Mumbai (Maharashtra) [India], May 31: The Textile Industry is undergoing continuous stress due to rising cotton prices during FY 22. The pressure is likely to continue till the arrival of the new crop in Sep 22. The spinning mills have taken a major hit. In spite of the prevailing situation, SVP Global Textiles Ltd has reported financial results in FY21-22 with a net profit of Rs 71.28 crore (Net Profit Margin 4.00%) for FY22 as against a net profit of Rs. 24.85 crore (Net Profit Margin 1.75%) in the corresponding period last year, a growth of 186.84%. Income from operations for FY22 was reported at Rs. 1778.37 crore, higher by 25.03% over the previous fiscal’s same period income of Rs. 1422.40 crore. EBITDA for FY22 was reported at Rs. 303.61 crore (EBITDA Margin 17.07 %), a rise of 29.64% compared to EBITDA of Rs. 234.19 crore (EBITDA Margin 16.46%) in FY21. EPS for FY22 was reported at Rs. 5.67 per share as compared to Rs. 1.98 per share in FY21.
The Board of Directors has decided to take adequate steps to substantially reduce the debt. In a major restructuring, the Company is adopting the assetless model and venturing into forward integration of the textile value chain. Under the new model, it will be manufacturing Technical Textiles for which the approval of the Ministry of Textiles under the PLI Scheme has already been accorded. It will also be venturing into the garment segment as a B2C model and manufacture finished garments, innerwear and other consumer items, thereby creating a brand image of its own.
Commenting on the results and performance, Maj Gen OP Gulia, SM, VSM (Retd), CEO, SVP Global Textiles Ltd, said, “Company reported steady performance during FY22 backed by strong operational and financial growth in the testing times post-Covid. The current geopolitical situation, rising cotton and other input prices, along with problems in the supply chain and exports, had an adverse impact on the textile industry. The Company is taking various steps to reduce the debt and venture into the finished garment segment. The value addition will create a brand image and maximize value for shareholders in the near to medium term.”
levofloxacin 500mg uk brand levaquin 500mg
I actually wanted to compose a small note to thank you for the lovely tactics you are giving on this site. My considerable internet look up has now been honored with beneficial facts to go over with my guests. I would express that we readers actually are truly fortunate to exist in a very good site with very many perfect people with very beneficial basics. I feel rather grateful to have seen your entire webpages and look forward to some more awesome minutes reading here. Thanks once more for a lot of things.
Lovely website! I am loving it!! Will come back again. I am taking your feeds also.
Hey there, You’ve done a great job. I will definitely digg it and personally recommend to my friends. I’m confident they’ll be benefited from this website.
I am glad for writing to let you be aware of what a exceptional discovery our daughter found using the blog. She figured out several pieces, including what it is like to possess a marvelous helping spirit to get folks clearly understand several complex things. You truly did more than her desires. Many thanks for churning out these good, trusted, educational and unique guidance on the topic to Janet.
I think this internet site contains some real good info for everyone. “A man’s dreams are an index to his greatness.” by Zadok Rabinwitz.
Hey there! Someone in my Facebook group shared this site with us so I came to check it out. I’m definitely loving the information. I’m bookmarking and will be tweeting this to my followers! Terrific blog and amazing design and style.
Hiya, I am really glad I have found this info. Today bloggers publish just about gossips and web and this is really annoying. A good website with exciting content, this is what I need. Thanks for keeping this site, I’ll be visiting it. Do you do newsletters? Can’t find it.
Perfect piece of work you have done, this website is really cool with fantastic info .
Way cool, some valid points! I appreciate you making this article available, the rest of the site is also high quality. Have a fun.
You need to participate in a contest for the most effective blogs on the web. I’ll advocate this site!
Thank you for sharing with us, I believe this website really stands out : D.
Very interesting points you have mentioned, appreciate it for putting up.
Just want to say your article is as astonishing. The clearness in your submit is just spectacular and i can think you’re a professional on this subject. Fine together with your permission allow me to seize your RSS feed to stay updated with drawing close post. Thanks 1,000,000 and please carry on the enjoyable work.
You made some nice points there. I did a search on the subject and found most guys will approve with your blog.
What’s Going down i am new to this, I stumbled upon this I have discovered It absolutely helpful and it has helped me out loads. I’m hoping to contribute & aid different customers like its aided me. Good job.
whoah this blog is magnificent i love reading your articles. Keep up the good work! You know, lots of people are looking around for this info, you could aid them greatly.
An attention-grabbing dialogue is worth comment. I think that it’s best to write more on this subject, it may not be a taboo topic but generally people are not enough to speak on such topics. To the next. Cheers
We are a gaggle of volunteers and starting a brand new scheme in our community. Your web site offered us with useful information to paintings on. You have done an impressive job and our entire community will probably be thankful to you.
Of course, what a great website and informative posts, I definitely will bookmark your blog.Have an awsome day!
free welcome spins no deposit online roulette game burton brunette
order fluconazole 200mg sale buy viagra 50mg online buy viagra 50mg
order keflex pills cost erythromycin cost erythromycin
buy deltasone 40mg pill isotretinoin 20mg oral order amoxicillin 500mg pill