The score has improved to 36 from 26 in the last 3 months
Q2FY22 Revenue at Rs. 400 crores, up 82% YoY
Q2FY22 EBITDA at Rs. 42 crores, up 142% YoY
Q2FY22 PAT at Rs. 20 crores, up 699% YoY
Vishal Fabrics Limited (BSE: 538598) (NSE: VISHAL) announced its un-audited standalone financials for the quarter ended 30th September 2021.
Commenting on the performance, Mr. Brijmohan Chiripal, Managing Director & CEO, said,
“Vishal Fabrics reported strong financial performance in Q2FY22. We have emerged stronger by achieving higher Revenues and improving our balance sheet position. The revenue growth was mainly on the back of increase in sales volumes while maintaining realizations with previous quarter level. The company has taken various cost efficiency measures in all areas of expenses during this quarter which helped to sustain EBITDA margin. The Company remains strong & resilient in terms of having sufficient liquidity, stability, profitability that shall enable to create the right environment to ensure sustainability and to support growth opportunities on a longer-term basis.”
Standalone Financial Performance:
| Particulars (Rs. Crs) | Q2FY22 | Q2FY21 | YoY | Q1FY22 | QoQ | H1FY22 | H1FY21 | YoY |
| Revenue from Operations | 400 | 220 | 82% | 295 | 35% | 694 | 287 | 142% |
| Gross Profit | 72 | 44 | 65% | 53 | 36% | 125 | 58 | 115% |
| Gross Profit Margin (%) | 18.0% | 19.9% | (190) bps | 18.0% | – | 18.0% | 20.3% | (230) bps |
| EBITDA | 42 | 17 | 142% | 31 | 37% | 73 | 23 | 220% |
| EBITDA (%) | 10.6% | 8.0% | 260 bps | 10.5% | 10 bps | 10.5% | 8.0% | 250 bps |
| EBIT | 36 | 12 | 203% | 23 | 58% | 58 | 12 | 382% |
| EBIT Margin (%) | 9.0% | 5.4% | 360 bps | 7.7% | 130 bps | 8.4% | 4.2% | 420 bps |
| Profit After Tax | 20 | 2 | 699% | 10 | 93% | 30 | (5.7) | – |
| PAT Margin (%) | 4.9% | 1.1% | 380 bps | 3.5% | 140 bps | 4.3% | – | |
| EPS | 3.00 | 0.57 | 1.55 | 4.56 | (1.32) | |||
| Cash PAT | 27 | 8 | 19 | 46 | 5 |
Sales Volume Performance
| Dholi unit | ||||
| Particulars | Q2FY22 | Q2FY21 | H1FY22 | H1FY21 |
| Utilisation% | 85% | 47% | 85% | 32% |
| Narol unit | ||||
| Particulars | Q2FY22 | Q2FY21 | H1FY22 | H1FY21 |
| Utilisation% | 52% | 66% | 56% | 41% |
Financial & Business Highlights:
Revenue
The Company recorded Revenue of Rs. 400 Crs during Q2FY22, as against Rs. 220 Crs in Q2FY21, a growth of 82%.
Revenue for the H1FY22 stands at Rs. 694 Crs, as against Rs. 287 Crs in H1FY21, a growth of 142%.
EBITDA
EBIDTA for Q2FY22 stood at Rs. 42 Crs as compared to Rs. 17 Crs for Q2FY21, a growth of 142%.
EBIDTA margins for Q2FY22 stood at 10.6% as compared to 8.0% in Q2FY21, a growth of 260 bps. Various cost measures helped to sustain EBITDA margins
EBIDTA for H1FY22 stood at Rs. 73 Crs as compared to Rs. 23 Crs for H1FY21, a growth of 220%
EBIDTA margins for H1FY22 stood at 10.5% as compared to 8.0% in H1FY21; a growth of 250 bps
PAT
Net profit after tax for Q2FY22 stood at Rs. 20 Crs as compared to Rs. 2 Crs for Q2 FY21, a growth of 699%
Net profit after tax for H1FY22 stood at Rs. 30 Crs as compared to Rs. (5.7) Crs for H1FY21
EPS for Q2FY22 stood at Rs. 3.00
EPS for H1FY22 stood at Rs. 4.56
Standalone Balance Sheet
| Particulars (Rs. Cr) | Sept-21 | Mar-21 |
| Long Term Debt | 261 | 280 |
| Short Term Debt | 120 | 107 |
| Gross Debt | 381 | 387 |
| Cash Bank | 22 | 21 |
| Net Debt | 359 | 366 |
| Shareholders Equity | 294 | 265 |
| Net Debt: Equity | 1.22 | 1.38 |
The Company’s consistent efforts towards debt reduction has led to reduction in long term debt by Rs. 19 Crs in first half of the financial year
