S P Apparels Ltd

S.P. Apparels Limited (SPAL) is one of the leading manufacturers and exporters of knitted garments for infants and children in India. With the large network of factories, the Company serves as a sourcing, manufacturing and supply chain platform with a market growth headed by children and kids wear.

The company has integrated manufacturing facilities which provides end-to-end garment manufacturing from greige fabric to finished products. The company also manufactures and retails menswear garments in India under the brand Crocodile'. SPAL's business consists of two main divisions - (i) garments division for manufacture and the export of knitted garments for infants and children; and (ii) retail division for manufacture, distribution and marketing of products in India under the brand name Crocodile'.

SPAL has two subsidiaries viz. Crocodile Products Private Limited (CPPL) and S. P. Apparels (UK) Private Limited (SPUK). CPPL, which is a joint venture between SPAL and Crocodile International Pte. Ltd. (CIPL), is engaged in the business of, inter alia, establishing and managing units to manufacture, trade, deal, import and export garments and has entered into a technology license agreement with CIPL for the exclusive manufacture, distribution and marketing of menswear under the trademark Crocodile' in India. SPUK was incorporated in 2014 to explore possible marketing opportunities and engage in trading activities with new customers in the United Kingdom, Ireland and other European countries.

S.P. Apparels came out with an initial public offer (IPO) in August 2016. The IPO included 80,22,388 equity shares as fresh issue and 9,00,000 equity shares by way of Offer for sale by New York Life Investment Management India Fund (FVCI) II LLC.

During the financial year ended 31 March 2016, the company added 120 new sewing machines. The Processing Division achieved 85% utilization of its capacity. The embroidery and printing factories achieved 90% of their capacities du