The Q1 FY’23 sales of one of India’s largest manufacturers and exporters of value added synthetic, mélange, blended spun yarns and denim fabric, RSWM surged by 38 per cent to Rs1,024 crore, up 38 per cent from Rs742 crore in Q1 FY22.
The company’s EBITDA increased from Rs. 90 crore in Q1 FY22 to Rs141 crore in Q1 FY23.Domestic demand of the company witnessed a strong growth, increasing 62 per cent Y-o-Y. Export sales were in-line with Q1 FY22 at Rs286 crore and exports-maintained momentum despite of recession concern. RSWM’s cost optimization program helped in maintaining the profit margin.
Strong realisation led to 81 per cent PAT growth to Rs67 crorefrom Rs37 crore in Q1 FY22. Higher raw material prices are getting absorbed by end users; but it still continues to remain a concern for the industry.
Additionally, a 30,000 spindles yarn capacity unit at Gulabpura and denim fabric and knitting units at Banswara undertaken last year, started commercial production from July 1, 2022.
