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Stock Report
Fiberweb Revenue increase by 16% in Q2FY22 despite export ban and higher logistic costs
Posted On : 2021-11-20 17:26:53( TIMEZONE : IST )
Fiberweb (India) Ltd, a 100% EOU & manufacturers of nonwoven fabrics reported its Q2 FY22 result. The company experienced a 16% growth in its Total Revenue at Rs. 23.68 crore, in spite of pandemic infused export restrictions and higher global logistic costs.
Financial Highlights for Q2 FY22:
- Total revenues were at Rs 23.68 crore in Q2 FY22 as compared to Rs 20.37crore in Q2 FY21.
- The Company reported 3.3% growth in EBIDTA at Rs 5.61 crore for Q2 FY22 as against Rs 5.43 crore in Q2 FY21.
- Net Profit was at Rs. 3.12 crore in Q2 FY22 against Rs. 4.02 crore in Q2 FY21 due to quarterly tax provisions.
- Company reported EPS of Rs. 1.08 for Q2 FY22.
Speaking on the occasion Mr. Bhavesh P Sheth, President of Fiberweb (India) Ltd said - "Q2 FY22 was the challenging quarter for the whole industry, Crude oil prices have skyrocketed during this period which affected our key raw material price. During this period there was a global shortage of shipping containers which has led to a three-fold increase in global logistic costs. Still, we have an export ban on a few of our products because of the pandemic This has restricted us in recording higher revenue growth despite having orders in hand and there was some pressure on the margins.
Also from this financial year to improve our financial reporting we have started quarterly provisions for the tax expense which we have been doing only at the end of year earlier. We have done very well in this quarter despite facing various headwinds during the quarter we have been able to achieve Revenue and Profit growth that shows how well we understand our business dynamics and we are well placed to achieve further growth during the financial year."
Shares of FIBERWEB (INDIA) LTD. was last trading in BSE at Rs. 38.70 as compared to the previous close of Rs. 38.95. The total number of shares traded during the day was 72805 in over 541 trades.
The stock hit an intraday high of Rs. 39.75 and intraday low of 32.20. The net turnover during the day was Rs. 2713368.00.
