Loyal Textile Mills reports Q3FY22 earnings

Loyal Textile Mills has reported total revenue of Rs.467.01 Cr. for the Quarter ended and Rs.1287.40 Cr for the nine months ended 31st December 2021 against Rs.301.82 Cr. and Rs.751.04 Cr. in the corresponding quarter and nine months of the previous year respectively.

Net profit for the Quarter ended 31st December 2021 has increased by 214% from Rs.8.81 Cr. in the previous year to Rs.27.66 Cr. in the current year. Rs.9.27 Cr. has been provided for depreciation and Rs.8.41 Cr. for finance cost.

Net profit for the nine months ended 31st December 2021 is Rs.72.31 Cr. as against Rs.13.68 Cr. in the previous year. Rs.28 Cr. has been provided for depreciation and Rs.23.14 Cr. for finance cost.

The Company has repaid entire term loan outstanding of Rs.52.98 Cr. as on 31st March 2021 (including payment of Rs.27.59 Cr in advance which otherwise is due for repayment between November 2021 and September 2022) availed from Banks and Financial Institution and reached the status of Zero debt (Term Loan) in November 2021.

The Board of Directors in their meeting held on 27.01.2022 has approved Modernization Plan at a CAPEX of Rs.180 Cr. for debottlenecking, replacement / renovation of old machinery to improve Productivity, Quality and reducing cost of production to be taken up and completed in the next two years. The entire CAPEX will be funded through Internal accruals.

Shares of LOYAL TEXTILE MILLS LTD. was last trading in BSE at Rs. 1441.35 as compared to the previous close of Rs. 1578.50. The total number of shares traded during the day was 10552 in over 359 trades.

The stock hit an intraday high of Rs. 1625.00 and intraday low of 1411.20. The net turnover during the day was Rs. 16155704.00.

Source : Equity Bulls

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LOYALTEXTILEMILLS INE970D01010 Q3FY22 9MFY22 ResultUpdate