SVP Global Textiles Ltd reports PAT of Rs. 41.23 crore in Q3FY22, growth of 23.9% YOY

Mumbai (Maharashtra) [India], February 14 (ANI/PNN): India's leading compact cotton yarn manufacturer and one of the fastest-growing multinational textile companies, SVP Global Textiles Ltd, has reported a net profit of Rs. 41.23 crore for the Q3FY22 ended December 2021, as against a net profit of Rs. 33.29 crore in Q3FY21, a growth of 23.87%.
EBITDA for Q3FY22 was reported at Rs. 94.66 crore (EBITDA Margin 23.27%) as compared to EBITDA of Rs. 84.81 crore (EBITDA Margin 22.89%) in Q3FY21, a growth of 11.62%. Income from Operations for the Q3FY22 was reported at Rs. 406.69 crore, growth of 9.75% over previous fiscal's same period income from operations of Rs. 370.55 crore. EPS for Q3FY22 was reported at Rs. 3.26 per share.
Financial Highlights (Consolidated)
The company plans to be a fully integrated Textile Company from Fiber to Fashion with forwarding integration into fabric and garments. The company is also setting up a 4,375 MT per annum green-field facility for Technical textiles at Jhalawar, Rajasthan, with a CAPEX of Rs. 100 crore. The 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 is also going as planned. We are confident of achieving 25-30% 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, the company posted a net profit of Rs. 121.27 crore (PAT Margin 10.17%). Income from Operations for the 9MFY22 was reported at Rs. 1192.95 crore, growth of 30.79% over previous fiscal's same period income from operations of Rs. 826.37 crore. EBITDA for 9MFY22 was reported at Rs. 279.11 crore (EBITDA Margin 23.4%). EPS for 9MFY22 was reported at Rs. 9.59 per share.
Established in 1898 by Shri VallabhPittie, SVP Group is engaged in the manufacturing of polyester, polyester & cotton blend, and 100% cotton yarn across 3 state-of-the-art manufacturing facilities in Jhalawar (Rajasthan), Ramnad (Coimbatore) and Sohar (Oman). The company has a 125 year legacy in textiles and has the 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 crore.
SVP Global is among the top 2% Indian Manufacturers with technology less than 5 years old and output of 153-154 grams per spindle per shift, which is the highest in the industry. Company's manufacturing facilities are equipped with the 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.
SVP Global Textiles Ltd https://www.svpglobal.co.in/
Established in 1898, by Shri VallabhPittie, SVP Group is primarily engaged in manufacturing of polyester, polyester & cotton blend, and 100% cotton yarn across 3 state-of-the-art manufacturing facilities in Jhalawar (Rajasthan), Ramnad (Coimbatore) and Sohar (Oman). Moving up the value chain, the company has augmented its product mix to manufacture 84% compact cotton yarn and 16% traditional yarn currently. Dynamic leadership of Mr. Chirag Pittie, Director, with a futuristic vision, focused strategy and decision making along with the senior leadership team has put SVP Group in the spotlight of the World Textile market.
Company has recently commenced commercial operations at its textile plant in Sohar Free Trade Zone in Oman with an investment of USD 150 million (around Rs. 1100 crore). Company has set up 1.5 lakh spindles and 3,500 rotors facility to expand production of compact cotton yarn. With the completion of expansion at Sohar, the total operational capacity of the company has increased to 4,00,000 spindles and 5900 rotors. Expansion in Oman offers many strategic, operational, financial and logistics benefits to the company over a long period of time.
Company has a vision to become a world-leading, fully integrated textile company in manufacturing yarn, fabric and garments while achieving leadership position in the compact cotton yarn. 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 crore.
SVP Global is equipped with most modern state of the art Artificial Intelligence based machines. It is among top 2% Indian Manufacturers with technology less than 5 years old which provides 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 AI and IOT capabilities from Blow Room to Winding. Company's manufacturing facilities at Jhalawar and Oman are certified Green facilities with Zero Effluents and Zero smoke. The company has also set up a 5.4 MW Solar capacity captive power plant in India to reduce power costs.
The order book of the company currently stands at Rs. 5,000 crore equivalent to next 2-3 years of revenue. The company has all the major Global certifications such as Global Organic Textile Standards, Better Cotton Initiative, Organic Content Standard, OEKO-Tex STD-100,Fair Trade, SUPIMA Gold and ISO. Company is also accredited as an approved supplier for leading brands including IKEA and Zara. It currently employs more than 3500 people across its manufacturing facilities.
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