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Fiberweb net profit up 115.71% on better margins in Q1FY22
Posted On : 2021-08-11 19:00:42( TIMEZONE : IST )
Fiberweb (India) Ltd, a 100% EOU manufacturers of non-woven fabrics reported its Q1FY22 results ending 30th June 2021. The company experienced a 115.71% growth in its total Net Profit at Rs. 3.65crore, in spite of pandemic and export restrictions.
This growth is due to better margins. The EBIDTA also grew by 6.7% to Rs. 6.28 crore, with improvement in PAT margins at 14.02% while Q1 Sales at Rs. 26.06 crore in Q1 FY22.
The company has a healthy order book of Rs. 75 crores, which is 70% of total yearly sales. These orders will be executed in the next five months.
Financial Highlights for Q1FY22
- Total revenues were at Rs 26.06 crore in Q1FY22 as compared to Rs 35.47crore in Q4FY21.
- The Company reported 6.7% growth in EBIDTA at Rs 6.28crore for Q1FY22 as against Rs 5.89 crore in Q4 FY21.
- Net Profit was at Rs. 3.65crore grew more than doubled from Rs 1.69 crore in Q4FY21
- Net Margins were impressive at 14.02% for Q1FY22.
- Company reported EPS of Rs. 1.27 for Q1 FY22.
- Total order book stands at Rs 75 crore and is booked for next 5 months.
Speaking on the occasion Speaking on the occasion Mr. Bhavesh P Sheth, President of Fiberweb (India) Ltd said - "In spite of the pandemic and export restrictions on our main product: Melt Blown Fiber, in key markets, we clocked a 115% growth in the net profit for the quarter under review. During the same period, we were able to add new clients and geographies.
As the normalcy returns and economic recovery seems to be taking place, we are confident that our performance will be much better in the next few months. The healthy order book is an indication that our business strategy is on the right track."
Shares of FIBERWEB (INDIA) LTD. was last trading in BSE at Rs. 45.8 as compared to the previous close of Rs. 43.65. The total number of shares traded during the day was 284063 in over 1459 trades.
The stock hit an intraday high of Rs. 46.8 and intraday low of 39.3. The net turnover during the day was Rs. 11808823.
