Filatex India Announces Q4FY24 & FY24 Audited Results
Filatex India Ltd, a leading manufacturer of synthetic filament yarns, reported its audited results for Q4FY24 & FY24 on April 30, 2024.
Filatex reported revenue of Rs 1,026 crore in Q4FY24 (Rs 1,083 cr in Q3FY24), EBITDA of Rs 64.6 cr (vs. Rs 74.7 cr), Profit Before Tax of Rs 47.2 cr (vs. Rs 25.2 cr), Net Profit of Rs 34.8 cr (vs. Rs 35.1 cr), production quantity: 96,969 MT (vs. 1,02,924 MT) and sales quantity: 96,419 MT (vs. 1,00,745 MT)
The FY24 highlights (YoY) include revenue of Rs 4,286 cr (vs. Rs 4,304 cr in FY23), EBITDA Rs 237.8 cr (vs. Rs 233.9 cr), Profit Before Tax Rs 150.4 cr (vs. Rs 122.1 cr) , Net Profit Rs 110.7 cr (vs. Rs 89.9 cr), production quantity of 4,05,603 MT (vs. 3,80,197 MT) and sales quantity of 4,01,052 MT (vs. 3,82,133 MT)
Madhu Sudhan Bhageria, CMD of Filatex India Ltd, highlighted challenges faced by the Indian textile industry, including the Quality Control Order (QCO) by the Government of India for polyester yarns and surge in low-price knitted fabric imports from China. Despite these challenges, domestic demand remains strong, growing at an impressive 8% CAGR. Bhageria expressed optimism about the future of the polyester filament business, expecting margin pressures to ease as import-related challenges subside.
