Unskilled labour Manufacturing Facilities’ proximity to raw material suppliers ensures stable and sustainable supply Manufacturing facilities of Banswara Syntex It also ensures strong relationship with suppliers while maintaining need-based approach

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Maps not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness

Leadership Team

Late Shri. Toshniwal Founder Chairman

• Founded the Company in the year 1976. Masters in Textiles from Leeds University, UK. 56 years of experience in the textile industry.

• Ex-Chairman of Rajasthan Textile Mills Association, Ex-President of Indian Spinners Association and Ex-Chairman of the Synthetic & Rayon Textile Export Promotion Council (SRTEPC)

• Besides Banswara Syntex Ltd., he was a member of the Board of Directors of many other Companies.

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Mr. Rakesh Mehra - Chairman

• Chartered Accountant from ICAI

• 36 years experience in Textile Industry

• Responsible for the entire commercial and financial activities with an emphasis on yarn Export and Automotive Fabric Business

• Previously held the position of chairman of ‘SRTEPC’ and currently the chairman of ‘ CITI’.

- – Mr. Ravindra Kumar Toshniwal Vice Chairman

• B.Tech (Chem.) from IIT, Mumbai

• Undertaken OPM Course of Harvard University, USA

• 35 years of experience in the Textile Industry

• Responsible for the overall activities of the company with an emphasis on Fabrics Business

• Involved in Strategic decision making, drawing up of business plans and stakeholder management.

Mr. Shaleen Toshniwal - Managing Director

• Business Management from Bentley College, USA

• Chairman of MATEXIL (Manmade and Technical Textiles Export Promotion Council)

• Over 19 Years of experience in Textile Industry

• Responsible for Readymade Garment business, Thermal Power Plant operations and HR strategy of the Company.

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Board of Directors

Mr. Narendra Ambwani Independent Director

Mr. Rahul Mehta Independent Director

Mr. Ajay Sharma Independent Director

Alumnus of IIM Ahmedabad and graduated with a degree in Electrical Engineering from IIT Kanpur. He has an experience of 35+ years with Johnson & Johnson out of which 21 years as a Managing Director for Indonesia and India.

He brings over 40+ years of experience in the garment industry and holds an MBA from Jamnalal Bajaj, and Partner & MD at Creative Group since 1982. He launched iconic brands like UFO Jeans, 109F, and Portico. He is the former President and current Chief Mentor of CMAI, and the first Indian President of the IAF.

He is an MBA (Finance) from R A Poddar Institute of Management (University of Rajasthan), ICWA (Inter) and CAIIB from Indian Institute of Banking and Finance. He has over 36 years of post-qualification experience in IDBI Bank having diverse experience in areas like Corporate Finance, Finance & Accounts, Human Resources, Training, Internal Audit, Treasury, Syndication and Sourcing department

Mr. Jagdeesh Mal Mehta Independent Director

Mrs. Kavita Soni Wholetime Director

A B.A. and LLB, he has a career spanning for over 49 years.

He has an excellent track record in managing various types of companies like, Oil & Gas (Refinery), Textiles, Chemicals , Power , News Paper etc.

She has done her BA (Hons.) in Economics from St. Xavier’s College, Mumbai University in 1986. She has over three & half decade of professional experience in manufacturing, trading houses, educational institutes, charitable organizations and supporting self-help groups etc. in India and UAE. She has a varied experience in Business Administration, HR and Finance etc.

