Shiva Texyarn's stock tanked 5% despite stellar Q3 FY22 numbers

Shiva Texyarn Ltd. reported total revenue of Rs150.13cr in December 2021, up by 55.20% yoy, against Rs96.74cr in December 2020. Revenue for the 9M period ended December 2021 stood at Rs350.14cr as against Rs231.39cr for the corresponding 9M period, up by 51.32% yoy.

Company’s quarterly Net Profit (PAT) stood at Rs6.01cr in December 2021, as compared to Rs5.53cr in December 2020, recording a growth of 8.80% yoy.

PAT for the 9M period ended December 2021 stood at Rs19.08cr as compared to Rs8.58cr for 9M Q3 FY’21, reporting growth of 122.51% yoy.

EBITDA stands at Rs16.47cr in December 2021 against Rs11.94cr in the previous corresponding quarter, up by 37.88% yoy.

Its EBITDA for the 9M period ended December 2021 stood at Rs47.92cr as against Rs31.82cr for the 9M ended December 2020, gaining 50.61% yoy.

EBITDA margin for the quarter stood at 10.97% against 12.35% for the previous corresponding quarter. Net Profit margin reported at 4.03% against earlier 5.86%.

The company’s PBT for the quarter ended December 2021 stood at Rs9.42cr as against Rs6.95cr for the corresponding quarter, gaining 35.50% yoy.

PBT for the 9M ended December 2021 stood at Rs27.86cr as against Rs10.80cr for the corresponding 9M period, up by 157% yoy.

In its investor release, company stated that its non-spinning business contributed 28.8% to revenues, and revenue growth is mainly driven by post-COVID recovery in markets.

Shiva Texyarn ended at Rs240 today, down by Rs13.85 or 5.46% against its previous closing price of Rs253.85. It touched day’s high and low of Rs258 and Rs237 respectively.