Textile - Spinning · Founded 1962 · www.superspinning.com · BSE 521180 · NSE SUPER SPIN. · ISIN INE662A01027
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Business
Super Spinning Mills Ltd. is primarily engaged in the manufacturing and sale of yarn. As a "Textile - Spinning" company, its core business involves processing various raw fibers, such as cotton, synthetic fibers, and blends, into different types of yarn. This yarn is then supplied as an intermediate product to downstream industries like weaving, knitting, and garment manufacturing, both domestically and internationally. The company makes money through the sale of its manufactured yarn, with profitability driven by the difference between raw material costs, processing expenses, and sales realizations.
Revenue Mix
Given its industry classification as "Textile - Spinning," Super Spinning Mills' revenue largely derives from the sale of various types of yarn. While specific percentages are not publicly detailed here, common segmentation for such companies would include:
Cotton Yarn: Made from natural cotton fibers.
Blended Yarn: Combinations of cotton with synthetic fibers (e.g., polyester-cotton).
Synthetic Yarn: Made entirely from man-made fibers (e.g., polyester, viscose).
The company's focus would be on optimizing the mix of these yarn types based on market demand and raw material availability.
Industry
The Indian textile spinning industry is one of the largest globally, characterized by a mix of organized and unorganized players. It is highly competitive and often commodity-driven, with pricing largely dictated by raw material costs and global demand-supply dynamics. Super Spinning Mills operates within this competitive landscape, likely positioning itself based on specific yarn qualities, cost efficiency, customer relationships, and possibly regional market strengths. Its scale and product mix would determine its standing relative to larger, more integrated textile players or smaller, specialized spinning units.
MOAT
For a pure-play spinning company, durable competitive advantages are challenging to build due to the commodity nature of yarn. Potential advantages for Super Spinning Mills could include:
Operational Efficiency & Scale: Ability to achieve lower per-unit costs through efficient manufacturing processes, modern machinery, and economies of scale in procurement and production.
Strong Customer Relationships: Long-standing relationships with weavers, knitters, and garment manufacturers built on consistent quality and timely delivery.
Product Quality/Specialization: Expertise in producing specific high-quality, fine-count, or specialty yarns that command better pricing.
Cost Management: Effective management of volatile raw material (cotton/fiber) and energy costs, which are significant expense components.
Growth Drivers
Key factors that can drive growth for Super Spinning Mills over the next 3-5 years include:
Growing Domestic & Global Demand for Textiles: Rising disposable incomes, population growth, and evolving fashion trends drive demand for apparel and home textiles, which in turn fuels yarn consumption.
Government Support: Indian government initiatives (e.g., PLI schemes, textile parks, export promotion policies) aimed at boosting the textile sector can provide tailwinds.
Downstream Industry Growth: Expansion in the weaving, knitting, and garment manufacturing sectors directly translates to increased demand for yarn.
Capacity Expansion & Modernization: Investing in new machinery or expanding existing capacities to cater to increased demand or produce higher-value yarns.
Value Addition & Diversification: Potential to move into more specialized or technical yarns, which offer better margins, if the company chooses to broaden its product portfolio.
Risks
Raw Material Price Volatility: Fluctuations in the prices of cotton and synthetic fibers can significantly impact profitability, as these are major input costs.
Intense Competition & Pricing Pressure: The fragmented and competitive nature of the spinning industry can lead to pressure on yarn prices and margins.
Power and Fuel Costs: High and volatile energy costs are a significant operational risk for energy-intensive spinning mills.
Foreign Exchange Fluctuations: As an exporter and potentially importer of raw materials/machinery, currency volatility can affect profitability.
Global Economic Slowdown: A downturn in global economies can reduce discretionary spending on textiles, impacting demand for yarn.
Regulatory & Environmental Compliance: Changes in labor laws, environmental regulations, and trade policies can increase operational costs or restrict market access.
Technological Obsolescence: Failure to continually upgrade machinery can lead to reduced efficiency and competitiveness.
Management & Ownership
Super Spinning Mills Ltd. is typically a promoter-led company, characteristic of many businesses in India. The promoter family usually holds a significant equity stake and plays a key role in strategic decision-making and day-to-day operations. The management team's experience in the textile industry, particularly in navigating commodity cycles and operational challenges, would be crucial. The ownership structure generally includes the promoter group alongside institutional and public shareholders.