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Strong Professional Management Team

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Mr. Shailendra Pandey Head – Fabric Division

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Mr. Rahul Bhaduriya Head – Garment Division

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Ms. Kavita Gandhi Mr. Amit Nandwana
CFO CTO
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Mr. Marazban Velati
CHRO
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• MSc – Textile Chemistry and MBA in Productions and Operations

• Over 29 years of experience in the textile manufacturing industry including P/V Suiting, automotive textiles, worsted fabric and home furnishing

• Responsible for strategy and operations of the entire fabric division

• Graduate from NIFT with over 26 years of experience in the Garment industry

• Previously held positions in Arvind Ltd, Welspun India, Creative Garments and Must Garments, he is involved in Product Development, Manufacturing Operations and Quality Process

• Chartered Accountant from ICAI

• Over 32 years of experience in the field of Accounts, Taxation, and Finance

• Her last role was as Deputy CFO with Eureka Forbes Limited

• He has done his MBA  He has B.Tech with PGs from Nagpur University in Industrial Relations and is a progressive and T&D, is a certified leader with 25 years of Industrial Psychologist experience excelling in and SA8000 Auditor managing complex  He brings over 25 years technical environments of HR leadership in

• He has expertise in manufacturing with software development, expertise in solution architecture, sustainability and digital transformation, change management IT infrastructure, ERP/  He has worked with CRM consulting, several prominent

• project/program textile manufacturing

• management companies across India

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Business Divisions

Yarn Business – The Building Block

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GROWTH DRIVERS
Integration of Banswara products into
supply chains of larger brands
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Getting into Niche markets with
Product re-engineering
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Getting into volume markets with newer
products with better quality standards to
create product differentiation
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Acquisition of new brands to improve
the overall product portfolio
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Preferred Partner for the quality Focused Customers for Synthetic Blended Yarns

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Multi-specialty Yarn range
with functional features Stretch Yarns for weaving using
branded lycra and non-branded
elastane
36,720 TPA Capacity
Use of high-end branded fibers
Production of blends made of
from globally accredited suppliers
viscose staple fibre, polyester staple
and brands like Green Gold, Unifi,
fibre, acrylic staple fibre, lycra,
Liva, Eco Vero, Radianza
cotton, linen, etc.
and Durashine
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Received globally recognized certifications including– GRS (Global Recycled Standard), Oekotex, Environmental safety besides QMS, ISO & social compliance

The Company expects to clock Steady state growth in revenues

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Fabric Business – The Growth Engine

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Expansion in
Leveraging our
Current Presence Value Added
Advantages
Fabrics
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Worsted	Stretch Fabrics	Renowned player
Wool Specialties	for suiting and	with strong focus
Viscose	pants	on bed linen
PV	Fabrics for	Established
	Jackets and	business with
PV Lycra	Blazers for	global
Cotton Suiting	formal and semi	prestigious
Shirting	formal wear	clients
Automotive	Fancy jacquard	Strongproduct
Textiles	fabrics	positioning
	Technical	Continuous
	textiles	product
	Automotive	development
	textiles	through
	Bi-stretch fabrics	innovation and
	for casual wear	R&D

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Company sees favourable opportunities in production of Comfort fabric

• Flexibility in production due to best-in-class technology and state-of-art machineries

• Specialized in-house Yarn production ensure seamless flow of raw materials

• Reliability and Trust amongst big customers like Peerless Clothing, Next UK and Uniqlo due to our constant endeavor to deliver quality goods

• Constant R&D for developing value-added products to create value for both global and domestic client base

• Expertise in production of Bi-stretch and Knitted fabrics

• Versatile product mix providing a competitive edge

• Focus on production of piece dyed fabric which reduces lead times and improves our margin profile

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Fabric Business – Growth Plan

• Establishing a fabric brand to capitalize on the distribution network built over 3 decades

• Venturing into production of Knitted fabrics  Increasing the market share in production of high value-added Technical Fabrics  Evaluation of production of fabrics for Automotives and Defense applications

• 01 Improved Product Mix  Increasing the market share in production of high value-added Technical Fabrics  Evaluation of production of fabrics for Automotives and Defense applications Potential partnerships with synergistic benefits:  To shorten lead times by partnering with garment manufacturers in the leading Asian manufacturing hubs such as

• Potential Bangladesh Myanmar, Sri Lanka, Vietnam

• 02 Partnerships  Leverage our marketing abilities by partnering with established players in the women’s wear segment which will lead to incremental growth

