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Vishal Fabrics Reported an all-round performance for Q2FY20

Posted On: 2019-11-19 08:53:45

The Vishal Fabrics Limited, one of the leading manufacturers of Denim Fabric reported its Un-Audited Financial Result along with limited review Report for the quarter and half year ended 30th September, 2019.

Financial Highlights Q2 & H1FY20:

- Revenue increased by 23% YoY to Rs 293.05 Cr in Q2FY20 and by 30% YoY to Rs 626.7 Cr. in H1FY20
- EBITDA increased by 172% YoY to Rs 10.34 Cr in Q2FY20, and 94% up YoY to Rs. 47.69 Cr. in H1FY20
- PAT stood at Rs 8.59 Cr up 39% YoY as on Q2FY20 and Rs 16.61 Cr up by 97% as on H1FY20

Performance Highlights:

- Capacity utilisation of Denim Manufacturing plant located at Dholi, Gujarat improved from 55% in Q2FY19 to 75% in Q2FY20.

- Higher capacity utilisation led the company to improve its operating efficiencies. Higher production helped us to improve economies of scale in the form of lower manufacturing and overhead costs.

Mr. Brijmohan Chiripal, Managing Director of the company, stated that significant improvement in capacity utilisation leads to better efficiency and higher profit margins. We expect capacity utilisation to improve going ahead, also enhancing our operating leverage.

We are delighted to share our business expansion in newer geographies covering South Asian countries, MENA region. The company has developed its business with various Indian brands such as Jack & Jones, Flipkart, Myntra, Aditya Birla Group, Pantaloons and Lifestyle. Futher, The company has made its presence with some International brands such as Austin, PEPCO and OVS.

Source: Equity Bulls

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