SPAL Q4 FY26 Guidance vs Delivery (SPAL Management Mirror)

Did SPAL's management deliver what it guided? Guidance vs actual performance and tone changes across recent earnings calls, as of the Q4 FY26 (Mar-2026 Qtr) concall.

S.P. Apparels Ltd (SPAL) Q4FY26 Management Mirror - Mar-2026 Qtr

Consolidated & Segment Revenue

Management consistently targets consolidated revenue of INR 2,000 crores for FY27, with total peak capacity revenue potential estimated at INR 2,500 crores; sequentially, segment expectations for FY27 clarified in the Mar'26 Qtr include INR 1,800 crores from Garmenting, INR 100 crores from SPUK, and INR 80-90 crores from Retail, while the Sri Lanka division's FY27 revenue expectation was upgraded from over INR 100 crores in the Sep'25 Qtr to INR 200-250 crores in the Mar'26 Qtr. [Status: Reaffirmed]

3 more themes on the ELITE plan.