Textiles company Filatex India announced Q2FY23 results: Financial Highlights (QoQ) – Q2FY23 vs Q1FY23: Revenue from operations of Rs 1163.42 crore against Rs 1023.29 EBITDA stands at Rs 46.26 crore against Rs 74.31 crore Profit Before Tax stands at Rs 34.08 crore against Rs 58.48 crore Net Profit stands at Rs 25.16 crore against Rs 43.39 crore Sales Quantity stands at 1,01,488 MT against 83,066 MT Financial Highlights (YoY) – H1FY23 vs H1FY22: Revenue from operations of Rs 2,186.71 crore against Rs 1,663.86 crore EBITDA stands at Rs 120.57 crore against Rs 226.30 crore Profit Before Tax stands at Rs 92.56 crore against Rs 187.33 crore Net Profit stands at Rs 68.55 crore against Rs 125.92 crore Sales Quantity stands at 1,84,554 MT against 1,57,758 MT Madhu Sudhan Bhageria, CMD, stated, “Volatility and fluctuations in global energy and crude prices due to the ongoing Russia-Ukraine War along with China’s zero-Covid policy have adversely impacted the Indian Polyester industry. Low domestic consumption in China has driven the Chinese polyester manufacturers to flood Indian markets as well as export markets at very low prices resulting in immense pressure on margins. However, the demand in the domestic market has been good. Despite large volumes of import from China at very low costs, we were able to achieve 100% utilisation in our yarn capacities while maintaining inventory levels albeit at the cost of discounts resulting in low margins. During the quarter, we also commissioned and started commercial production of our project for debottlenecking melt capacity of 50 MT per day and manufacturing lines of 120 MT per day POY at Dahej Plant.” Result PDF
Textiles firm Filatex India Announced Q1FY23 Result : Revenue of INR 1023.30 Cr against INR 698.91 Cr EBITDA stands at INR 74.31 Cr against INR 101.17 Cr Profit Before Tax stands at INR 58.50 Cr against INR 76.12 Cr Net Profit stands at INR 43.40 Cr against INR 52.14 Cr Sales Quantity stands at 83,066 MT against 67,704 MT Commenting on the performance Mr. Madhu Sudhan Bhageria, Chairman & Managing Director, stated, “This quarter was defined by the extreme volatility in crude prices & exchange rates and the slowdown in global economies because of the Russia – Ukraine War. Market sentiments were adversely affected by the increase in inflation rates in the country as well as the instability in yarn prices. Due to this general slowdown of markets, we achieved a revenue of Rs.1023.30 crores, an EBIDTA of Rs. 74.31 crores, a PBT of Rs. 58.50 crores and a PAT of Rs. 43.40 crores. Commissioning activities for the POY expansion project at our Dahej unit have started in July. We are likely to achieve commercial operations by August 2022.” Result PDF
Textiles company Filatex India announced Q4FY22 results: Revenue from Operations of Rs 3828.1 crore against Rs 2227.2 crore (up 71.9 %) EBITDA stands at Rs 531.1 crore against Rs 347.3 crore (up 52.9 %) Profit Before Tax stands at Rs 458.6 crore against Rs 239.6 crore (up 91.4 %) Net Profit stands at Rs 302.7 crore against Rs 165.8 crore (up 82.5 %) Sales quantity for the year is 3,40,665 MT against 2,59,905 MT (up 31.1 %) Summarizing the annual performance, Mr. Madhu Sudhan Bhageria, Chairman & Managing Director, stated, “We are pleased to announce that the company has delivered substantial growth in FY22 as compared to FY21. We achieved an EBIDTA of INR 531.1 crores, profit before tax of INR 458.5 crores and profit after tax of INR 302.7 crores in FY22 which are all new highs for the company. The company also achieved highest production and sales quantities of 3,41,480 MT and 3,40,665 MT respectively in FY22. Continued growth and a healthy cashflow surplus allowed the company to prepay a large share of its term loans in FY22, resulting in reduction of debt-equity ratio to 0.33x from 0.77x in FY21. Steady margins and improved profitability also led to an improved Return on Equity (RoE) up from 24.43% in FY21 to 32.76% in FY22. Return on Capital Employed (RoCE) improved from 21.01% in FY21 to 31.16% in FY22. The company announced its first-ever Buyback of equity shares in March 2022 and we hope to continue delivering value to our shareholders consistently.” Result PDF
