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Filatex India Ltd. Q3FY20 Results


Filatex India Ltd. Q3FY20 Results

Net Revenue at Rs 737.7 crore EBITDA at Rs 55.9 crore; EBITDA Margin up 225 bps PAT at Rs 18.6 crore

New Delhi: February 15, 2020 – Filatex India Ltd (NSE: FILATEX; BSE: 526227), which is in the business of manufacturing of synthetic filament yarn shaving a wide range of products, has announced the financial results for the quarter ended December 31, 2019

Financial Highlights – Q3FY20 vs. Q3FY19:

• Revenue of INR 737.7 Cr against INR 745.8 Cr • EBITDA stands at INR 55.9 Cr against INR 39.7 Cr

• Profit Before Tax stands at 26.2 Cr against 25.5 Cr • Net Profit stands at INR 18.6 Cr against INR 16.3 Cr, 9

• Q3FY20 EPS (Basic) is INR 0.85 against INR 0.75 during Q3FY19

Financial Highlights – 9MFY20 vs. 9MFY19: • Revenue of INR 2114.8 Cr against INR 2168.3 Cr

• EBITDA stands at INR 159.7 Cr against INR 161.4 Cr • Profit Before Tax stands at 90.2 Cr against 84.9 Cr

• Net Profit stands at INR 100.4 Cr against INR 56.7 Cr • 9MFY20 EPS (Basic) is INR 4.57 against INR 2.61 during 9MFY19

Message from Management

Commenting on the performance for nine months for the financial year 2019‐20, Mr. Madhusudhan Bhageria, Chairman & Managing Director, Filatex India Ltd. said, this year the revenues are slightly less than the same period last year. The drop is due to lower crude prices which have a direct impact on key raw materials i.e. PTA & MEG. However, the EBITDA margin is almost the same as compared to the previous period as the variations be it increase or decrease in raw material prices is passed on to customers. Overall, the performance for Q3 FY 19‐20 is good keeping in view the general economic slowdown and competitive environment. We have completed installation of around 75% of our new capacity for texturizing. In the forthcoming quarter, we will have the benefit of additional texturized product which has good export potential. We expect next quarter will be better as the demand for polyester filaments is expected to grow. The abolition of anti‐dumping duty in this budget has given a positive stimulus to the demand and sentiments in the domestic market.

About Filatex India Ltd FIL is engaged in manufacturing and trading of synthetic yarn and textiles. The company manufactures polyester and polypropylene multifilament yarn and polyester chips. Filatex’s product offerings include complete range of filament, be it POY, DTY or FDY in semi dull, bright and colors of different shade, covering a wide range of coarse and fine denier. FIL has two manufacturing facilities; one at Dadra & Nagar Haveli and second one at Dahej, equipped with state‐of‐the‐art modern German machines. Filatex at present exports to 42 countries globally. FIL is accredited with ISO 9001 2015, ISO 14001:2004, ISO OHSAS 18001 2007 and Standard 100 by OEKO‐TEX.

PWR PWR

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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