Vishal Fabrics Limited (BSE: 538598) (NSE: VISHAL) announced its un-audited standalone financials for the third quarter ended 31st December 2021.
Commenting on the performance, Brijmohan Chiripal, Managing Director & CEO, said,” During the quarter the company was able to achieve sustainable margins. The company was able to successfully pass on the additional cost to the customers. Our continuous efforts to keep operating expenses under control helped to maintain EBITDA margins. Moreover, we carried forward the momentum and recorded 46 percent growth in the sale of finish fabrics.
Capacity utilization level during the quarter remains stable. Our order book continues to be strong for the fourth quarter of FY22. To deliver superior outcomes to all of our stakeholders, we reaffirm our continuous focus on quality, production efficiency, on-time delivery, design, and innovation.
While the short-term headwinds may persist, we continue to be optimistic on the growth opportunities for the Indian textile industry on a long-term basis and our ability to increase utilization level and increase our revenue and market share.’’
Corporate Action: The Board of Directors in their meeting held on 27.01.22 declared the Issue of Bonus Shares of the proportion of 2 (Two) Equity Share of Rs. 5/- each for every 1 (one) Equity Share of Rs.5/- each held by shareholders of the Company as on the record date, subject to the approval of members and other approvals, consents, permissions, conditions and sanctions, as may be necessary. Financial & Business Highlights:
Revenue: The Company recorded Revenue of Rs. 427 cr during Q3FY22, as against Rs. 292 cr in Q3FY21, a growth of 46 percent. Revenue for the 9MFY22 stands at Rs. 1,121 cr, as against Rs. 579 cr in 9MFY21, a growth of 94 percent.
EBIDTA for Q3FY22 stood at Rs. 44 cr as compared to Rs. 24 cr for Q3FY21, a growth of 80 percent. EBIDTA margins for Q3FY22 stood at 10.2 percent as compared to 8.3 percent in Q3FY21, a growth of 191 bps. Various cost measures helped to sustain EBITDA margins. EBIDTA for 9MFY22 stood at Rs. 117 cr as compared to Rs. 47 cr for 9MFY21, a growth of 148 percent. EBIDTA margins for 9MFY22 stood at 10.4 percent as compared to 8.1 percent in 9MFY21; a growth of 228 bps
PAT: Net profit after tax for Q3FY22 stood at Rs. 19 cr as compared to Rs. 10 cr for Q3 FY21, a growth of 97 percent. Net profit after tax for 9MFY22 stood at Rs. 49 cr as compared to Rs. 4 cr for 9MFY21.
EPS for Q3FY22 stood at Rs. 2.94 and EPS for 9MFY22 stood at Rs. 7.5.
