India-based denim manufacturing and fabric processing unit Vishal Fabrics Limited (VFL), a unit of Chiripal Group, has reported a 41 per cent growth in net income to ₹20 crore in the fourth quarter (Q4) this fiscal as opposed to ₹14 crore in Q4 FY21.
Vishal Fabrics posted a growth of 60 per cent at ₹1,547 crore for the financial year 2022 in comparison to ₹968 crore for the last fiscal. It recorded a revenue of ₹426 crore during Q4 FY22, as against ₹388 crore in Q4 FY21, a growth of 10 per cent, the company said in a media release.
The company also recently announced the appointment of Vinay Thadani as the new CEO of Vishal Fabrics. Commenting on the performance, Vinay Thadani, chief executive officer, said, “We believe that we have built a strong foundation for the future with sustainable and profitable growth for the long term. At Vishal Fabrics, we believe in stable and supreme performance with our focus will be on maximising the revenue growth going ahead. Large interest is to build the profitability by maintaining cost control measures and focus on improving return ratios and maintaining healthy balance sheet position by following our asset-light model.”
