SVP Global Ventures Limited, Mumbai, has declared its consolidated audited financial results for the quarter and year ended 31 March 2021.
The revenue of the company for Q4, FY21 stood at Rs. 571.1 crore as compared to Rs. 321.3 crore in Q4, FY20 with a Y-o-Y growth of 77.8 per cent. The revenue for FY21 stood at Rs. 1,422.4 crore.
The consolidated PAT for Q4 FY21 stood at Rs. 38.3 crore with Y-o-Y growth of 561.8 per cent.
In a statement, the company said that operational efficiencies, better product mix and cost rationalisation led to a considerable increase in margins on a sustainable basis.
“We are focused on sustaining the growth momentum and constantly evaluating prospects to expand our business, thereby enhancing value for our stakeholders. As we drive forward in our journey of progress and profitability, I firmly believe our shareholders will support us in this endeavour,” commented Major General O.P. Gulia, President of the company on the results and performance for Q4.
The company, employing more than 3,500 people, is primarily engaged in the manufacturing of polyester, polyester & cotton blend, and 100 per cent cotton yarn across 3 state-of-the-art manufacturing facilities in Jhalawar, Rajasthan, Ramnad, Coimbatore and Sohar, Oman.
The Board of the company has mounted an opinion to hive off South unit of Platinum Textiles, step-down subsidiary of the company, for which the Board has constituted the Committee to foresee various avenues & methodology in the best interest of the company to conclude the hiving off subject to necessary statutory approvals.
