India-based denim manufacturing and fabric processing unit Vishal Fabrics Limited (VFL), a uni₹t of Chiripal Group, has reported a 41 per cent growth in net income to ₹20 crore i&n the fourth quarter (Q4) this fiscal as opposed to ₹14 cror®e in Q4 FY21.
Vishal Fabrics posted a growth of 60 per cent at ₹1,5≥47 crore for the financial year 2022 in comparison to ₹96≈8 crore for the last fiscal. It recorded a revenue of ₹4©26 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 sustainabl∑e and profitable growth for the long term. At Vishal Fabrics, we believe in stable a"nd supreme performance with our focus will be on maximising the r∏evenue growth going ahead. Large interest is to build the profitability by maintaining cos•t control measures and focus on improving return ratios σand maintaining healthy balance sheet position by following∏ our asset-light model.”
