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18 February 2022, Mumbai:
In its Q3 FY22 ended December 2021, India's leading compact cotton yarn manufacturer, SVP Global Textiles’ net profit grew by 23.87 per cent to 41.23 crore as against a net profit of Rs 33.29 crore recorded in Q3FY21.
The company’s EBITDA for Q3FY22 grew by 11.62 per cent to Rs. 94.66 crore compared to EBITDA of Rs 84.81 crore in Q3FY21. Income from operations grew 9.75 per cent in Q3FY22 to Rs 406.69 crore.
The company is setting up a 4,375 mtpa Greenfield facility for technical textiles at Jhalawar, Rajasthan, with an investment of Rs 100 crore. It recently changed its name to SVP Global Textiles from SVP Global Venture.
ALSO READ: SVP Global Ventures Limited has changed its name to SVP Global Textiles Limited
Foray into technical textiles is also going as planned and it hopes to achieve 25-30 per cent revenue growth post completion of the expansion plans.
Established in 1898 by VallabhPittie, SVP Group manufactures polyester, polyester and cotton blend, and 100 per cent cotton yarn across three state-of-the-art manufacturing facilities in Jhalawar (Rajasthan), Ramnad (Coimbatore) and Sohar (Oman).
The company aims to become a world-leading, fully integrated textile company in manufacturing yarn, fabric and garments.
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