Investor presentation
General Updates 19 Jul - Spunweb shared FY26 investor presentation at SME Investor Conference 2026, highlighting 22% revenue growth to ₹32448.22 lakhs.
Source: Nse
Spunweb Nonwoven Ltd. (SPUNWEB)
SME CapConsumer stocks · SME cap · NSE
Spunweb Nonwoven Ltd. is a leading Indian manufacturer of polypropylene spunbond nonwoven fabrics, serving 500+ clients across 15+ countries. With 39,140 MTPA installed capacity, it produces six fabric grades for hygiene, medical, agriculture, packaging, and industrial applications, focusing on quality and sustainability.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result16 May, 04:18 am IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Consumer P/E 22.2 (n=441)
Technical timing lens
Trend score and candlestick chart
57NeutralSMA20 +11.7% / mo · MACD + · sector -3.7pp vs Nifty 500 (3M)
Stock trend: 70
Sector RS: 36
Sector 3M: -9.3% vs Nifty 500 -5.6%
Consumer FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
SPUNWEBD candles · FIT view+6.7%Latest close ₹125.90 on 2026-10-19
Bar
+0.7%
RSI
65
MACD hist
1.76
52W pos
54%
2026-10-19O ₹125.00H ₹126.00L ₹125.00C ₹125.90Vol 50,400 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
SPUNWEBNifty Consumer DurablesNifty 500
- SPUNWEB
- +20.7%
- Nifty 500
- -5.6%
- Nifty Consumer Durables
- -9.7%
- Vs Nifty 500
- +26.3 pp
Chart stats
19 Oct 2026- From 52W high
- -23.7%
- 52W range position
- 54%
- ATR (14)
- 3.7%
- Volume vs 20D
- 2.07x
- Avg traded value
- ₹0.3 Cr
- 20D price channel
- ₹96.1 - ₹136
₹165
₹80 - ₹165
₹4.7
Latest completed session
20-session average
58.7% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · UNDERVALUED71
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Pending data—
Revenue NDF · PAT NDF YoY
Technical
Neutral57
Price trend and sector-relative-strength timing.
Valuation
Legacy model+60.5%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence75
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 31 Mar 2026
Pending dataYoY comparison unavailable - result verdict pending data
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹188 Cr | NDF | +37.2% |
| EBITDA | ₹32 Cr | NDF | +33.3% |
| Operating margin | 17.0% | NDF | -100 bps |
| PAT | ₹12 Cr | NDF | +9.1% |
| PAT margin | 6.4% | NDF | -165 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 10.70
- P/B
- 2.00
- EV/EBITDA
- 4.70
- Market Cap
- 247.00Cr
Profitability
- ROE
- 27.40%
- ROCE
- 26.90%
- ROA
- 9.06%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 24.00%
- EPS 5Y
- 24.00%
- Revenue 3Y
- 41.00%
- EPS 3Y
- 60.00%
Balance Sheet
- Debt/Equity
- 0.63
- Interest Coverage
- 5.09×
- Altman Z
- 3.85
- Book Value
- 51.10
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 2/5
- OCF
- 3.00 Cr
- EPS TTM
- 9.57
Shareholding
- Promoter Hold
- 65.27%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 26%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 188+37.2% vs prev
Net Profit
₹ CrLatest: 12.0+9.1% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 65. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 rising (~10.4% over last month) — short-term momentum positive.
- RSI(14) at 65 — falling, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 23% off 52W high · 57% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
65
RS percentile
Stage 3 Topping
1M return
+27.2%
3M return
+19.3%
6M return
+11.0%
1Y return
-11.6%
RS 1D
-2
RS 20D
+37
Sector rank
#9
Industry rank
#36
Stage evidence
- 21.3% below the 52-week closing high after prior strength.
- The 30-week proxy has stalled (+0.3% over 20 sessions).
- Price has not yet confirmed a full Stage 4 downtrend.
50-DMA
price above
200-DMA
price above
Sector
neutral
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
254 observations
19 Oct 2026Value 86.49-1.31%
RS vs Nifty 50086
Valuation & peers
U-Score 71 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 71 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Top Setup
Fundamental score breakdown
U band · UNDERVALUEDValuation19/30
Growth21/25
Quality19/20
Balance Sheet8/15
Cash Flow2/10
Piotroski
8/9 (+5)
Penalties
-3
Raw sum
71
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
71/100 · legacy band UNDERVALUED
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 60.5%.
- Quality contributes 19/20 to the score.
Main drags
- Penalty bucket subtracts 3 points.
- Cash flow is weaker at 2/10; verify the latest quarterly trend.
- Balance sheet is weaker at 8/15; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
10.7
PB
2.0
EV/EBITDA
4.7
ROE
27.4%
ROCE
26.9%
FCF Yield
—
Debt/Equity
0.6
MoS
+60.5%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
71
Previous: 71
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+60.5%
Previous: +60.5%
Score history
12 stored score snapshots. Latest stored move: +3 points.
20 Oct 2026
v4.3-runtime-valuation
71
71
71
71
68
68
68
71
68
68
68
71
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹104.9
-20.0% MoS
Growth-justified P/E
33.3
Growth-justified Value
₹318.68
+60.5% MoS
PEG
0.28
Comparable companies
Peers
Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
SHREEKARNI
SME
Shree Karni Fabcom Ltd.
Textiles
match 63
51
18.2
14.3%
+40%
FAIR VALUE
NRVANDANA
SME
N R Vandana Tex Industries Ltd.
