SVP Global Ventures Limited has declared its unaudited Financial Results for the Quarter & Nine month ended December 31, 2020.
Consolidated Result Highlights:
- Revenue for Q3FY21 stood at Rs. 371 crs as compared to Rs. 386 crs in Q3FY20 down by 4%. Revenue for 9MFY21 stood at Rs. 826 crs
- EBIDTA* for Q3FY21 stood at Rs. 76 crs as compared to Rs. 49 crs in Q3FY20 an increase of 55%. EBIDTA margin for the quarter stood at 20.6% up by 780 bps Y-o-Y. EBIDTA for 9MFY21 stood at Rs. 116 crs with an EBIDTA margin of 14%.
- Operational efficiencies, better product mix and cost rationalization led to considerable increase in margins on a sustainable basis.
- Consolidated PAT for the quarter stood at Rs. 33 crs, an increase of 35% as compared to Q3FY20. PAT margins increased by 260 bps to 9% for Q3FY21 compared to 6.4% for the same period last year.
Commenting on the results and performance for Q3 & 9MFY21, Major General O.P. Gulia, President for SVP Global Ventures Limited said: "We are pleased to report positive results for this quarter and are optimistic of growth for the coming quarter and next financial year.
Strong demand revival in yarn market, better pricing and change in the product mix led to increase in revenue to the pre-covid levels.
Compact cotton yarn contributed 84% & traditional yarn contributed 16% for 9MFY21 as compared to 75% & 25% for FY20, respectively.
Our consolidated EBIDTA stood for Q3FY21 at Rs. 76 crs with an EBIDTA margin of 20.6%. Our cost rationalization initiatives during the first half of the year coupled with better product mix and operational efficiencies led to a margin expansion of 780 bps as compared to same period last year.
Consolidated PAT for Q3FY21 stood at Rs. 33.3 crs with a PAT margin of 9%
With increase in volumes and strong order book in hand we are envisaging a positive momentum in the business. Shift in product mix with export opportunities in the hindsight from our Oman facility, should give a boost to our operating margins going forward."
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