SVP Global Textiles Ltd reported Annual Results; net Revenue of Rs 1778.37 Crs up by 25% and PAT of Rs 71 Crs up by 187% Y-o-Y

Business

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 Ltdsaid, “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.”

24 thoughts on “SVP Global Textiles Ltd reported Annual Results; net Revenue of Rs 1778.37 Crs up by 25% and PAT of Rs 71 Crs up by 187% Y-o-Y

  1. 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.

  2. 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.

  3. 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.

Leave a Reply

Your email address will not be published.