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SVP Global Ventures announces Q2FY22 results with EBIDTA of Rs. 93.06 crore and PAT Rs. 40.85 crore
Highlights:
- India's leading compact cotton yarn manufacturer and one of the fastest growing multinational textile company has reported a net profit of Rs. 40.85 crore for the Q2FY22 ended September 2021, as against a net profit of Rs. 10.75 crore in Q2FY21, growth of 280%. EBITDA for Q2FY22 was reported at Rs.93.06 crore (EBITDA Margin 23.18%) as compared to EBITDA of Rs. 57.63 crore (EBITDA Margin 15.83%) in Q2FY21 a growth of 61.%. Income from Operations for the Q2FY22 was reported at Rs. 405.74 crore, growth of 9% over previous fiscal's same period income from operations of Rs. 372.28 crore. EPS for Q2FY22 was reported at Rs. 3.23 per share.
- During the quarter, SVP Global subsidiary - SV Pittie Sohar Textiles (FZC) commenced commercial operations on 15th August 2021 at its mega textile plant at Sohar Free Trade Zone in Oman. The Group has invested USD 150 million (around Rs. 1,100 crore) in setting up 1.5 lakh spindles and 3,500 rotors facility.
Commenting on the results and performance, Maj Gen OP Gulia, SM, VSM (retd), CEO, SVP Global Ventures Ltd said, "Company’s performance during the quarter has been quite remarkable across all segments on the back of improving volumes, strong order book and innovative products. Expansion at Oman is completed and has started to contribute to the financial performance of the Group. Our strategic growth initiatives, enhanced capacity and operational efficiencies, product and geographical expansion with a focus on high margin products i.e Compact cotton are likely to drive profitability, contribute to the growth of the company and enhance value for our stakeholders."
For the six months ended September 2022, company posted net profit of Rs. 80.04 crore (PAT Margin 10.18%) with a growth of 271%, as against a net Loss of (Rs.46.69) crore in H1FY21. Income from Operations for the H1FY22 was reported at Rs. 817.60 crore, growth of 73% over previous fiscal's same period income from operations of Rs. 472.08 crore. EBITDA for H1FY22 was reported at Rs. 184.45 crore (EBITDA Margin 23.46%). EPS for H1FY22 was reported at Rs. 6.33 per share.
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