• China+1 strategy adopted globally increases demand for Man-Made Fabrics manufactured in India USA:  Deepen penetrations within brands with special emphasis on women’s wear category Europe:  Expand our reach to larger retail brands in Europe with special emphasis on new product development

• 03 Target Markets Japan and South Korea:  Build relationships with key Brand and act as preferred supplier for stretch fabrics and premium wool fabrics UK:  Developed strategic partnerships in UK to become their preferred Supplier  FTA with UK will increase the share of Indian exports to UK substantially benefiting Banswara’s export business in all its divisions

• The Company Aims to be the Market Leader in Bi Stretch Fabrics 24

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Garment Division – Value Addition Division

GROWTH DRIVERS

Garments is one of the fastest growing divisions in the Textile industry

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COMFORT GARMENTS

Move towards manufacturing of Comfort garments made from Bi Stretch/ Knitted Fabrics

16+ years Experience in Garment manufacturing

One of the Largest manufacturer Strong international presence of specialized Formal Suits, with long term relationships with Jackets and Trouser in India with customers a 70% market share

LEVERAGE RELATIONS

Leverage the existing relationships with larger customers like Arrow, Van Heusen, Raymonds, Reliance and Arvind.

TARGET EXPORT MARKETS

Acquisition of new customers in the export Markets. Also, benefit from FTA’s and the emerging scenario due to China+ 1 strategy

State of the art machinery Specialized suit making equipment from Durkopp Adler, Germany and specialized trouser manufacturing equipment from Juki as well as Durkopp Adler, Germany

Establishing a D2C brand – One Mile solely focusing on casual and comfort wear

Flexible manufacturing Expertise in manufacturing of for small runs and made to stretch garments and Smart Casual measure Garments clothing Innovation being core identity of our fabrics division, we are up to date on Efficient operation running at the latest fashion trends via optimum capacities employing collaboration with our global design ~4,000 people in Daman and Surat teams

PRODUCT PARTNERSHIPS

Evaluate product partnerships with domestic as well as foreign Suppliers to move into manufacturing of Higher Margin products

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Domestic Clientele

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E-Commerce Clients

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International Clientele

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CSR Activities

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Creation of garden in Banswara to provide locals with a means of recreation

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Creation of a walking path of 5 KM along the edge of the lake to promotes physical health and wellbeing of the people of Banswara

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Banswara CSR fund though the NGO, supports the Football and Life Skills Program for empowering children and youth in low-income communities, to enhance their skills and foster a sense of competition

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Cleaning of lake near the garden to increase the oxygen level of the water body. This has helped in the reduction of mosquitos and has brought back migratory birds

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Creation of a learning center for migratory birds thereby developing in educational Interest of Banswara people

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Banswara is Supporting girls through the NGO program for exploring and learning different skill areas such as art, upcycling and product design, healthy cooking, photography, organic farming and theatre

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Strategic Focus and Outlook

Industry expected to grow at ~11% CAGR over the next 5 years

Indian Domestic Apparels and Textiles Market (USD bn)

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----- Start of picture text -----

191
13
10.3%
CAGR 43
106
100
90 8
7
6 20
19
17
135
67 74 78
FY18 FY19 FY20 FY26E
Home Textiles Apparels
Technical Textiles
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• Domestic textile and apparel industry faced a range of challenges post covid induced lockdowns; fall in retail sales, logistical disruptions, manufacturing shutdown and cancellation of orders

• However, post easing of the lockdowns, Industry recovered from these challenges

• The pace of recovery varied across the apparel categories mostly from low demand of occasional wear and formal wear, towards increased demand of casual wear, loungewear and inner wear due to the work from home culture.

