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, Mr. 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% growth in the sale of finished 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.
Standalone Financial Performance:
| Particulars (Rs. Crs) | Q3FY22 | Q3FY21 | YoY | Q2FY22 | QoQ | 9MFY22 | 9MFY21 | YoY |
| Revenue from Operations | 427 | 292 | 46% | 400 | 7% | 1,121 | 579 | 94% |
| EBITDA | 44 | 24 | 80% | 42 | 3% | 117 | 47 | 148% |
| EBITDA (%) | 10.2% | 8.3% | 191bps | 10.6% | (36)bps | 10.4% | 8.1% | 228bps |
| EBIT | 36 | 19 | 94% | 36 | 2% | 95 | 31 | 207% |
| EBIT Margin (%) | 8.5% | 6.4% | 209bps | 9.0% | (44)bps | 8.4% | 5.3% | 311bps |
| Profit After Tax | 19 | 10 | 97% | 20 | (2%) | 49 | 4 | 1095% |
| PAT Margin (%) | 4.5% | 3.4% | 118bps | 4.9% | (41)bps | 4.4% | 0.7% | 369bps |
| EPS | 2.94 | 1.49 | 3.00 | 7.5 | 0.63 | |||
| Cash PAT | 27 | 17 | 27 | 73 | 23 |
Sales Volume Performance
| Dholi unit | ||||
| Particulars | Q3FY22 | Q3FY21 | 9MFY22 | 9MFY21 |
| Utilisation% | 86% | 82% | 85% | 57% |
| Narol unit | ||||
| Particulars | Q3FY22 | Q3FY21 | 9MFY22 | 9MFY21 |
| Utilisation% | 80% | 94% | 64% | 82% |
Financial & Business Highlights:
Revenue
The Company recorded revenue of Rs. 427 Crs during Q3FY22, as against Rs. 292 Crs in Q3FY21, a growth of 46%.
Revenue for the 9MFY22 stands at Rs. 1,121 Crs, as against Rs. 579 Crs in 9MFY21, a growth of 94%.
EBITDA
EBIDTA for Q3FY22 stood at Rs. 44 Crs as compared to Rs. 24 Crs for Q3FY21, a growth of 80%.
EBIDTA margins for Q3FY22 stood at 10.2% as compared to 8.3% in Q3FY21, a growth of 191 bps. Various cost measures helped to sustain EBITDA margins
EBIDTA for 9MFY22 stood at Rs. 117 Crs as compared to Rs. 47 Crs for 9MFY21, a growth of 148%
EBIDTA margins for 9MFY22 stood at 10.4% as compared to 8.1% in 9MFY21; a growth of 228 bps
PAT
Net profit after tax for Q3FY22 stood at Rs. 19 Crs as compared to Rs. 10 Crs for Q3 FY21, a growth of 97%
Net profit after tax for 9MFY22 stood at Rs. 49 Crs as compared to Rs. 4 Crs for 9MFY21
EPS for Q3FY22 stood at Rs. 2.94
EPS for 9MFY22 stood at Rs. 7.5
