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FIBERWEB (INDIA) LTD. — Earnings Release 2024
May 22, 2024
60935_rns_2024-05-22_ac489753-a68d-4f64-9680-b595d9993f69.pdf
Earnings Release
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Manufactures of: Spunbond Nonwoven Fabrics
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Date: 22[nd] May, 2024
To, To, BSE Limited National Stock Exchange of India Limited Corporate Relations Department, Exchange Plaza, 1st Floor, New Trading Ring, P. J. Plot No. C/1, G Block, Towers, Dalal Street, Bandra - Kurla Complex, Bandra (East), Mumbai - 400 001. Mumbai - 400 051.
Reference: BSE Scrip code - 507910 - Fiberweb (India) Limited NSE Scrip code: FIBERWEB
Sub.: Press Release for Q4 FY 2023-2024 Results
Dear Sir / Madam,
Pursuant to Regulation 30 of the SEBI (Listing Obligation & Disclosure Requirement) Regulation, 2015, please find attached herewith Press Release for Q4 FY 2023-2024 Results.
Kindly take note of the same.
hanking you,
Yours faithfully,
For Fiberweb (India) Limited
Digitally signed by PRAVIN VRAJLAL PRAVIN SHETH DN: c=IN, o=Personal, postalCode=400019, st=Maharashtra, serialNumber=42B1CA804A57F32F787CA VRAJLAL F3CC8DC4909D755D654242A3BACB3665 DD59C143D5D, cn=PRAVIN VRAJLAL SHETH SHETH Date: 2024.05.22 15:55:40 +05'30' Pravin V. Sheth Chairman & Director DIN: 00138797
Encl: As above
Product is manufactured in the plant, where the Management system is certified for ISO 9001 : 2015, 14001 : 2015, ISO 45001 : 2018
Mumbai : “KIRAN”, Ground Floor, 128, Bhaudaji Road, Matunga, Mumbai – 400019. Phone: 91 (22) 2404 4855 / 76 / 24082689 / 90 Regd. Office : Airport Road, Kadaiya, Nani Daman, (U.T.) – 396210.
& Works Phone: 91 (260) 222 0766/0458/1458/1858/0958 E-mail : [email protected] Website : fiberwebindia.com
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CIN NO: L25209DD1985PLC004694 ISO 9001:2015, 14001:2015, ISO 45001:2018
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Fiberweb India Q4 FY24 Total Income Up 328%
Mumbai 21[st] May, 2024 - Fiberweb (India) Ltd. a 100% EOU & manufacturers of non-woven fabrics announced its audited Q4 FY24 & FY24 result.
Q4 FY24 Key Financials at a Glance:
( ₹ Crores)
| Particular | Q4FY24 | Q4FY23 | YoY Change |
|---|---|---|---|
| Total Income | 20.95 | 4.90 | 327.55% |
| EBITDA | 5.33 | -5.40 | Loss To Profit |
| EBITDA (%) | 25.44% | -110.98% | Loss To Profit |
| Net Profit | 3.52 | -5.15 | Loss To Profit |
| Net Profit Margin (%) | 16.80% | -105.75% | Loss To Profit |
| EPS | 1.22 | -2.51 | Loss To Profit |
FY24 Key Financials at a Glance:
( ₹ Crores)
| Particular | FY24 | FY23 | YoY Change |
|---|---|---|---|
| Total Income | 86.90 | 67.38 | 28.97% |
| EBITDA | 12.37 | 3.37 | 206.82% |
| EBITDA (%) | 14.23% | 5.01% | 689 BPS |
| Net Profit | 7.28 | -0.30 | Loss To Profit |
| Net Profit Margin (%) | 8.38% | -0.44% | Loss To Profit |
| EPS | 2.52 | -0.10 | Loss To Profit |
Key Financial Highlights:
The Book Value of the company stands at ₹ 56 per share
Commenting on the performance, Mr. Bhavesh P Sheth, Director of Fiberweb (India) Ltd. said, “We are pleased to announce our Q4 and FY24 results, which demonstrate our resilience and a significant turnaround in our financial performance. We have also achieved substantial improvements in profitability, reflected in our strong margin growth.
The improving market conditions are expected to sustain our growth moving forward. We are deeply grateful to all our stakeholders for their long-term support.”
About Fiberweb (India) Ltd.:
Fiberweb (India) Ltd. (NSE: FIBERWEB BSE: 507910) established in 1985, though it started as a plastics company it ventured into garbage and carrier bags, and gradually ventured into spun bond nonwoven fabrics, first of its kind in India. Since commissioning of its plant in 1996, it is a 100% EOU, exporting to countries like USA, UK, Europe, UAE, South Africa & Australia. The company has in-house facility for manufacturing stitched garments like medical & Industrial gowns and overhauls, crop cover, aprons, car covers and other made-ups as per client’s specifications. It has also set-up a new product line of Melt-Blown Nonwoven fabrics used in filtration and absorption in the market. The company today has become long term debt-free and is exploring new opportunities & product segments for growth, it also has plans for expansions in their field of technical textiles. It is ISO 9001:2015, ISO 14001:2015, ISO 45001:2018 & known as a quality producer in the International Market.
In FY24, the Company has reported Total Revenues of ₹ 86.90 crore, EBITDA of ₹ 12.37 crore with & Net Profit of ₹ 7.28 crore.
Disclaimer:
Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
For Further Information:
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Sunil Mudgal – Director Kirin Advisors Private Limited [email protected]
M – 9869275849