Net Revenue at Rs 57.73 crore EBITDA was at Rs 14.27 crore; EBITDA margin up by 1468 bps PAT was at Rs 5.80 crore Mumbai, February 11, 2021: Shahlon Silk Industries Ltd., a leading textile enterprise, has declared its financial results for the Quarter ended December 31, 2020.
Q3FY21 - Financial Highlights: • Revenue from Operations was at Rs 57.73 crore • EBITDA (post exceptional item adjustments) was at Rs 14.27 crore as compared to Rs 7.91 crore in Q3FY20; registered a growth of 80.3% • EBITDA Margin improved by 1468 bps to 24.66% from 9.98% in Q3FY20 • Net Profit was at Rs 5.80 crore; increased significantly from Rs 0.05 crore in Q3FY20 The company has made a total profit of Rs 13.60 crore from sale of land (at Vadodara - Mumbai Express Highway) to Govt of India during the nine months of this financial year. The sale of land was the compulsory acquisition by the Govt. The profit amount of Rs 10.85 crore from this sale of land has been included in the Q3FY21 EBITDA of Rs 14.27 crore. The balance profit of Rs 2.75 crore from this was included in Q2FY21.
Commenting on the Results, Mr. Dhirajlal Raichand Shah, Chairman, said that, “We are witnessing solid recovery in demand of yarns and fabrics in both domestic and international markets. The demand pick-up has already started driving more orders inflows and expected to remain strong in the coming quarters. Company’s exports are largely normalized to pre-covid levels.” He further added that, “The government’s focus on increasing domestic manufacturing share of specific textile products is clearly visible through incentive schemes and increasing capex in recent budget for FY22. We believe that the demand of fabrics and yarns to pick-up significantly in both domestic & export markets in the coming period.” PWR PWR