Apparel, Fashion & Retail | News & Insights

Vishal Fabrics reported Outstanding Financial performance in Sep-21

Published: October 26, 2021
Author: Manali bhanushali

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

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