Textiles
match 61
51
16.0
26.1%
+57%
FAIR VALUE
CPS
SME
C P S Shapers Ltd.
Textiles
match 61
12
3118.0
0.4%
-93237%
OVERVALUED
SIDDHIKA
SME
Siddhika Coatings Ltd.
Textiles
match 61
76
12.9
23.6%
+65%
DEEP VALUE
KEN
SME
Ken Enterprises Ltd.
Textiles
match 59
62
6.7
12.8%
+80%
UNDERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-10-01T07:20:04.390Z
Management commentary snapshot
SPUNWEB reported strong FY26 consolidated results with revenue up 22.22% YoY to ₹324.48 Cr, EBITDA up 39.80% to ₹55.98 Cr, and PAT up 54.73% to ₹23.07 Cr. EBITDA margin expanded by 217 bps to 17.25%, driven by operational efficiency and premium product offerings.
The company delivered robust FY26 performance, marked by significant revenue and profit growth, alongside margin expansion. Operational efficiency, increased capacity utilization, and strategic deleveraging strengthen the financial position. Demand drivers in hygiene and packaging, coupled with export traction, support continued growth.
Current business mix
Revenue by end-market (FY26)
Latest issuer-disclosed distribution across 5 reported categories.
Hygiene51.9%
Packaging35.7%
Healthcare / Medical8.0%
Agriculture3.7%
Industrial & Other0.6%
Growth engines
Hygiene & Packaging Demand
Increased demand in hygiene and packaging sectors, with the single-use plastic ban pushing FMCG to non-woven substitutes.
Premium Product Offering
Offering quality and premium products in the spunbond non-woven market at competitive cost, improving revenue and brand image.
Export Traction
Indian spunbond is increasingly competitive versus China, with geographic diversification reducing concentration risk.
Hygiene Penetration
India's expanding middle class, rising disposable incomes, and urbanization are driving demand for healthcare-related non-woven products.
Capacity and execution
New Production Lines
6th and 7th production lines (3.2 S & 1.6 S) were commissioned in FY26.
Solar Power Plants
4.5 MW and 2.0 MW ground-mounted solar power plants were commissioned in FY26.
Rooftop Solar Under Construction
0.20 MW rooftop solar capacity is under construction at Spunweb India Private Limited (SIPL).
Tailwinds
Single-Use Plastic Ban
The ban continues to push carry bags, packaging, and FMCG to non-woven substitutes, driving demand.
Sustainability Focus
Moving towards solar renewable energy contributes to decarbonization and reduces power costs.
Agri Non-Wovens Adoption
Increased awareness in the agricultural space is leading to greater adoption of crop/fruit covers, frost covers, and weed mats.
Reduced Dependency on China
Indian spunbond is increasingly competitive against China, supporting export traction.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The investor presentation provides audited consolidated financial statements for the fiscal year ending March 31, 2026, compared against the previous fiscal year, making YoY the appropriate primary comparison.
Sector KPIs management disclosed
Revenue
Revenue from Operations (Consolidated) increased by 22.22% YoY to ₹32448.22 Lacs in FY26.
EBITDA Margin
EBITDA margin expanded by 217 bps to 17.25% in FY26 from 15.08% in FY25.
Production Volume
Production Volume increased by 32.22% to 30,630 MTPA in FY26 from 23,166 MTPA in FY25.
Capacity Utilization
Group installed capacity is 39,140 MTPA. Line 3 (3.2 SSS) utilization was 98% in FY26 (vs 89% in FY25). Line 5 (3.2 SS) utilization was 90% in FY26 (vs 57% in FY25).
Management forward view
Expand Market Reach
Management aims to penetrate new end-user industries, diversify the customer base, and strengthen geographical footprint, including global trade exhibitions.
Grow Product Portfolio
Plans include diversifying the product range with lamination coatings and strategically entering agriculture and medical sectors with specialized products.
Scale Up Production
Introduction of new machines will boost production capacity, enhance product quality, operational efficiency, and cost-effectiveness, developing new product lines.
Progress Through Clean Energy
Solar projects are expected to strengthen financial performance by substantially lowering energy costs over the long term.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Production Volume | 30,630 MTPA (+32.22% YoY in FY26) | Sustained growth in production volume, indicating effective utilization of new capacities. |
| Capacity Utilization (New Lines) | Line 6 at 17%, Line 7 at 22% in FY26 | Ramp-up in utilization rates for the 6th and 7th production lines commissioned in FY26. |
| EBITDA Margin | 17.25% (+217 bps YoY in FY26) | Maintenance or further expansion of EBITDA margins, reflecting continued operational efficiency and premium product mix. |
| Net Debt / EBITDA | 1.37x (vs 2.26x in FY25) | Further reduction in leverage, indicating prudent financial management and cash flow generation. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
75Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 78th percentile of the scored universe and 81st percentile within Consumer. Main check: cash conversion is weak at 55/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
3 docs text-extracted · 1 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
78th percentile
overall median 67 · Consumer: 81st pctile, median 66 · SME: 94th pctile, median 64
Evidence depth
Financial-only
3 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
55
watch · profit to cash conversion
Balance sheet
81
strong · leverage and solvency
Discipline
98
strong · capital discipline
Results
55
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 65.3%.
- ▸Promoter pledge is zero.
- ▸ROCE is 26.9%.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Spunweb Nonwoven Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Investor presentationMay 2026
May 2026 · PPT
Source: Nse
Concall transcriptMay 2026
May 2026 · Transcript
Source: Nse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.