Banswara Syntex Limited

18.6%

ndustry on the back of subdued demand in both domestic and global markets. Our topline witnessed a 18.6% de-growth in H1FY24 on a YoY basis. The decline is attributed towards inflationary pressure, geop

Rs. 618.6

the overall performance of the company and industry at large.” 4 H1FY24 Highlights Total Income* Rs. 618.6 cr EBITDA* Rs. 60.3 cr Yarn Key Highlights  For H1FY24, yarn sales declined by 13% YoY to Rs 2

Rs. 60.3

e of the company and industry at large.” 4 H1FY24 Highlights Total Income* Rs. 618.6 cr EBITDA* Rs. 60.3 cr Yarn Key Highlights  For H1FY24, yarn sales declined by 13% YoY to Rs 264 cr owing to a lowe

13%

ome* Rs. 618.6 cr EBITDA* Rs. 60.3 cr Yarn Key Highlights  For H1FY24, yarn sales declined by 13% YoY to Rs 264 cr owing to a lower demand coupled with pricing pressure in spinning mills  Despit

Rs 264

8.6 cr EBITDA* Rs. 60.3 cr Yarn Key Highlights  For H1FY24, yarn sales declined by 13% YoY to Rs 264 cr owing to a lower demand coupled with pricing pressure in spinning mills  Despite the lower dem

6%

n spinning mills  Despite the lower demand and pricing pressure, the company witnessed a rise of 6% in sales volume on a YoY basis  The company is exploring opportunities in terms of new product de

21%

king its presence in the Southern India and Europe Fabric  For H1FY24, fabric sales declined by 21% YoY to Rs 209 cr  Demand for fabrics in the domestic market and the Middle-East remained steady

Rs 209

esence in the Southern India and Europe Fabric  For H1FY24, fabric sales declined by 21% YoY to Rs 209 cr  Demand for fabrics in the domestic market and the Middle-East remained steady while demand in

Rs. 45.9

mand in H2FY24 as retailers are expected to continue to de-stock their inventories Garment PBDT Rs. 45.9 cr  For H1FY24, garment sales declined by 24% YoY to Rs 139 cr on account of subdued demand from d

24%

to de-stock their inventories Garment PBDT Rs. 45.9 cr  For H1FY24, garment sales declined by 24% YoY to Rs 139 cr on account of subdued demand from domestic and global retailers.  The demand fo

Rs 139

their inventories Garment PBDT Rs. 45.9 cr  For H1FY24, garment sales declined by 24% YoY to Rs 139 cr on account of subdued demand from domestic and global retailers.  The demand for trousers is p

47%

FY24 onwards Other Highlights  Export sales contribution to the overall sales has come down from 47% to 40% in H1FY24 on a YoY basis.  The decline is mainly due to slowdown in Europe, Turkey, US an

“We are constantly looking for more opportunities in core spun/value added or knit based yarn in these unexplored markets” Yarn Business Outlook  Expect company to clock stable topline for H2FY24  Rs.”

“02 Potential Partnerships  To shorten lead times by partnering with garment manufacturers in the leading Asian manufacturing hubs such as Bangladesh Myanmar, Sri Lanka, Vietnam  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 03 Target Markets”

“24 crores capex for FY24 to boost production and efficiency  Expect second half of the fiscal to perform better as compared to H1FY24  Banswara will set its foothold in the worsted fabric market and will cater to domestic and export regions Rs.”

“TARGET EXPORT MARKETS Acquisition of new customers in the export Markets.”

“The UK FTA poses a lucrative opportunity to grow our exports” Garment Business Outlook  Expect garment vertical to perform well H2FY24 as compared to H1FY24.”

“The performance will be attributed towards de-stocking in western markets.”

