Fiberweb (India) Ltd. reports sales of Rs.32 crore for Q2 FY-20

MUMBAI, 9^thNovember, 2019 (GPN) :     Fiberweb (India) Ltd (BSE – 507910), a 100% EOU manufacturers of non-woven fabrics reported sales of Rs 32.4crore for FY20 ending 30^thSeptember 2019. The company on standalone basis has reported EBIDTA of Rs 5.5 crore, with EBIDTA margins of 16.9%. The net profit were reported at Rs 4.1crore for the 2^ndquarter of FY20 ending 30^th September 2019.

Financial Highlights for Q2FY20

·       Total revenues on standalone have been reportedat Rs 32.4 crore on for second quarter of FY20 ending 30^th. September 2019 as compared to Rs 31.9 crore in the same period of FY19.

·       It reported EBIDTA at Rs.5.5 crore for Q2FY20 ending 30^th September2019, as compared to Rs.7.04 crore reported in the same quarter of FY19. It reported EBIDTA margins of 16.9% for the said period.

·       Net Profit for Q2FY20is reported at Rs4.1 crore as compared to Rs 5.79 crore reported for the quarter ending 30^th September 2019 on standalone basis.

·       The net margins recorded during the period was strong recorded at12.6% for the period under consideration.

·       Company has reported EPS of Rs. 1.4 per share for Q2FY20 on standalone basis.

Speaking on the occasion Mr.Bhavesh. P. Sheth, President of Fiberweb (India) Ltd said – “ The company is currently undergoing the transition. The Management has also simultaneously initiated steps to increase the turnover and propel the future growth of the company, by entering into niche product segments, the plans for which should be in place by end of the current financial year.”