Ahmedabad-based denim fabric mill Vishal Fabrics Limited has achieved the highest ever revenue, earnings before interest depreciation and amortization (EBITDA) & profit after tax (PAT) in the financial year 2021-22, despite a challenging environment.
In a statement, the company informed about its audited standalone financials for the fourth quarter ended 31 March 2022.
The company also promoted its CFO Vinay Thadani as CEO.
It recorded revenue of Rs. 426 crore during Q4, FY22, as against Rs. 388 crore in Q4, FY21 – at a growth of 10 per cent. Notably, the revenue for FY22 stood at Rs. 1,547 crore, as against Rs. 968 crore in FY21, at a growth of 60 per cent.
The company’s net PAT for Q4, FY22 stood at Rs. 20 crore as compared to Rs. 14 crore for Q4, FY21, noticing a growth of 41 per cent.
For FY22, the same was Rs. 69 crore as compared to Rs. 18 crore for FY21, witnessing a growth of 281 per cent.
Brijmohan Chiripal, MD of the company, said “Our remarkable performance in FY22 was fuelled by our team’s extraordinary efforts to set new records.”
Vinay Thadani, CEO, said, “We believe that we have built a strong foundation for the future with sustainable and profitable growth for the long term. Large interest is to build the profitability by maintaining cost control measures and focus on improving return ratios and maintaining healthy balance sheet position by following our asset-light model.”
