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Vardhman, India profit up 273 per cent

  

Vardhman Textiles’ yearly profit has shot up by 273 per cent. Ebitda has risen by 144 per cent. However, profit margins have taken a hit thanks to the steep price rise of cotton per candy.But this worry seems to be fading away as cotton prices have come down significantly since May 2022.

Vardhman Textiles is India’s largest vertically integrated textile manufacturer that is engaged in manufacturing cotton yarn, synthetic yarn, woven fabric, sewing thread, acrylic fiber, tow and garments.

It is also one of the largest exporters of cotton yarn to the US and the EU.In its yarn business; it has a spindle count of 1.2 million, providing it a production capacity of 670 MT a day. Its cutting-edge spinning technology sourced from global leaders makes it a preferred choice of customers worldwide, owing to the quality of products and flexibility for product customization. It is also one of the first movers in the manufacturing of recycled yarns in India.

The company’s balance sheet is quite strong with the debt-to-equity ratio at 0.2 and free cash flows have also improved. The current P/E ratio of 6.82 is far better than that of peers. The P/B ratio of the company stands at only 1.35 compared to the sector’s average of 5.95.

 
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