Q1FY22 Result Update - Filatex India - ICICI Direct

The company managed to operate at above 80% utilisation levels and reported reasonable revenue and profitability in a tough operating scenario.

- Revenue de-grew 18% QoQ (3.8x growth YoY) to Rs. 698.9 crore

- Gross spreads, which were significantly higher in Q4FY21, fell 22% QoQ to Rs. 29.3/kg with gross margins down ~560 bps QoQ (up 1380 bps YoY) to 28.4%

- Subsequently, EBITDA margins were down 760 bps QoQ to 14.5% (Q1FY21 -4.3%), with absolute EBITDA down 46% YoY to Rs. 101.1 crore (EBITDA/kg: Rs. 14.9 vs. Rs. 24.3 in Q4FY21)

- Ensuing PAT came in at Rs. 52.1 crore vs. Rs. 118 crore in Q4FY21

Key triggers for future price performance

- Commissioning of 130 TPD capacity of POY and DTY by Q1FY23 to provide thrust to revenue growth

- Commencement of captive power plant in Q2FY22 to reduce power cost

- We expect share of value added products to increase from 64% in FY20 to 81% in FY23E

- Improved operational performance to lead to RoCE improvement to 32%

For details, click on the link below: Link to the report

Shares of Filatex India Ltd. was last trading in BSE at Rs. 106 as compared to the previous close of Rs. 102.95. The total number of shares traded during the day was 146907 in over 2212 trades.

The stock hit an intraday high of Rs. 107.9 and intraday low of 102.05. The net turnover during the day was Rs. 15460420.

Source : Equity Bulls

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