Home / Companies / Company Results /  Vishal Fabrics announces bonus issue, Q3 revenues jumps 46%

Vishal Fabrics has reported 46 per cent jump in its revenue in Q3FY22 results. The fabric company has reported 427 crore revenue in Q3FY22 against 292 crore revenue in Q3FY21. Vishal Fabric, a company which is known for dyeing, printing, and processing denim and other wide range of fabrics, has announced 97 per cent jump in net profit after tax (PAT) as its net profit after tax stands at near 19 crore in Q3 FY2021-22 against 10 crore net profit after tax in Q3FY21.

Buoyed by strong Q3 earning; Vishal Fabrics announced 2:1 bonus issue citing, "The Board of Directors in their meeting held on 27.01.22 declared the Issue of Bonus Shares of the proportion of 2 (Two) Equity Share of Rs. 5/- each for every 1 (one) Equity Share of Rs.5/- each held by shareholders of the Company as on the record date, subject to the approval of members and other approvals, consents, permissions, conditions and sanctions, as may be necessary."

Commenting on the strong quarterly performance; Brijmohan Chiripal, Managing Director & CEO at Vishal Fabrics said, "During the quarter the company was able to achieve sustainable margins. The company was able to successfully pass on the additional cost to the customers. Our continuous efforts to keep operating expenses under control helped to maintain EBITDA margins. Moreover, we carried forward the momentum and recorded 46 per cent growth in the sale of finish fabrics. Capacity utilization level during the quarter remains stable. Our order book continues to be strong for the fourth quarter of FY22. To deliver superior outcomes to all of our stakeholders, we reaffirm our continuous focus on quality, production efficiency, on-time delivery, design, and innovation. While the short-term headwinds may persist, we continue to be optimistic on the growth opportunities for the Indian textile industry on a long-term basis and our ability to increase utilization level and increase our revenue and market share."

Comparing first 9 months performance of the company in FY22 with its first 9 months performance in FY21, Vishal Fabrics revenue has shot up 94 per cent as its revenue for the 9MFY22 stands at 1,121 crore against 579 crore revenue in 9MFY21. Its EBIDTA margins for Q3FY22 stood at 10.2 per cent as compared to 8.3 per cent in Q3FY21, a growth of 191 bps. Company's EBIDTA for 9MFY22 stands at 117 crore against 47 crore EBIDTA for 9MFY21. Similarly, net profit after tax for 9MFY22 stands at 49 crore against 4 crore for 9MFY21.

Vishal Fabrics share price history

Vishal Fabrics shares are one of the fast upside moving stocks in 2022. The stock has surged from 89.30 per share levels (close price on 31st December 2021 on NSE) to 130.40 apiece levels on NSE today, logging around 46 per cent rise in year-to-date time. It is one of the multibagger stocks in 2021 as it has shot up from around 42 to 130.40 levels, appreciating to the tune of near 200 per cent in last one year.

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