Vishal Fabrics Reported an All-round Performance for Q2FY20 (Sales up by 23% YoY and PAT up by 39% YoY)

Vishal Fabrics Limited, one of the leading manufacturers of Denim Fabric reported its Un-Audited Financial Result along with a limited review Report for the quarter and half year ended 30th September 2019.

Financial Highlights Q2 & H1FY20:

Revenue increased by 23% YoY to Rs 293.05 Cr in Q2FY20 and by 30% YoY to Rs 626.7 Cr. in H1FY20

EBITDA increased by 172% YoY to Rs 10.34 Cr in Q2FY20, and 94% up YoY to Rs. 47.69 Cr. in H1FY20 PAT stood at Rs 8.59 Cr up 39% YoY as on Q2FY20 and Rs 16.61 Cr up by 97% as on H1FY20

Summary of Results (Rs in Cr)

Particulars

Q2FY20

Q2FY19

 

YoY (%)

H1FY20

 

H1FY19

YoY (%)

Revenue

 

293.05

237.41

 

23%

626.70

 

483.78

30%

EBITDA

 

23.13

10.34

 

172%

47.69

 

24.59

94%

PAT

 

8.59

6.19

 

39%

16.61

 

8.45

97%

Performance Highlights

Capacity utilization of Denim Manufacturing plant located at Dholi, Gujarat improved from 55% in Q2FY19 to 75% in Q2FY20.

Higher capacity utilization led the company to improve its operating efficiencies. Higher production helped improve economies of scale in the form of lower manufacturing and overhead costs.

Mr. Brijmohan Chiripal, Managing Director of the company, stated that, "Significant improvement in capacity utilization leads to better efficiency and higher profit margins. We expect capacity utilization to improve going ahead, also enhancing our operating leverage."

He added, "We are delighted to share our business expansion in newer geographies covering South Asian countries, MENA region. The company has developed its business with various Indian brands such as Jack & Jones, Flipkart, Myntra, Aditya Birla Group, Pantaloons and Lifestyle. Further, The company has made its presence with some International brands such as Austin, PEPCO and OVS."

About Vishal Fabrics Limited

Established in 1985, Vishal Fabrics Limited (VFL) (BSE: 538598), one of India's leading manufacturers of Denim Fabric; is a part of the Chiripal Group. The company has state-of-the-art manufacturing facility near Ahmedabad, Gujarat with an installed capacity of 80 MMPA and a processing unit of 105 MMPA. VFL is a premier supplier of top-quality stretch denim fabric which is very popular among people of all ages.

The company had appointed Haribhakti & Co. as its internal auditors, a step towards improvement in corporate governance.

Further, the Company through its CSR initiative promotes ROBOTICS Education in Rural and Urban Schools. The company has conducted 8 (Eight) ROBOTEX workshops and educated more than 2,000 children. The Robotex India competition event enrolled more than 5,000 participants.

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