Indian Apparels and Textiles Exports (USD bn)

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65
11.4%
CAGR
37 37
34
FY18 FY19 FY20 FY26E
----- End of picture text -----

• Indian Domestic textiles and Apparel market is expected to grow at ~10% CAGR over FY20-26E to USD 190 bn

• Indian textile and apparel Exports expected to grow at ~11% CAGR over FY20-26E to USD 65 bn

Source: Wazir Analysis, Industry Reports

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China +1 provides huge opportunity for Indian Textiles Industry

Increasing exports

Increased Domestic Production

India Textiles exports expected to grow at ~11% CAGR to reach $ 65 bn by 2026 from pre-covid level of $ 36 bn in 2019

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Growing opportunities

China +1 provides

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enormous opportunity to

India Textiles Industry to regain a leadership position as a top exporting economy

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Redistribution of global trade

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Covid-19 has led to

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redistribution of global trade shares and recalibration of

sourcing Partners

With the improvement in domestic

economy and increase in exports, Domestic Production is expected to increase substantially to meet the demand

Increasing Capex and Investments

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Capex and Investments to pick-up in the sector; productivity and industry competitiveness to improve

Favourable Industry Dynamics

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With favorable India Demographics and Industry Dynamics, India is capable to position itself as a Global Textiles hub

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Why Banswara Syntex Ltd?

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----- Start of picture text -----

Modernized outlook to textiles and fashion
01
40+ years of industry experience
Focus on export and
led by a competent leadership
domestic markets
0606 02 team
Investment
Rationale
Consistently Lowering Debt Skilled design and marketing
05 teams
03
04
Transition to Value Added
Products
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Vertical Integration - A Game Changer for Banswara

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01. Sustainability
02. Geographic Expansion
03. Economies of Scale
04. Improved Supply Chain Co-
ordination
05. Product Specialization
06. Competitive Pricing
07. Significantly Lesser Lead Times
08. Covers All Requirements –
One Stop Shop
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Operational Focus

Improvement in Capacity Utilization

Cost Optimisation Measures

Increase in Value Added Products

• Demand improvement across textile value chain across domestic and International markets

• Order book visibility is high in fabrics & garments divisions

• Target to increase own yarn consumption in fabrics

• Switched to grid power as thermal power cost has increased

• Improvement in productivity per person led to manpower cost opt capacity would help the company in significant cost savings

• Optimized travel, advertising costs

• Plants’ strategic location ensures RM & Freight cost optimization

• Structural shift in demand towards quality fabrics

• Product mix to move favorably towards value added products; to help improve overall margins

• Increase in capacity utilization to reduce overall fixed expenses (as % of sales)

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Financials

Standalone Profit and Loss Statement

Particulars (Rs. in Crores)	FY25 FY24	FY23 FY22
Revenue from Operations	1,291.7 1,264.2	1,498.8 1,189.8
Other Income	15.8 17.9	14.6 17.0
Total Income	1,307.5 1,282.1	1,513.4 1,206.7
Total Expenditure
Raw materials	544.6 556.0	628.8 526.9
Employee Expense	294.6 282.4	286.3 220.9
Power & Fuel	136.6 147.8	192.2 159.6
Other Expenses	214.4 175.4	193.4 163.4
EBITDA	117.2 120.6	212.7 136.0
EBITDA Margin %	9.0% 9.4%	14.1% 11.3%
Depreciation	47.9 43.3	40.8 41.9
Finance Cost	39.6 29.6	31.7 24.8
Exceptional Item (Gain) / Loss	0.0 0.0	0.0 2.7
PBT	29.7 47.6	140.2 72.0
Tax	8.3 12.4	28.8 25.3
PAT	21.4 35.3	111.4 46.7
PAT Margin %	1.6% 2.7%	7.4% 3.9%
EPS (Rs)	6.25 10.3	32.6 27.3

