Unaudited Standalone Financial Results for the Quarter Ended 30th September 2021
Mr. Brijmohan Chiripal, Managing Director & CEO, commented:
“Vishal Fabrics reported a strong financial performance in Q2FY22. We have emerged stronger by achieving higher revenues and improving our balance sheet position. The revenue growth was mainly driven by increased sales volumes while maintaining realizations at previous quarter levels. The company implemented various cost-efficiency measures during the quarter, which helped sustain EBITDA margins. We remain strong and resilient, with sufficient liquidity, stability, and profitability to support long-term sustainability and growth opportunities.”
Standalone Financial Performance (₹ in Crs)
| Particulars | Q2FY22 | Q2FY21 | YoY % | Q1FY22 | QoQ % | H1FY22 | H1FY21 | YoY % |
|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | 400 | 220 | 82% | 295 | 35% | 694 | 287 | 142% |
| Gross Profit | 72 | 44 | 65% | 53 | 36% | 125 | 58 | 115% |
| Gross Profit Margin (%) | 18.0% | 19.9% | -190 bps | 18.0% | – | 18.0% | 20.3% | -230 bps |
| EBITDA | 42 | 17 | 142% | 31 | 37% | 73 | 23 | 220% |
| EBITDA Margin (%) | 10.6% | 8.0% | +260 bps | 10.5% | +10 bps | 10.5% | 8.0% | +250 bps |
| EBIT | 36 | 12 | 203% | 23 | 58% | 58 | 12 | 382% |
| EBIT Margin (%) | 9.0% | 5.4% | +360 bps | 7.7% | +130 bps | 8.4% | 4.2% | +420 bps |
| Profit After Tax (PAT) | 20 | 2 | 699% | 10 | 93% | 30 | (5.7) | – |
| PAT Margin (%) | 4.9% | 1.1% | +380 bps | 3.5% | +140 bps | 4.3% | – | – |
| EPS | 3.00 | 0.57 | – | 1.55 | – | 4.56 | (1.32) | – |
| Cash PAT | 27 | 8 | – | 19 | – | 46 | 5 | – |
Sales Volume Performance
Dholi Unit
| Particulars | Q2FY22 | Q2FY21 | H1FY22 | H1FY21 |
|---|---|---|---|---|
| Utilization % | 85% | 47% | 85% | 32% |
Narol Unit
| Particulars | Q2FY22 | Q2FY21 | H1FY22 | H1FY21 |
|---|---|---|---|---|
| Utilization % | 52% | 66% | 56% | 41% |
Financial & Business Highlights
Revenue:
Q2FY22: ₹400 Cr (up 82% YoY)
H1FY22: ₹694 Cr (up 142% YoY)
EBITDA:
Q2FY22: ₹42 Cr (up 142% YoY)
Margin: 10.6% (up 260 bps YoY)
H1FY22: ₹73 Cr (up 220% YoY)
Margin: 10.5% (up 250 bps YoY)
PAT:
Q2FY22: ₹20 Cr (up 699% YoY)
H1FY22: ₹30 Cr (vs. ₹-5.7 Cr in H1FY21)
EPS (Q2FY22): ₹3.00
EPS (H1FY22): ₹4.56
Standalone Balance Sheet (₹ in Cr)
| Particulars | Sept-21 | Mar-21 |
|---|---|---|
| Long Term Debt | 261 | 280 |
| Short Term Debt | 120 | 107 |
| Gross Debt | 381 | 387 |
| Cash & Bank Balance | 22 | 21 |
| Net Debt | 359 | 366 |
| Shareholders' Equity | 294 | 265 |
| Net Debt/Equity | 1.22 | 1.38 |
Note: Reduction of ₹19 Cr in long-term debt during H1FY22 reflects the company’s ongoing efforts .
