SBC Exports Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2025 • Revenue from Trading of Garments: 57.9% • IT & Manpower Supply: 42.1%
AI Sector View
AI GENERATEDTextiles
This sector relies on indirect export proxies rather than direct textile production data. Exports of goods rose 15.0% YoY (2026-06), the currency is weak at 95.23 (Sep/26), and export prices are 163.50, all of which can help exporters, though terms of trade at 102.30 are below the prior 114 in the snapshot context. FPI flows are modestly positive at INR 256 crore over 3 months to 2026-08-31, so the stance is mildly constructive but confidence is capped due to proxy reliance.
PROS
- Company has delivered good profit growth of 56.4% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 23.6%
- Company has a healthy return on capital (ROCE) of 21.9%
- Latest quarter profit grew 177.2% YoY, showing strong momentum
- Company has delivered good sales growth of 16.1% CAGR over last 5 years
- Operating margins have improved to 7.5% from 3.9%
CONS
- Company has a high debt-to-equity of 2.40x
- Operating cash flow has been negative in recent years
- A large part of profit comes from other income (51.7% of PBT)
- Promoter holding has decreased over last 2 years: -13.3pp
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -2.64x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| PAGEIND | 35600.00 | 52.54 | 39707.79 | 1.54 | 192.81 | -3.98 | 1420.45 | 7.89 | 73.60 | 20.35 |
| KPRMILL | 1157.40 | 43.36 | 39561.55 | 0.43 | 258.54 | 21.55 | 1935.52 | 14.77 | 20.16 | 19.37 |
| WELSPUNLIV | 198.10 | 67.41 | 18715.55 | 0.05 | 162.61 | 82.09 | 2795.45 | 23.66 | 15.04 | 11.53 |
| VTL | 602.40 | 20.57 | 17444.11 | 0.83 | 314.56 | 51.46 | 2703.08 | 13.31 | 8.91 | 18.11 |
| ARVIND | 557.55 | 36.62 | 15167.63 | 0.81 | 57.77 | 5.61 | 2500.96 | 24.65 | 15.30 | 9.64 |
| MANYAVAR | 547.25 | 33.00 | 13296.98 | 1.42 | 66.90 | 37.31 | 267.95 | 22.74 | 33.92 | 45.53 |
| PGIL | 2349.25 | 34.97 | 10851.31 | 0.62 | 99.23 | 51.37 | 1528.26 | 24.46 | 22.42 | 10.72 |
| SWANCORP | 289.20 | 40.55 | 9065.17 | 0.05 | -35.99 | -233.33 | 1013.75 | -16.44 | 4.50 | -0.38 |
| ICIL | 433.35 | 56.88 | 8582.68 | 0.35 | 63.22 | 67.28 | 1206.96 | 25.89 | 8.73 | 11.88 |
| GARFIBRES | 836.60 | 38.89 | 8169.26 | 1.08 | 64.60 | 21.56 | 482.37 | 31.35 | 20.98 | 18.70 |
| KUSUMGAR | 566.15 | 60.53 | 5944.09 | 0.00 | 426.47 | — | 2472.47 | — | 26.15 | 30.50 |
| SBC | 42.05 | 49.58 | 2002.38 | 0.00 | 9.60 | 176.93 | 121.08 | 67.09 | 18.09 | 10.83 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 50 | 31 | 48 | 63 | 57 | 48 | 50 | 76 | 61 | 65 | 70 | 105 | 106 | |
| 44 | 27 | 44 | 59 | 51 | 43 | 48 | 72 | 56 | 55 | 61 | 100 | 97 | |
| Operating Profit | 5 | 4 | 4 | 4 | 6 | 5 | 2 | 4 | 5 | 10 | 10 | 5 | 13 |
| OPM % | 10.36% | 11.78% | 7.97% | 6.18% | 10.39% | 11.34% | 3.06% | 4.92% | 8.38% | 15.12% | 13.89% | 4.34% | 11.90% |
| Other Income | 1 | 0 | 1 | 2 | 1 | 2 | 4 | 1 | 0 | 3 | 4 | 5 | 4 |
| Interest | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 4 | 3 | 3 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 5 | 2 | 3 | 3 | 5 | 5 | 3 | 3 | 3 | 10 | 9 | 6 | 13 | |
| Tax % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.68% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 24.84% |
| Net Profit | 5 | 2 | 3 | 3 | 5 | 5 | 3 | 3 | 3 | 10 | 9 | 6 | 9 |
| 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Equity Capital | 21 | 21 | 21 | 32 | 32 | 32 | 32 | 48 | 48 | 48 | 48 | 48 | 48 |
| Reserves | 18 | 21 | 24 | 12 | 19 | 24 | 27 | 7 | 9 | 21 | 30 | 28 | 36 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 21 | 29 | 64 | 80 | 110 | 130 | 168 | 188 | 191 | 232 | 346 | |
