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Friday, February 26th, 2021

SVP Global Q3 Results exceeds Expectations, Consolidated QoQ PAT up 35%

One of the largest compact cotton yarn manufacturers in the world 

INVC NEWS
Chennai,

SVP Global Ventures Limited has declared its unaudited Financial Results for the Quarter & Nine month ended December 31, 2020

Photo attached 

Caption : Sohar Factory in Oman.

Consolidated Result Highlights:

  • Revenue for Q3FY21 stood at Rs. 371 crs as compared to Rs. 386 crs in Q3FY20 down by 4%. Revenue for 9MFY21 stood at Rs. 826 crs
  • EBIDTA for Q3FY21 stood at Rs. 76 crs as compared to Rs. 49 crs in Q3FY20 an increase of 55%. EBIDTA margin for the quarter stood at 20.6% up by 780 bps Y-o-Y. EBIDTA for 9MFY21 stood at Rs. 116 crs with an EBIDTA margin of 14%.
  • Operational efficiencies, better product mix and cost rationalization led to considerable increase in margins on a sustainable basis.
  • Consolidated PAT for the quarter stood at Rs. 33 crs, an increase of 35% as compared to Q3FY20. PAT margins increased by 260 bps to 9% for Q3FY21 compared to 6.4% for the same period last year.

Commenting on the results and performance for Q3 & 9MFY21, Major General O.P. Gulia, President for SVP Global Ventures Limited said: The cost rationalization initiatives by the company during the first half of the year coupled with better product mix and operational efficiencies led to a margin expansion of 780 bps as compared to same period last year. The major revolution was brought in by increasing the manufacturing of compact cotton yarn to 84% backed by strong order book

 

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