Shahlon Silk declares financial results

Shahlon Silk Industries, a
leading textile enterprise, has declared its financial results for the quarter
ended 31, December, 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 per
cent

·      
EBITDA margin improved by 1468 bps to 24.66 per cent from
9.98 per cent 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 government of India during the nine months of this financial year.
The sale of land was the compulsory acquisition by the government. 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,
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. The company’s exports are largely normalised 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 and export markets in the
coming period.”

 

Shahlon Silk Industries
Ltd, leading fashion to technical fabric player to domestic and leading fashion
brands across the world, is based in Surat, the textile hub of India. With the
unwavering vision to be a fully integrated textile enterprise, and the strong
support from workforce of more than 1800 employees, the company has expanded
from yarn marketing agency to texturizing, twisting, sizing, yarn dyeing,
weaving, finish fabrics and industrial infrastructure fabric player in the
country.

 

Shahlon Silk Industries
Limited is engaged in manufacturing and exporting of supreme quality fabrics
and synthetic textile yarn across the world. Headquartered in Surat, SSIL has
state of art facilities in and around Surat, the textile hub of India. The
company has three manufacturing units in Gujarat located at Kim, Karanj, and
Kosamba.

The company is leading
player in fabric used in women’s wear like sarees and garments, which are
growing segments and have been growing at double digits. The company has major
share of domestic revenues from garments makers situated at cities like Delhi, Mumbai,
Bengaluru which are manufacturing garments for leading domestic and
international brands.