| 21 | 28 | 62 | 77 | 105 | 126 | 160 | 178 | 174 | 214 | 313 | |
| Operating Profit | 0 | 1 | 2 | 3 | 4 | 5 | 8 | 13 | 21 | 26 | — |
| OPM % | 1 | 3 | 3 | 4 | 4 | 4 | 5 | 7 | 11 | 11 | — |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 4 | 9 | 16 |
| Interest | 0 | 0 | 0 | 1 | 1 | 2 | 2 | 2 | 7 | 8 | 12 |
| Depreciation | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| 0 | 1 | 1 | 2 | 2 | 3 | 6 | 9 | 13 | 17 | 39 | |
| Tax % | 35 | 35 | 33 | 28 | 34 | 28 | 39 | 26 | 27 | 28 | 8 |
| Net Profit | 0 | 0 | 1 | 1 | 1 | 2 | 3 | 7 | 9 | 12 | 36 |
| EPS | 0 | 0 | 0 | 0 | 1 | 2 | 0 | 0 | 0 | 0 | — |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 16 | 17 | 0 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 0 | 1 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 16%
- 3 Years:
- 11%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 56%
- 3 Years:
- 52%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 64%
- 1 Year:
- 116%
RETURN ON EQUITY
- 10 Years:
- 31%
- 5 Years:
- 19%
- 3 Years:
- 24%
- Last Year:
- 24%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 0 | 0 | 0 | 8 | 11 | 11 | 21 | 21 | 32 | 48 |
| 0 | 0 | 1 | 5 | 10 | 12 | 5 | 13 | 12 | 7 | |
| 0 | -0 | 0 | 9 | 2 | 4 | 5 | 21 | 23 | 73 | |
| Trade Payables | 4 | 7 | 14 | 13 | 23 | 36 | 38 | 34 | 64 | 50 |
| 1 | 1 | 4 | 5 | 7 | 13 | 28 | 25 | 53 | 79 | |
| Total Liabilities | 5 | 9 | 19 | 40 | 53 | 76 | 97 | 114 | 184 | 256 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 0 | 0 | 1 | 3 | 4 | 4 | 6 | 8 | 23 | 24 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 3 |
| 0 | 0 | 0 | 0 | 0 | 0 | 3 | 5 | 14 | 13 | |
| 1 | 3 | 7 | 8 | 11 | 30 | 25 | 30 | 35 | 87 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 86 | 85 | |
| Cash & Bank | 0 | 0 | 1 | 1 | 4 | 3 | 4 | 4 | 4 | 12 |
| 3 | 5 | 9 | 27 | 33 | 38 | 59 | 68 | 20 | 32 | |
| Total Assets | 5 | 9 | 19 | 40 | 53 | 76 | 97 | 114 | 184 | 256 |
| Total Debt | 0 | 1 | 3 | 13 | 7 | 9 | 9 | 27 | 53 | 130 |
| Net Working Capital | -0 | 1 | 3 | 14 | 21 | 22 | 19 | 26 | 25 | 38 |
| Contingent Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book Value per Share | 25.48 | 58.32 | 147.58 | 16.84 | 19.50 | 21.24 | 1.25 | 1.62 | 1.39 | 1.14 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 1.00 | 1.00 | 1.00 | 1.00 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 0 | 0 | -17 | 4 | -2 | 5 | -12 | 3 | -65 | |
| Cash from Investing | -0 | -0 | -1 | -3 | -2 | -1 | -4 | -5 | -27 | -3 |
| Cash from Financing | 0 | 0 | 1 | 21 | -0 | 2 | 0 | 17 | 25 | 76 |
| 0 | 0 | 1 | 0 | 2 | -1 | 1 | 1 | 0 | 8 | |
| Free Cash Flow | 1 | 0 | -1 | -20 | 2 | -3 | 3 | -15 | -14 | -70 |
| OCF / Net Profit | 7.76 | 0.65 | 0.44 | -13.10 | 3.06 | -0.96 | 1.46 | -1.73 | 0.28 | -5.42 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 0 | -22 | -19 | -33 | -27 | -100 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 6.58 | 32.84 | 84.52 | 1.76 | 1.22 | 1.73 | 0.16 | 0.32 | 0.30 | 0.25 |
| Book Value (₹) | 25.48 | 58.32 | 147.58 | 16.84 | 19.50 | 21.24 | 1.25 | 1.62 | 1.39 | 1.14 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.05 | 0.05 | 0.00 |
| Cash EPS (₹) | 0.43 | 0.99 | 2.24 | 0.05 | 0.05 | 0.05 | 0.09 | 0.17 | 0.22 | 0.28 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 1.09% | 2.50% | 2.93% | 3.74% | 4.00% | 2.50% | 3.93% | 5.89% | 8.80% | 7.45% |
| Net Margin % | 0.31% | 1.15% | 1.32% | 1.67% | 1.18% | 0.95% | 1.67% | 3.18% | 4.84% | 5.21% |
| ROE % | 25.82% | 78.38% | 82.10% | 18.70% | 7.71% | 8.52% | 14.04% | 22.44% | 23.91% | 24.49% |
| ROCE % | 24.28% | 59.38% | 58.14% | 17.14% | 11.97% | 13.68% | 21.88% | 23.87% | 24.53% | 17.43% |
