NE BUSINESS BUREAU
AHMEDABAD, JULY 11
Denim major Vishal Fabrics Limited on Friday reported that the company’s revenue increased by 30 percent to Rs 1,296.84 crore in FY20 which was Rs 998.49 crore in FY 19. The profit after tax (PAT) stood at Rs 30.10 crore up 69% YoY basis; similarly, PAT margins also witnessed upswing from 1.79% to 2.32% YoY.
The company reported a revenue of Rs 343.74 crore and its profit after tax (PAT) stood at Rs 5.12 crore during the fourth quarter ended March 31, 2020. There is no significant impact of COVID-19 on the company’s performance in the Q4FY20.
Commenting on the performance, Brijmohan Chiripal, Managing Director, Vishal Fabrics Limited, said, “We have witnessed improvement in capacity utilisation which has led to better efficiency and higher profit margins. We are delighted to share our business expansion in newer geographies covering South Asian countries, the MENA region coupled with strengthening our existing markets of Sri Lanka and Bangladesh. The COVID-19, a global pandemic, has led to significant distress in the business operations across the globe.”
CSR activities
“During such challenging times, we are committed to ensuring business continuity, employee safety, and liquidity management. We believe in social cause and hence, Chiripal Group contributed Rs. 1 crore to Gujarat CM Relief Fund along with various other measures to fight Covid-19 pandemic,” Chiripal added.
Further, the company through its public trusts is indulging in promoting the Robotex in India. Various workshops had been conducted in the last two years to develop the same and Robotex India has represented our country in Robotex Asia event in August 2019 and secured the second position among all Asian countries.
