SVP Global Textiles : Shares in SVP Global Textiles, one of the largest makers of compact cotton yarn, rallied sharply after the quarterly results were announced. The company released its Q3FY23 financial results on Jan. 16. The company’s share price was Rs 31.1 on January 17, 2023 and reached an all-time high on January 24, 2023 at Rs 43.50 per share. This means the company’s shares are up about 40 percent. The company’s share price closed on January 24, 2023 at Rs 40 per share, up 28.6% from the level on January 17, 2023. However, there has also been a sharp decline in the last few days. The stock closed at Rs 34.80 per share on Friday.
What were the company’s quarterly results
The company’s EBITDA margin was Rs.75.83 crore in the third quarter of FY23 compared to Rs.38.75 crore in the second quarter of FY23, growing 95.7 percent on a quarterly basis. The company’s EBITDA margin has nearly doubled while losses have come down significantly. The company aims to reduce debt by adopting an asset-light business model and a deleveraged balance sheet for future expansion.
2.62 percent increase in sales
The company’s total income from operations for the quarter ended December 2022 was Rs.301.81 crore. In the previous quarter it was Rs 294.10 crore. On a quarterly basis, it increased by 2.62 percent. The company has improved operating margin, reducing loss to Rs.554 crore in Q3FY23 from Rs.2035 crore in Q2FY23. SVP Global Textiles Limited’s vision is to become a fully integrated textile company from fiber to fashion. The company is involved in further integration into fabrics, technical textiles and garments to create its own brand.
