Filatex India - All-Time High Spreads Aid Strong Q4 Margin Performance: ICICI Direct
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ICICI Direct Report
The manmade yarn market has been characterised by strong demand and supply constraint within the industry, which has been beneficial for Filatex India Ltd.
After a strong performance in Q3, the company reported yet another robust quarter, driven by sustained enhancement in yarn spreads.
Revenue for the quarter grew 18% QoQ (28% YoY) to Rs 852.8 crore, mainly driven by blended realisations increasing 32% QoQ (36.4% YoY).
Gross spreads (including inventory gain) increased substantially by 49% QoQ (111% YoY) to Rs 37.3/kg, with gross margins expanding approximately 400 basis points QoQ (1200 bps YoY) to 30.0%.
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