Filatex India Ltd (NSE: FILATEX; BSE: 526227), is in the business of manufacturing synthetic filament yarns having a wide range of products. Filatex India announced unaudited results of Q3FY21 & 9MFY21 on January 12, 2021.
Financial Highlights (YoY) - Q3FY21 vs Q3FY20
- Revenue of INR 721.6 Cr against INR 727.7 Cr
- EBITDA stands at INR 120.2 Cr (16.65%) against INR 55.9 Cr (7.57%)
- Net Profit stands at INR 66.0 Cr against INR 18.6 Cr
- Sales quantity for the quarter is 86,534 MT against 92,027 MT
Financial Highlights (YoY) - 9MFY21 vs 9MFY20
- Revenue of INR 1374.4 Cr against INR 2114.8 Cr
- EBITDA stands at INR 158.6 Cr against INR 159.7 Cr
- Net Profit stands at INR 47.4 Cr against INR 100.4 Cr
- Sales quantity for 9 months is 1,82,208 MT* against 2,40,625 MT
* Due to national lockdown and COVID-19 restrictions, the plants were shut for almost 8 weeks and upon resumption, were permitted to operate at an initial capacity of 30%. With a gradual increase in production, the company has finally achieved yarn capacity utilization exceeding 90% in September 2020.
Commenting on the performance for the quarter ended on 31st December 2020, Mr. Madhu Sudhan Bhageria, Chairman & Managing Director, said, we are excited to announce that we have achieved our highest quarterly EBIDTA of Rs. 120.17 crores and improved EBITDA margins to 16.65% as against 7.57% in Q3FY20. After facing a pandemic setback in H1FY21, we are now making a comeback in H2FY21. This has been possible on account of a quick and steady recovery of the downstream textile sector and sharp recovery of demand. The commencement of additional DTY capacity has also contributed to higher margins.
During the quarter, we commissioned captive rooftop solar power plants of 1.0 MW capacity at Dahej and 0.4 MW capacity at Dadra.
We are also currently in the process of setting up a 30 MW captive power plant at our Dahej unit. The project is progressing as per schedule and is expected to be commissioned by Q1FY22. The annual impact of savings in energy costs, upon completion of the project, will be in the magnitude of about Rs. 45 crores annually.
Shares of FILATEX INDIA LTD. was last trading in BSE at Rs.67 as compared to the previous close of Rs. 70.8. The total number of shares traded during the day was 488722 in over 4369 trades.
The stock hit an intraday high of Rs. 70.8 and intraday low of 65.1. The net turnover during the day was Rs. 33170949.