Sangam (India) Limited (SANGAMIND) AI Stock Analysis

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Sangam (India) Limited

(NSE:SANGAMIND)

Select Model

Rating:53Neutral

Price Target:INR 605.00▼(-0.94% Downside)

Action:reiterated

Date:10/14/26

The score is primarily held back by financial performance, especially weak and inconsistent free cash flow and higher leverage alongside reduced ROE. Technicals are moderately supportive with price above longer-term moving averages and a positive MACD, but near-term signals are neutral. Valuation is middle-of-the-road with a modest P/E and a low dividend yield.

Positive Factors

Multi-year revenue growthSustained revenue expansion indicates that Sangam has continued to grow its textile business across yarn and fabric activities. A larger revenue base can improve manufacturing scale, broaden customer reach, and provide a foundation for future earnings growth if profitability stabilizes.

Negative Factors

Rising leverageHigher leverage increases the financial burden carried by the textile business and reduces flexibility if operating conditions weaken. Greater reliance on borrowing can raise financing pressure, constrain future investment choices, and make the company more sensitive to fluctuations in profitability and cash generation.

Sangam (India) Limited (SANGAMIND) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 27.94B
Dividend Yield: 0.33%
Average Volume (3M): 2,458
Price to Earnings (P/E): 25.4
Beta (1Y): 1.30
Revenue Growth: 11.90%
EPS Growth: 518.29%
Country: India
Employees: 10,301
Sector: General
Sector Strength: 55
Industry: Manufacturing - Textiles

Sangam (India) Limited Business Overview & Revenue Model

Company Description

Sangam (India) Limited manufactures and sells PV-dyed yarns and denim fabrics in India. Its product portfolio includes PV-blended dyed fabrics, synthetic ring spun yarns, fancy yarns, ring and open-ended cotton yarns, indigo dyed yarns, cotton and sy...

How the Company Makes Money

Sangam (India) Limited makes money primarily by manufacturing textile products and selling them to customers in domestic and export markets. Its core revenue streams are: (1) Sale of yarn: the company produces yarn and earns revenue from bulk sales t...

Sangam (India) Limited Financial Statement Overview

Summary

Income statement shows meaningful multi-year revenue growth and a partial margin recovery in 2026, but profitability has been volatile with net margin only ~2.6% in 2026 versus higher levels earlier. Balance sheet risk has risen as leverage increased (debt-to-equity ~1.19 in 2026) and ROE declined to ~7.7%. Cash flow is the biggest drag: free cash flow was deeply negative in 2022–2024 and remains low versus earnings (FCF/NI ~0.16 in 2026), limiting financial flexibility.

Income Statement

62Positive

Balance Sheet

54Neutral

Cash Flow

41Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	33.05B	32.35B	28.57B	26.28B	26.78B	24.02B
Gross Profit	12.17B	12.93B	4.56B	7.73B	3.58B	4.09B
EBITDA	3.64B	3.22B	2.53B	2.15B	2.76B	2.72B
Net Income	1.21B	826.00M	318.00M	408.20M	1.31B	1.41B
Balance Sheet
Total Assets	0	33.15B	29.55B	27.29B	21.61B	18.24B
Cash, Cash Equivalents and Short-Term Investments	1.80B	1.95B	1.31B	104.40M	70.60M	11.30M
Total Debt	0	12.78B	11.38B	10.66B	8.26B	6.10B
Total Liabilities	-10.76B	22.39B	19.48B	17.45B	12.77B	11.08B
Stockholders Equity	10.76B	10.76B	10.07B	9.84B	8.83B	7.16B
Cash Flow
Free Cash Flow	-959.40M	430.70M	274.30M	-2.48B	-1.73B	-1.13B
Operating Cash Flow	92.50M	2.69B	3.42B	1.60B	2.16B	910.60M
Investing Cash Flow	-1.14B	-2.72B	-3.79B	-3.90B	-3.54B	-1.92B
Financing Cash Flow	846.80M	172.30M	591.00M	2.30B	1.43B	1.13B

Sangam (India) Limited Technical Analysis

Technical Analysis SentimentPositive

Last Price610.75

Price Trends

50DMA593.01Positive

100DMA585.31Positive

200DMA527.56Positive

Market Momentum

MACD-0.54Positive

RSI54.64Neutral

STOCH72.10Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SANGAMIND, the sentiment is Positive. The current price of 610.75 is above the 20-day moving average (MA) of 605.34, above the 50-day MA of 593.01, and above the 200-day MA of 527.56, indicating a bullish trend. The MACD of -0.54 indicates Positive momentum. The RSI at 54.64 is Neutral, neither overbought nor oversold. The STOCH value of 72.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:SANGAMIND.

Sangam (India) Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:SANGAMIND against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:NITINSPIN	62Neutral	INR 36.59B	17.28	―	0.46%	-0.01%	21.53%
IN:SIYSIL	60Neutral	INR 20.26B	9.01	―	3.58%	13.93%	7.80%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:JINDWORLD	54Neutral	INR 35.72B	42.36	―	―	-1.72%	12.66%
IN:SANGAMIND	53Neutral	INR 30.69B	25.44	―	0.33%	11.90%	518.29%
IN:GANECOS	50Neutral	INR 26.79B	47.32	―	0.35%	6.96%	-41.41%
IN:KITEX	38Underperform	INR 22.54B	-94.05	―	0.44%	-36.44%	-118.03%

* General Sector Average

Performance Comparison

IN:SANGAMIND and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:SANGAMIND	Sangam (India) Limited	610.75	171.73	39.12%
IN:GANECOS	Ganesha Ecosphere Limited	999.65	-211.69	-17.48%
IN:JINDWORLD	Jindal Worldwide Limited	35.63	-0.89	-2.44%
IN:KITEX	Kitex Garments Limited	113.00	-89.41	-44.17%
IN:NITINSPIN	Nitin Spinners Limited	650.90	322.12	97.98%
IN:SIYSIL	Siyaram Silk Mills Limited	446.65	-301.24	-40.28%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 14, 2026

Sangam (India) Limited AI Stock Analysis

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