Filatex India Q1 Review – Decent Performance In Tough Operating Scenario: ICICI Direct

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Filatex India Ltd. managed to operate at above 80% utilisation levels and reported reasonable revenue and profitability in a tough operating scenario.

Revenue de-grew 18% QoQ (3.8 times growth YoY) to Rs 698.9 crore.

Gross spreads, which were significantly higher in Q4 FY21, fell 22% QoQ to Rs 29.3/kilogram with gross margins down ~560 basis points QoQ (up 1380 bps YoY) to 28.4%.

Subsequently, Ebitda margins were down 760 bps QoQ to 14.5% (Q1 FY21 down 4.3%), with absolute Ebitda down 46% YoY to Rs 101.1 crore (Ebitda/kg: Rs 14.9 versus Rs 24.3 in Q4 FY21).

Filatex India’s ensuing profit after tax came in at Rs 52.1 crore versus Rs 118 crore in Q4 FY21.

Click on the attachment to read the full report:

ICICI Direct Filatex Q1FY22 Result Update.pdf


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