Outlook
Super Spinning Mills operates in a foundational segment of the textile industry, benefitting from steady underlying demand for textiles both domestically and globally. The company's future performance will largely depend on its ability to effectively manage raw material price volatility, maintain operational efficiencies, and adapt to evolving market demands. While government support and growth in downstream textile industries present growth opportunities, the highly competitive and capital-intensive nature of the spinning sector, along with exposure to commodity and energy price fluctuations, poses ongoing challenges. Consistent investment in modernization and prudent cost management will be critical for sustained profitability in this environment.
Price goes above X
Price falls below X
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PE falls below X
| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 1 | 1 | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 1 | 1 | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Total Expenditure | 1 | 0 | -0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 |
| Operating Profit | 1 | 1 | 3 | 1 | 1 | 1 | 2 | 1 | 1 | 1 |
| Interest | 0 | 0 | 1 | 0 | 1 | 0 | 1 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | -3 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Profit Before Tax | 0 | 1 | -1 | 0 | 0 | 0 | 1 | 0 | 1 | 1 |
| Provision for Tax | 4 | 0 | 7 | 0 | 0 | 0 | 4 | 0 | 0 | 0 |
| Profit After Tax | -4 | 0 | -8 | 0 | 0 | 0 | -3 | 0 | 0 | 1 |
| Adjustments | -3 | -2 | -4 | -1 | -0 | -0 | -13 | -0 | -0 | -0 |
| Profit After Adjustments | -7 | -1 | -12 | -0 | -0 | 0 | -16 | -0 | 0 | 1 |
| Adjusted Earnings Per Share | -0.7 | 0.1 | -1.4 | 0 | 0 | 0.1 | -0.5 | 0.1 | 0.1 | 0.2 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 440 | 348 | 294 | 261 | 208 | 149 | 49 | 93 | 6 | 7 | 7 | 8 |
| Other Income | 6 | 2 | 13 | 3 | 2 | 1 | 5 | 1 | 0 | 0 | 0 | 0 |
| Total Income | 446 | 350 | 307 | 264 | 210 | 150 | 54 | 94 | 6 | 7 | 7 | 8 |
| Total Expenditure | 427 | 342 | 291 | 265 | 214 | 155 | 47 | 84 | 0 | 1 | 2 | 0 |
| Operating Profit | 19 | 8 | 16 | -1 | -4 | -5 | 7 | 10 | 5 | 6 | 5 | 5 |
| Interest | 24 | 23 | 18 | 15 | 14 | 10 | 6 | 4 | 2 | 2 | 2 | 1 |
| Depreciation | 10 | 10 | 8 | 6 | 4 | 4 | 3 | 3 | 1 | 1 | 1 | 0 |
| Exceptional Income / Expenses | -2 | 16 | 0 | 0 | 7 | 7 | 5 | 5 | 0 | -3 | 0 | 1 |
| Profit Before Tax | -17 | -9 | -11 | -22 | -14 | -11 | 3 | 8 | 3 | -0 | 2 | 3 |
| Provision for Tax | -5 | -3 | 2 | 0 | 0 | 0 | 5 | 7 | 0 | 7 | 4 | 4 |
| Profit After Tax | -12 | -6 | -13 | -22 | -14 | -11 | -2 | 1 | 3 | -7 | -2 | -2 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | -5 | -0 | -22 | -14 | -14 | -13 |
| Profit After Adjustments | -12 | -6 | -13 | -22 | -14 | -11 | -8 | 0 | -20 | -21 | -16 | -15 |
| Adjusted Earnings Per Share | -2.1 | -1.1 | -2.4 | -3.9 | -2.6 | -2.1 | -0.4 | 0.2 | 0.5 | -1.2 | -0.4 | -0.1 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | -58% | -46% | -34% |
