INDIA, 8th  AUGUST, 2022 (GPN):- Vishal Fabrics Limited (BSE: 538598) (NSE: VISHAL) announced its un-audited standalone financials for the first quarter ended 30th June 2022.

Commenting on the performance, Mr. Brijmohan Chiripal, Managing Director, said, “During the quarter the company was able to achieve sustainable margins. The Company experienced robust revenue growth with Revenue of Rs.442 Cr in Q1FY23 as compared to Rs.295 Cr in Q1 FY22 on the back of new capacity which was operationalized during the quarter. Our efforts taken to control operational cost helped to achieve EBITDA growth of 43% in Q1FY23 with EBITDA of Rs. 44 Crs v/s Rs. 31 Crs in Q1FY22. The company was able to successfully pass on the additional cost to the customers. Our order book continues to be strong for the upcoming quarters. The company’s growth trajectory is expected to accelerate further, in the upcoming quarters underpinned by the recovery in domestic markets.” 

Standalone Financial Performance:

Particulars (Rs. Crs)	Q1FY23	Q1FY22	YoY	Q4FY22	QoQ	FY22
Revenue from Operations	442	295	50%	426	4%	1,547
EBITDA	44	31	43%	44	-0.4%	161
EBITDA (%)	10.0%	10.5%	(47)bps	10.4%	(43)bps	10.4%
EBIT	37	23	64%	36	1%	131
EBIT Margin (%)	8.4%	7.7%	70bps	8.6%	(20)bps	8.5%
Profit After Tax	19	10	85%	20	-4%	69
PAT Margin (%)	4.3%	3.5%	82bps	4.6%	(33)bps	4.5%
EPS	0.96	0.52		0.99		3.49
Cash PAT	27	19		30		102

 Sales Volume Performance

	Dholi unit
Particulars	Q1FY23	Q1FY22	FY22	FY21
Utilisation%	79%	85%	85%	65%
Capacity (MMTPA)	23	20	80	80
	Narol unit
Particulars	Q1FY23	Q1FY22	FY22	FY21
Utilisation%	86%	60%	70%	85%
Capacity (MMTPA)	26	26	105	105

Financial & Business Highlights:

Revenue 

The Company recorded Revenue of Rs.442 Crs during Q1FY23, as against Rs. 295 Crs in Q1FY22, a growth of 50%. 

EBITDA   

EBIDTA for Q1FY23 stood at Rs. 44 Crs as compared to Rs.31 Crs for Q1FY22, a growth of 43%.

EBIDTA margins for Q1FY23 stood at 10.0% as compared to 10.5% in Q1FY22, a de-growth of 47bps. 

Rising raw material prices put pressure on the EBITDA margin

PAT

Net profit after tax for Q1FY23 stood at Rs.19 Crs as compared to Rs.10 Crs for Q1FY22, a growth of 85%          

EPS for Q1FY23 stood at Rs. 0.96

Debt Reduction

We target to reduce debt by Rs. 35-40 Crs in FY23 out of which Rs.15 Crs has already been paid in June 2022.Ends.

About Vishal Fabrics Limited:

Vishal Fabrics Limited (VFL) is a denim manufacturing and fabric processing unit incorporated in 1985. A part of the renowned Chiripal Group, the Company leverages over 3 decades of experience to provide unmatched products to a diverse clientele. 

The Company constantly strives to improve its manufacturing facilities and aims to develop India’s leading dyeing, printing, and processing units. Its state-of-the-art manufacturing facilities are equipped with the latest technology and deliver innovative products that adhere to international quality standards. Over the years, the company has managed to emerge as a pioneer in the textile industry, setting new standards of excellence.