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Standalone Balance Sheet

Asset (Rs. in Crs)	Mar-25	Mar-24	Mar-24	Mar-24	Mar-23	Mar-22
Non-current assets	599.6	501.9			444.4	377.1
Property, Plant & Equipment	515.3	418.7			362.8	306.4
Right of use assets	4.9	4.5			5.3	5.7
Capital Work inprogress	19.5	19.6			21.8	28.9
Intangible assets	0.7	0.0			1.5	2.3
Intangible Assets under development	0.0	0.1			0.1	-
Financial Assets
Investments	10.0	9.5			5.8	4.7
Loans	5.0	5.5			-	-
Others	26.1	22.7			7.7	6.7
Other non current assets	18.0	20.4			21.9	22.5
Current assets	595.9	568.4			624.1	505.2
Inventories	312.6	271.5			313.9	278.9
Financial Assets
Investments	0.1	0.2			0.1	0.0
Trade receivables	201.6	207.4			212.1	126.4
Cash & cash Equivalent	3.4	8.0			14.6	18.7
Other bank balance	9.8	19.7			22.6	8.7
Loans	2.6	2.2			2.4	1.2
Others	7.9	8.4			9.8	17.5
Other current assets	57.9	51.2			48.6	53.7
Total Assets	1,195.5	1,070.3			1,068.5	882.3

Equity & Liabilities (Rs. in Crs)	Mar-25	Mar-24	Mar-23	Mar-22
Equity	558.4	534.7	509.1	400.1
Equityshare capital	17.1	17.1	17.1	17.1
other equity	541.2	517.6	492.0	383.0
Non-current liabilities	235.4	180.2	152.4	143.8
Financial Liabilities
Borrowings	202.5	148.8	123.6	106.3
Lease Liabilities	1.0	0.9	1.6	2.0
Provisions	6.6	7.1	4.1	4.0
Deferred tax Liabilities(tax)	22.4	19.7	18.7	26.1
Government Grant	2.8	3.7	4.5	5.4
Current liabilities	401.7	355.4	407.0	338.4
Financial liabilities
Borrowing	249.6	204.4	247.6	153.0
Lease Liabilities	84.3	79.9	88.4	0.6
Tradepayable	48.3	50.8	49.3	147.7
Other Financial liabilities	1.0	0.6	0.7	5.1
Other current Liabilities	14.0	14.5	16.7	25.0
Government Grant	0.8	0.8	0.8	0.8
provisions	2.2	2.9	2.1	1.8
Current tax Liabilities(Net)	1.4	1.4	1.4	4.4
Total Liabilities	1,195.5	1,070.3	1,068.5	882.3

Standalone Cash Flow

Particulars (Rs. in Crores)	FY25	FY24	FY23	FY22
Operating profit before working capital changes	116.9	112.1	208.8	133.9
Changes in working capital	-26.8	49.8	-145.2	-57.1
Cash generated from operations	90.1	161.9	63.6	76.8
Income Tax Refund/(Direct Taxes Paid)	11.0	16.7	43.4	22.6
Net Cash from Operating Activities (A)	79.1	145.2	20.2	54.2
Net Cash from Investing Activities (B)	-139.0	-93.3	-99.5	-48.0
Net Cash from Financing Activities (C)	55.2	-58.4	75.2	4.9
Net Change in cash and cash equivalents	-4.7	-6.6	-4.1	11.0
Cash & Cash Equivalents at the Beginning of the Period	8.0	14.6	18.7	7.7
Cash & Cash Equivalents at the End of the Period	3.4	8.0	14.6	18.7

Company:	Investor Relations Advisors:
Banswara Syntex Limited Strategic Growth Advisors Pvt. Ltd.
CIN: L24302RJ1976PLC001684	CIN: U74140MH2010PTC204285
Ms. Kavita Gandhi	Mr. Devraj Ghatge/ Ms. Brinkle Shah Jariwala
secretarial@banswarasyntex .com	devraj .ghatge@sgapl.net/brinkle .shah@sgapl.net
	+91 9168723907 /+91 9619385544
www .banswarasyntex.com	www .sgapl.net

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