| Operating Profit CAGR | -17% | -21% | 0% | -12% |
| PAT CAGR | 0% | NAN% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -52% | -10% | -4% | -4% |
| ROE Average | -4% | -3% | -2% | -8% |
| ROCE Average | 4% | 3% | 5% | 3% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 61 | 55 | 166 | 135 | 126 | 113 | 104 | 109 | 90 | 72 | 55 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 40 | 31 | 17 | 9 | 2 | 0 | 23 | 20 | 22 | 16 | 13 |
| Other Non-Current Liabilities | -9 | -12 | 6 | 5 | 8 | 7 | 4 | -8 | -10 | -4 | 0 |
| Total Current Liabilities | 153 | 140 | 127 | 144 | 165 | 111 | 52 | 43 | 48 | 23 | 30 |
| Total Liabilities | 244 | 214 | 316 | 293 | 301 | 231 | 182 | 164 | 150 | 107 | 98 |
| Fixed Assets | 93 | 71 | 218 | 214 | 171 | 153 | 112 | 106 | 103 | 1 | 1 |
| Other Non-Current Assets | 41 | 43 | 21 | 20 | 43 | 41 | 36 | 34 | 11 | 92 | 88 |
| Total Current Assets | 111 | 100 | 76 | 59 | 87 | 37 | 34 | 24 | 35 | 12 | 8 |
| Total Assets | 244 | 214 | 316 | 293 | 301 | 231 | 182 | 164 | 150 | 107 | 98 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 2 | 1 | 1 | 1 | 2 | 0 | 0 | 0 | 3 | 2 | 7 |
| Cash Flow from Operating Activities | 40 | 4 | 23 | 29 | 24 | 11 | -14 | -23 | -9 | 4 | 2 |
| Cash Flow from Investing Activities | -4 | 29 | 15 | -0 | 10 | 12 | 23 | 27 | 6 | 21 | 0 |
| Cash Flow from Financing Activities | -37 | -34 | -38 | -29 | -35 | -23 | -10 | -1 | 3 | -19 | -8 |
| Net Cash Inflow / Outflow | -1 | -1 | 1 | 0 | -1 | -0 | -0 | 3 | -1 | 6 | -6 |
| Closing Cash & Cash Equivalent | 1 | 1 | 1 | 2 | 0 | 0 | 0 | 3 | 2 | 7 | 2 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -2.14 | -1.06 | -2.36 | -3.93 | -2.63 | -2.06 | -0.44 | 0.15 | 0.5 | -1.23 | -0.41 |
| CEPS(Rs) | -0.25 | 0.75 | -0.91 | -2.92 | -1.89 | -1.35 | 0.12 | 0.67 | 0.65 | -1 | -0.19 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 11.04 | 9.98 | 30.23 | 24.51 | 22.82 | 20.59 | 18.84 | 19.87 | 16.32 | 13.02 | 10.03 |
| Core EBITDA Margin(%) | 2.99 | 1.78 | 0.97 | -1.45 | -2.64 | -3.47 | 3.11 | 9.7 | 97.23 | 82.56 | 70.36 |
| EBIT Margin(%) | 1.54 | 4 | 2.59 | -2.53 | -0.35 | -0.97 | 18.79 | 12.75 | 82.63 | 26.95 | 55.72 |
| Pre Tax Margin(%) | -3.89 | -2.53 | -3.58 | -8.28 | -6.95 | -7.56 | 5.68 | 8.56 | 49.89 | -1.01 | 26.02 |
| PAT Margin (%) | -2.67 | -1.67 | -4.41 | -8.28 | -6.95 | -7.56 | -4.96 | 0.89 | 49.89 | -97.36 | -34.21 |
| Cash Profit Margin (%) | -0.31 | 1.19 | -1.7 | -6.15 | -4.98 | -4.96 | 1.34 | 3.97 | 64.5 | -79.5 | -15.9 |
| ROA(%) | -4.53 | -2.54 | -4.9 | -7.09 | -4.87 | -4.25 | -1.17 | 0.48 | 1.76 | -5.25 | -2.21 |
| ROE(%) | -17.52 | -10.07 | -11.73 | -14.34 | -11.11 | -9.47 | -2.23 | 0.78 | 2.78 | -8.38 | -3.58 |
| ROCE(%) | 3.4 | 7.9 | 3.63 | -2.86 | -0.38 | -0.89 | 6.41 | 8.49 | 3.33 | 1.65 | 4.33 |
| Receivable days | 33.6 | 33.73 | 24 | 16.76 | 19.89 | 25.01 | 40.71 | 5.98 | 297.2 | 243.83 | 118.05 |
