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Shahlon Silk declares financial results

Feb 12, 2021
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.