India’s leading compact cotton yarn manufacturer and one of the fastest growing multinational textile company, SVP Global Textiles Ltd has reported a net profit of Rs. 41.23 cr for the Q3FY22 ended December 2021, as against a net profit of Rs. 33.29 cr in Q3FY21, growth of 23.87 percent. EBITDA for Q3FY22 was reported at Rs. 94.66 cr (EBITDA Margin 23.27 percent) as compared to EBITDA of Rs. 84.81 cr (EBITDA Margin 22.89 percent) in Q3FY21, a growth of 11.62 percent. Income from Operations for the Q3FY22 was reported at Rs. 406.69 cr, growth of 9.75 percent over previous fiscal’s same period income from operations of Rs. 370.55 cr. EPS for Q3FY22 was reported at Rs. 3.26 per share.
Company plans to be a fully integrated Textile Company from Fibre to Fashion with forward integration into fabric and garments. Company is also setting up a 4,375 MT per annum green-field facility for Technical textiles at Jhalawar, Rajasthan for with a capex of Rs. 100 cr. Company has recently changed its name to SVP Global Textiles Ltd from SVP Global Venture Ltd.
Commenting on the results and performance, Maj Gen OP Gulia, SM, VSM (retd), CEO, SVP Global Textiles Ltd said, “In spite of challenging business environment post Covid, company has reported steady performance during the quarter across all segments. All our expansion plans are going as scheduled, Oman Plant is running at optimum capacity and our foray into technical textiles also going as planned. We are confident to achieve 25-30 percent growth in revenue post completion of the expansion plans. Economy and business activities are picking up momentum and we are confident to post better growth numbers in Q4 FY22.”
For the nine months ended December 2021, company posted net profit of Rs. 121.27 cr (PAT Margin 10.17 percent). Income from Operations for the 9MFY22 was reported at Rs. 1192.95 cr, growth of 30.79 percent over previous fiscal’s same period income from operations of Rs. 826.37 cr. EBITDA for 9MFY22 was reported at Rs. 279.11 cr (EBITDA Margin 23.4 percent). EPS for 9MFY22 was reported at Rs. 9.59 per share.
Established in 1898, by Vallabh Pittie, SVP Group is engaged in manufacturing of polyester, polyester & cotton blend, and 100 percent cotton yarn across 3 state-of-the-art manufacturing facilities in Jhalawar (Rajasthan), Ramnad (Coimbatore) and Sohar (Oman). Company has a 125 year legacy in textiles and has a vision to become a world-leading, fully integrated textile company in manufacturing yarn, fabric and garments. The order book of the company currently stands at over Rs. 5000 cr.
SVP Global is among top 2 percent Indian Manufacturers with technology less than 5 years old and output of 153-154 grams per spindle per shift, which is highest in the industry. Company’s manufacturing facilities are equipped with latest technology automated machinery equipped with Artificial Intelligence and IOT capabilities from Blow Room to Windling. SVP Global is accredited as an approved supplier for leading brands including IKEA and Zara. Certifications from OCS, GOTS, BCI, OEK-TEX, STD 100, Fair Trade, SUPIMA Gold and ISO.
India’s leading compact cotton yarn manufacturer and one of the fastest growing multinational textile company, SVP Global Textiles Ltd has reported a net profit of Rs. 41.23 cr for the Q3FY22 ended December 2021, as against a net profit of Rs. 33.29 cr in Q3FY21, growth of 23.87 percent. EBITDA for Q3FY22 was reported at Rs. 94.66 cr (EBITDA Margin 23.27 percent) as compared to EBITDA of Rs. 84.81 cr (EBITDA Margin 22.89 percent) in Q3FY21, a growth of 11.62 percent. Income from Operations for the Q3FY22 was reported at Rs. 406.69 cr, growth of 9.75 percent over previous fiscal’s same period income from operations of Rs. 370.55 cr. EPS for Q3FY22 was reported at Rs. 3.26 per share.