Textiles company Filatex India declares Q3FY22 result: Financial Highlights (QoQ) – Q3FY22 vs Q2FY22 Revenue of INR 1074.2 Cr against INR 965.0 Cr (Up 11.3%) EBITDA stands at INR 159.2 Cr against INR 125.1 Cr (Up 27.2%) Profit Before Tax stands at 147.6 Cr against 109.6 Cr (Up 34.8%) Net Profit stands at INR 98.3 Cr against INR 73.9 Cr (Up 33.2%) Sales quantity for the quarter 90,398 MT is against 90,054 MT (Up 0.4%) Financial Highlights (YoY) – Q3FY22 vs Q3FY21 Revenue of INR 1074.2 Cr against INR 721.6 Cr (Up 48.9%) EBITDA stands at INR 159.2 Cr against INR 120.2 Cr (Up 32.5%) Profit Before Tax stands at 147.6 Cr against 91.2 Cr (Up 61.9%) Net Profit stands at INR 98.3 Cr against INR 66.0 Cr (Up 48.8%) Sales quantity for the quarter 90,398 MT is against 86,534 MT (Up 4.5%) Commenting on the performance of this quarter, Mr. Madhu Sudhan Bhageria, CMD, stated, “The economy has shown a good recovery post the 2nd wave of Covid on account of widespread vaccination. The recovery along with the onset of the festive and wedding season revived the demand in the market. This has helped the company achieve an EBIDTA of INR 159.2 crores, profit before tax of INR 147.6 crores and profit after tax of INR 98.3 crores in this quarter. The work on our expansion project of debottlenecking melt capacity of 50 TPD and manufacturing lines of 120 TPD of POY is progressing well. We are targeting to complete the installation and commissioning activities by June 2022.” Result PDF
Highlights: (QoQ) – Q2FY22 vs Q1FY22: Revenue from Operations of INR 964.95 Cr against INR 698.91 Cr (Up by 38.1%) EBITDA stands at INR 125.14 Cr against INR 101.16 Cr (Up by 23.7%) Profit Before Tax stands at INR 109.57 Cr against INR 77.76 Cr (Up by 40.9%) Net Profit stands at INR 73.78 Cr against INR 52.14 Cr (Up by 41.5%) (YoY) – Q2FY22 vs Q2FY21: Revenue from Operations of INR 964.95 Cr against INR 507.79 Cr (Up by 90.0%) EBITDA stands at INR 125.14 Cr against INR 44.52 Cr (Up by 181.1%) Profit Before Tax stands at INR 109.57 Cr against INR 12.68 Cr (Up by 764.1%) Net Profit stands at INR 73.78 Cr against INR 9.39 Cr (Up by 685.7%) (YoY) – H1FY22 vs H1FY21: Revenue from Operations of INR 1,663.56 Cr against INR 652.80 Cr EBITDA stands at INR 226.30 Cr against INR 38.36 Cr Profit Before Tax stands at INR 187.33 Cr against INR (24.60) Cr Net Profit stands at INR 125.92 Cr against INR (18.59) Cr Commenting on the performance Mr. Madhu Sudhan Bhageria, CMD, stated, “Recovery post the second wave of Covid-19 was faster as there was no curb on operations. The government’s vaccination program alleviated the fears of the work force. Good capacity utilization and improvement in demand helped Filatex deliver a stronger second quarter with revenues from operations of INR 965.94 crores and an EBIDTA of INR 125.12 crores. During the quarter, Filatex commissioned and commenced commercial production of its captive thermal power plant of 30 MW capacity at Dahej on 4th August 2021. Filatex is also pleased to inform its stakeholders that in view of its improved performance and subsequent reduction of its debt with consortium bankers, the debt equity ratio of the company has improved from 0.77 as on 31st March 2021 to 0.56 as on 30th September 2021. Keeping the same in mind, the bankers have released 100% of promoter’s pledged shares, 4,87,41,500 equity shares, as collateral security.” Result PDF