Pursuant to provisions of Regulation 30 of SEBI (LODR) Regulations, 2015, please find attached Investor Presentation in connection with Audited Financial Results for the quarter and year ....
RESULTS
▲ Positive Development
MEDIUM RISK
📅 Filed on BSE: 22 Apr 2026, 04:30 PM IST · BSE ID: f3c4dd71-075f-4a9d-94f4-1ae00df6fc3b
View Original BSE Filing (PDF)
💡
In Simple Terms
Sangam India's annual profits jumped 160% to Rs. 83 Crore while revenues grew 13%, driven by cost control and better product mix.
🤖 AI Summary
- PAT surged 159.7% YoY to Rs. 83 Cr in FY26; Q4 alone saw 245.3% YoY jump to Rs. 33 Cr
- Revenue grew 12.9% YoY to Rs. 3,243 Cr; Q4 FY26 accelerated at 17.9% YoY to Rs. 880 Cr
- Gross margin held firm at 40.1% (FY26) and 40.6% (Q4); EBITDA margin expanded 109 bps to 10.1%
- Exports reached all-time high of Rs. 1,167 Cr; cash and equivalents at Rs. 195 Cr provide liquidity buffer
- Working capital cycle compressed to 55 days (FY26) from 80 days (FY25) via faster inventory turnover
🔢 Key Numbers — exact figures from BSE filing, not rounded
FY26 Revenue
Rs. 3,243 Cr
12.9%
FY26 PAT
Rs. 83 Cr
159.7%
Q4 FY26 Revenue
Rs. 880 Cr
17.9%
Q4 FY26 PAT
Rs. 33 Cr
245.3%
FY26 EBITDA
Rs. 329 Cr
26.4%
FY26 EBITDA Margin
10.1%
109 bps
FY26 Exports
Rs. 1,167 Cr
Cash & Equivalents
Rs. 195 Cr
Working Capital Cycle (FY26)
55 days
-25 days vs FY25
Net Debt-to-Equity (FY26)
0.8x
Interest Coverage Ratio (FY26)
1.5x
Dividend Approved
20% on face value
🏢 How This Affects the Company
Revenue expansion of 12.9% YoY to Rs. 3,243 Cr coupled with exports at all-time high of Rs. 1,167 Cr signals sustained domestic and global market demand. VAP segment growth and strengthened global footprint indicate successful market penetration strategy.
PAT grew 159.7% to Rs. 83 Cr with EBITDA up 26.4% to Rs. 329 Cr. EBITDA margin expanded 109 bps to 10.1%, and gross margin held at 40.1%. Net debt-to-equity improved to 0.8x in FY26 from prior levels, with interest coverage ratio at 1.5x supporting debt servicing.
Working capital cycle improved significantly to 55 days from 80 days, driven by faster inventory turnover and improved payable terms. Depreciation expense reduced 16.7% to Rs. 95 Cr, indicating capital deployment efficiency.
Interest expense increased 20.4% to Rs. 114 Cr, reflecting higher debt servicing costs. Tax rate of 26.5% (Rs. 30 Cr on PBT of Rs. 113 Cr) is normalized. Debt repayment schedule shows Rs. 144 Cr due in FY27-28; management must sustain cash generation to service this.
👥 What This Means For Shareholders
✅
Action Required
Eligible shareholders must attend shareholder meeting to vote on 20% dividend approval announced by Board on 22 April 2026.
👤
Who Is Affected
All registered shareholders as of record date will receive dividend of 20% on face value (exact amount per share subject to total dividend payout from Rs. 83 Cr FY26 PAT).
🔍
Management Signal
Board's decision to declare 20% dividend despite 20.4% increase in interest expense signals confidence in cash generation and balance sheet management going forward.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Shareholder approval of 20% dividend — check record date and ex-dividend date announcement for payment timeline
Q1 FY27 results — verify if 17.9% Q4 revenue growth sustains above Rs. 850 Cr quarterly run-rate
Debt repayment execution — track Rs. 144 Cr scheduled repayments in FY27-28 against cash flow generation
MEDIUM RISK
Rising interest expense (up 20.4% YoY) coupled with elevated net debt-to-equity of 0.8x creates leverage risk if revenue growth decelerates below 10% or working capital reverts.
💡 Investor Takeaway
FY26 delivered PAT of Rs. 83 Cr (up 159.7% YoY) on revenue of Rs. 3,243 Cr (up 12.9%), with EBITDA margin expansion of 109 bps to 10.1%. Q4 acceleration to 17.9% revenue growth and 245.3% PAT growth confirms momentum. Working capital improvement to 55-day cycle and exports at Rs. 1,167 Cr indicate operational excellence. Monitor debt repayment schedule of Rs. 144 Cr in FY27-28.
⚖️ Strengths & Concerns
✅ Positives
- PAT profitability surged 159.7% to Rs. 83 Cr on disciplined cost control, operating leverage, and improved product mix across FY26.
- Working capital efficiency strengthened materially — cycle compressed 25 days to 55 days in FY26 via inventory and payables optimization.
⚠️ Concerns
- Interest expense climbed 20.4% to Rs. 114 Cr despite revenue growth of 12.9%, signaling leverage pressure and higher borrowing costs ahead.
- Net debt-to-equity of 0.8x in FY26 remains elevated; debt repayment schedule requires Rs. 144 Cr in FY27-28 to maintain balance sheet strength.
📅 Company Track Record
Sangam India has shown consistent operational improvement. FY25 PAT was Rs. 32 Cr on revenue of Rs. 2,872 Cr. Previous filing dated 22 April 2026 confirmed PAT explosion of 212% to Rs. 8,570 Lakhs (Rs. 85.7 Cr). Current filing shows corrected FY26 PAT of Rs. 83 Cr (Rs. 8,300 Lakhs), indicating prior disclosure may have included exceptional items or was pre-audit.
Based on publicly available historical data. For context only.