| 1.37% | 4.67% | 6.00% | 4.52% | 2.78% | 2.85% | 3.97% | 6.46% | 6.29% | 5.47% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 44 | 42 | 33 | 58 | 67 | 50 | 70 | 89 | 134 | 135 |
| Inventory Days | 25 | 30 | 31 | 35 | 32 | 39 | 49 | 47 | 61 | 97 |
| Payable Days | 66 | 75 | 65 | 70 | 67 | 93 | 92 | 83 | 118 | 110 |
| 2 | -3 | -1 | 23 | 31 | -4 | 27 | 53 | 77 | 122 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.66x | 1.73x | 1.91x | 1.05x | 0.33x | 0.41x | 0.35x | 0.78x | 1.19x | 2.40x |
| Interest Coverage (x) | 102.90x | 6.51x | 3.88x | 3.42x | 2.54x | 2.69x | 4.18x | 4.91x | 2.97x | 3.18x |
| 0.99x | 1.07x | 1.21x | 1.59x | 1.76x | 1.45x | 1.29x | 1.35x | 1.22x | 1.21x | |
| GROWTH | ||||||||||
| Revenue Growth % | 0.00% | 35.45% | 123.31% | 25.01% | 36.93% | 18.55% | 29.48% | 11.83% | 1.57% | 21.21% |
| Operating Profit Growth % | 0.00% | 211.95% | 161.36% | 59.59% | 46.49% | 9.45% | 68.16% | 56.56% | 63.71% | 25.45% |
| Net Profit Growth % | 0.00% | 399.09% | 157.38% | 57.94% | -3.41% | 42.36% | 86.85% | 98.73% | 37.73% | 28.43% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -8.20% | -14.37% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 45.38x | 49.76x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 14.47x | 11.05x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.25% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 33.22x | 27.67x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-27 - SBC Exports Limited has informed the Exchange regarding Schedule of the 15th Annual General Meeting.
2026-08-27 - SBC Exports Limited has informed the Exchange regarding 'Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding Appointment of Cost Auditor and Schedule of the 15th Annual General Meeting of the Company.
2026-08-20 - SBC Exports Limited has informed the Exchange regarding a press release dated August 20, 2026, titled "For decleration of the Financial Result for Quarter ended on 30th June 2026".
2026-08-12 - SBC Exports Limited has informed the withdrawal/cancellation of the proposed Preferential Issue of 27516513 Equity Share of the face value of INR 1 each at an price of INR 36.00, upon the conversion unsecured Loan of INR 99,05,94,474/- only, to promoters and promoter Group on a preferential basis and all ancillary Resolutions related thereof earlier approved by the Board of Directors at its meeting held on 29th May, 2026.
2026-08-12 - SBC Exports Limited has informed the withdrawal/cancellation of the resolution relating to the issuance of equity shares to promoters and promoter Group by conversion of existing unsecured loans on a preferential basis and all ancillary Resolutions related thereof approved by the Board at its meeting held on 29th May, 2026.
2026-08-12 - Outcome of Board Meeting for unaudited Standalone and Consolidated Financial Result of the Company for the Quarter ended on June 30, 2026,
2026-07-27 - SBC Exports Limited has informed the Exchange about Bagging/Receiving of orders/contracts from Ministry of Electronics and Information Technology through (NICSI). for an amount of Rs. 52,19,862/
2026-07-10 - SBC Exports Limited has informed the Exchange about Certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the Quarter Ended on 30th June, 2026.
2026-07-02 - SBC Exports Limited has informed the Exchange about Bagging/Receiving of orders/contracts from Mahamana Pandit Madan Mohan Malaviya Cancer Centre & Homi Bhabha Cancer Hospital (MPMMCC), Banaras Hindu University (BHU), Varanasi amounting approx 32cr.
News
Recent coverage and analyst commentary for SBC
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