Fiberweb India Q1 FY23 QoQ PAT up by 35 per cent
Aug 16, 2022
New Delhi [India], August 16 (ANI/PNN): Fiberweb (India) Ltd. a 100 per cent EOU and manufacturer of non-woven fabrics announced its unaudited Q1 FY23 result.
Q1 FY23 Key Financials at a Glance:
- Total Income for the Q1 FY23 stood at Rs 17.45 crore.
- EBITDA for the Q1 FY23 stood at Rs 2.90 crore.
- PAT for the Q1 FY23 stood at Rs 1.70 crore.
- EPS for the Q1 FY23 stood at Rs 0.59
Speaking on the occasion Bhavesh P Sheth, Director of Fiberweb (India) Ltd said, "The quarter gone by has started giving results for our efforts of focusing on the more value-added products. We introduced new value-added products during the quarter which has helped us in battling the high freight charges of shipping. If we had not pivoted on these products and supplied only basic products this quarter would have been difficult.
Our experience and understanding of markets have helped us in developing these value-added products in time. These products have been accepted by all our major clients and we intend to focus more on these products.
Once shipping freight normalizes we will see these value-added products will improve our profitability margins."
Fiberweb (India) Ltd. (NSE: FIBERWEB BSE: 507910) established in 1985, though it started as a plastics company it ventured into garbage and carrier bags, and gradually ventured into spun bond nonwoven fabrics, the first of its kind in India. Since the commissioning of its plant in 1996, it is a 100 per cent EOU, exporting to countries like the USA, UK, Europe, UAE, South Africa and Australia. The company has an in-house facility for manufacturing stitched garments like medical and Industrial gowns and overhauls, crop cover, aprons, car covers and other made-ups as per client's specifications. It has also set up a new product line of Melt-Blown Nonwoven fabrics used in filtration and absorbent in the market. The company is exploring new opportunities and product segments for growth, it also has plans for expansions in their field of technical textiles. It is ISO 9001:2015, ISO 14001:2015, OHSAS 18001:2007 and known as a quality producer in the International Market.
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