Raw Material Consumption

1

Employee Cost

1

Power Cost

1

Finance Cost

1

Other Expenditure

1

Capex Done

1

Potential partnerships with synergistic benefits

1

USA

1

Europe

1

Japan and South Korea

1

Raw Material Consumption

 The raw material consumption is at similar levels on a Q-O-Q basis 318.1 408.0 -22.0% 306.1 3.9% 624.2 766.5 -18.6% 1513.4 Other Income Total Income Total Expenditure Raw materials Cost Employee Expense Power & Fuel Other Expenses EBIDTA Margin % Depreciation Finance Cost Exceptional Item (Gain) / Loss PBT Tax PAT PAT Margin % EPS (Rs) 136.7 175.3 122.2 71.0 38.5 41.9 30.0 9.4% 10.7 7.6 0.0 11.7 3.0 8.8 74.6 54.2 52.4 51.4 12.6% 10.5 7.8 0.0 33.2 -1.9 35.1 -41.6% 67.6 42.3 43.8 30.2 9.9% 10.5 6.7 0.0 258.9 321.7 138.6 139.7 80.8 85.7 60.3 -0.6% 106.2 100.5 20.3 15.4 0.0 -64.7% 12.9 -9.4% 3.3 -75.1% 9.620 -9.0% 21.2 14.3 0.0 24.7 6.3 18.4 2.9% 98.3 -38.7% 212.7 9.7% 12.8% 62.6 -60.6% 140.2 8.4 28.8 54.2 -66.1% 111.4 7.1% 7.4% 628.8 286.3 192.2 193.4 14.1% 40.8 31.7 0.0  The consumption is lower on a YoY basis due to higher prices of raw material and product mix

Employee Cost

 The cost has increased on a QoQ basis on the back of rise in production of garment during Q2 by ~12%  Lower production base value and product mix has impact on increase in % to production value over previous year

Power Cost

 Coal Prices in Q2 has softened and the company started to consume High GCV coal  Special fuel charges were levied by the AVVNL at Rs 73 Lacs in Q2FY24 against Rs 1.63 Crores in Q1FY24.

Finance Cost

   The increase in interest cost is due to rise in working capital facilities by 7.67 crore during the quarter. In Q2FY24, an additional term loan of Rs. 16.18 crores disbursed The interest cost is lower on a YoY basis due to optimum utilization of working capital facilities

Other Expenditure

 Other expenses are in line with the operations on a QoQ basis 6 2.8% 8.6% 3.1% 2.6 10.3 -75.0% 2.8 -8.9% 5.4 15.8 -66.1% 32.6 Production Value 308.6 419.3 310.9 619.5 799.9 1537.8 Standalone Balance Sheet Asset (Rs. in Crs) Non-current assets Property, Plant & Equipment Right of use assets Capital Work in progress Intangible assets Intangible Assets under development Financial Assets Investments Others Income Tax Asset (Net) Other non-current assets Current assets Inventories Financial Assets Investments Trade receivables Cash & cash Equivalent Other bank balance Loans Others Other current assets Total Assets Sep-23 Mar-23 Equity & Liabilities (Rs. in Crs) Sep-23 Mar-23 473.3 376.4 4.9 41.9 1.3 0.1 7.8 8.0 17.6 15.4 564.2 311.8 0.1 184.2 7.5 6.0 2.0 6.5 46.1 1,037.5 444.4 362.8 5.3 21.8 1.5 0.1 5.8 7.7 17.5 21.9 624.1 313.9 0.1 212.1 14.6 22.6 2.4 9.8 48.6 1,068.5 Equity Equity share capital other equity Non-current liabilities Financial Liabilities Borrowings Lease Liabilities Provi

Capex Done

H1FY24 3,060 Tonnes / month Rs. 28 Crs. Weaving- 3.2Mn Meters/ month Processing- 4.5Mn Meters/ month Rs. 18 Crs. Weaving Unit GARMENTS 3,25,000 Trouser & Suiting's/ Month 80,000 Jackets & Waste Coats/ month Rs. 5 Crs. Garmenting Unit POWER GENERATION 33 MW / Year (18 MW + 15 MW) Rs. 0.8 Crs. The Company owns • • ~1,51,000 Spindles 464 Looms Over Rs. 704 crores towards expansion and modernization between FY 2010 – March 2023 12 Strategically Located Facilities 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 Maps not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, ti