Vishal Fabrics reported Outstanding Financial performance in Sep-21

 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

 

26th October 2021:- Vishal Fabrics Limited (BSE: 538598) (NSE: VISHAL) announced its un-audited standalone financials for the quarter ended 30^th 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