Fiberweb (India) Ltd. Unveils Spunlace Project Expansion Plan Alongside Q3 & 9M FY24 Financial Results
Mr. Bhavesh P Sheth, Director of Fiberweb (India) Ltd., commented
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Fiberweb (India) Ltd., a 100% EOU and leading manufacturer of non-woven fabrics, has revealed its ambitious Spunlace Project Expansion plan alongside the unaudited financial results for Q3 and 9M FY23.
Key Financial Highlights for Q3 FY24:
- Total Income: ₹14.95 Cr
- EBITDA: ₹2.08 Cr
- EBITDA Margin: 13.92%
- Net Profit: ₹1.54 Cr
- NPM (%): 10.32%
- EPS: ₹0.54
Key Financial Highlights for 9M FY24:
- Total Income: ₹65.94 Cr
- EBITDA: ₹6.94 Cr
- EBITDA Margin: 10.53%
- Net Profit: ₹3.74 Cr
- NPM (%): 5.68%
- EPS: ₹1.3
Mr. Bhavesh P Sheth, Director of Fiberweb (India) Ltd., commented on the company's performance, stating, "We are pleased to report our Q3 FY24 results despite navigating challenging geopolitical circumstances. Despite disruptions in the Red Sea area affecting exports due to increased freight rates, we maintained profitability, albeit with some impact on our top line."
He further added, "In addition to our financial achievements, we are excited to announce our diversification into the Spunlace project (Biodegradable), which presents significant opportunities. The expansion is estimated at approximately Rs. 140 Cr. We expect to finalize orders by the end of this fiscal year, with commercial production scheduled to commence by the following fiscal year, provided all goes as planned."
Mr. Sheth concluded, "We remain optimistic about the future prospects and are dedicated to achieving our objectives with unwavering determination."