| Inventory Days | 42.18 | 40.97 | 44.29 | 35.55 | 37.42 | 45.21 | 83.35 | 53.19 | 929 | 0 | 0 |
| Payable days | 67.42 | 91.44 | 100.35 | 121.98 | 172.67 | 252.78 | 505.04 | 101.44 | 0 | 0 | 0 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 75.84 | 12.48 | 0 | 0 |
| Price/Book(x) | 0.52 | 0.65 | 0.4 | 0.48 | 0.26 | 0.12 | 0.22 | 0.58 | 0.38 | 0.52 | 1.09 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.35 | 0.42 | 0.52 | 0.52 | 0.4 | 0.33 | 1.14 | 1.01 | 13.1 | 7.7 | 11.37 |
| EV/Core EBITDA(x) | 8.18 | 17.98 | 9.82 | -129.59 | -21.04 | -10.85 | 8.04 | 9.53 | 13.47 | 9.13 | 15.36 |
| Net Sales Growth(%) | -15.48 | -20.93 | -15.57 | -11.29 | -20.22 | -28.19 | -67.29 | 91.16 | -94.06 | 25.21 | -4.58 |
| EBIT Growth(%) | -77.08 | 105.51 | -45.24 | -186.53 | 88.93 | -99.32 | 730.87 | 29.65 | -61.52 | -59.17 | 97.32 |
| PAT Growth(%) | -453.22 | 50.42 | -122.79 | -66.45 | 33.02 | 21.84 | 78.56 | 134.48 | 231.2 | -344.33 | 66.47 |
| EPS Growth(%) | -453.24 | 50.42 | -122.79 | -66.45 | 33.02 | 21.84 | 78.56 | 134.48 | 231.27 | -344.32 | 66.47 |
| Debt/Equity(x) | 2.06 | 2.04 | 0.53 | 0.54 | 0.41 | 0.32 | 0.32 | 0.32 | 0.46 | 0.35 | 0.34 |
| Current Ratio(x) | 0.72 | 0.71 | 0.6 | 0.41 | 0.52 | 0.33 | 0.65 | 0.57 | 0.73 | 0.53 | 0.27 |
| Quick Ratio(x) | 0.46 | 0.44 | 0.34 | 0.28 | 0.37 | 0.22 | 0.45 | 0.17 | 0.5 | 0.53 | 0.27 |
| Interest Cover(x) | 0.28 | 0.61 | 0.42 | -0.44 | -0.05 | -0.15 | 1.43 | 3.05 | 2.52 | 0.96 | 1.88 |
| Total Debt/Mcap(x) | 3.94 | 3.13 | 1.31 | 1.14 | 1.54 | 2.71 | 1.45 | 0.55 | 1.19 | 0.68 | 0.31 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 42.8 | 42.8 | 42.8 | 42.8 | 42.8 | 42.8 | 42.8 | 42.8 | 42.8 | 42.8 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 57.2 | 57.2 | 57.2 | 57.2 | 57.2 | 57.2 | 57.2 | 57.2 | 57.2 | 57.2 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 2.35 | 2.35 | 2.35 | 2.35 | 2.35 | 2.35 | 2.35 | 2.35 | 2.35 | 2.35 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 3.15 | 3.15 | 3.15 | 3.15 | 3.15 | 3.15 | 3.15 | 3.15 | 3.15 | 3.15 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | -58% | -46% | -34% |
| Operating Profit CAGR | -17% | -21% | — | -12% |
| PAT CAGR | — | 0% | — | — |
| Share Price CAGR | -52% | -10% | -4% | -4% |
| ROE Average | -4% | -3% | -2% | -8% |
| ROCE Average | +4% | +3% | +5% | +3% |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 42.8 | 42.8 | 42.8 | 42.8 | 42.8 | 42.8 | 42.8 | 42.8 | 42.8 | 42.8 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 57.2 | 57.2 | 57.2 | 57.2 | 57.2 | 57.2 | 57.2 | 57.2 | 57.2 | 57.2 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 2.35 | 2.35 | 2.35 | 2.35 | 2.35 | 2.35 | 2.35 | 2.35 | 2.35 | 2.35 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 3.15 | 3.15 | 3.15 | 3.15 | 3.15 | 3.15 | 3.15 | 3.15 | 3.15 | 3.15 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 |
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