VISHAL FABRICS 2024-25 Annual Report Analysis

Wed, 4 Mar

VISHAL FABRICS has announced its results for the year ended March 2025. Let us have a look at the detailed performance review of the company during FY24-25.

VISHAL FABRICS Income Statement Analysis

• Operating income during the year rose 4.8% on a year-on-year (YoY) basis.
• The company's operating profit increased by 20.2% YoY during the fiscal. Operating profit margins witnessed a fall and down at 8.0% in FY25 as against 7.0% in FY24.
• Depreciation charges increased by 1.5% and finance costs increased by 3.0% YoY, respectively.
• Other income grew by 36.8% YoY.
• Net profit for the year grew by 37.3% YoY.
• Net profit margins during the year grew from 1.5% in FY24 to 1.9% in FY25.

VISHAL FABRICS Income Statement 2024-25

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*	% Change
Net Sales	Rs m	14,501	15,198	4.8%
Other income	Rs m	12	16	36.8%
Total Revenues	Rs m	14,513	15,214	4.8%
Gross profit	Rs m	1,010	1,213	20.2%
Depreciation	Rs m	327	332	1.5%
Interest	Rs m	385	397	3.0%
Profit before tax	Rs m	309	501	61.9%
Tax	Rs m	98	211	114.8%
Profit after tax	Rs m	211	290	37.3%
Gross profit margin	%	7.0	8.0
Effective tax rate	%	31.7	42.1
Net profit margin	%	1.5	1.9

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VISHAL FABRICS Balance Sheet Analysis

• The company's current liabilities during FY25 down at Rs 4 billion as compared to Rs 4 billion in FY24, thereby witnessing an decrease of -0.8%.
• Long-term debt down at Rs 845 million as compared to Rs 1 billion during FY24, a fall of 35.2%.
• Current assets rose 5% and stood at Rs 7 billion, while fixed assets fell 3% and stood at Rs 3 billion in FY25.
• Overall, the total assets and liabilities for FY25 stood at Rs 9 billion as against Rs 9 billion during FY24, thereby witnessing a growth of 3%.

VISHAL FABRICS Balance Sheet as on March 2025

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*	% Change
Networth	Rs m	4,120	4,410	7.0
Current Liabilities	Rs m	3,545	3,517	-0.8
Long-term Debt	Rs m	1,304	845	-35.2
Total Liabilities	Rs m	9,216	9,456	2.6
Current assets	Rs m	6,494	6,827	5.1
Fixed Assets	Rs m	2,723	2,629	-3.4
Total Assets	Rs m	9,216	9,456	2.6

VISHAL FABRICS Cash Flow Statement Analysis

• VISHAL FABRICS's cash flow from operating activities (CFO) during FY25 stood at Rs 1 billion on a YoY basis.
• Cash flow from investing activities (CFI) during FY25 stood at Rs -174 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY25 stood at Rs -899 million on a YoY basis.
• Overall, net cash flows for the company during FY25 stood at Rs 4 million from the Rs 14 million net cash flows seen during FY24.

VISHAL FABRICS Cash Flow Statement 2024-25

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-24	Mar-25
Cash Flow from Operating Activities	Rs m	-56	1,076	-
Cash Flow from Investing Activities	Rs m	-179	-174	-
Cash Flow from Financing Activities	Rs m	249	-899	-
Net Cash Flow	Rs m	14	4	-75.0%

Current Valuations for VISHAL FABRICS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 1.5, an improvement from the EPS of Rs 1.1 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 28.6, stands at 29.7 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 1.6 times, while the price to sales ratio stands at 0.4 times.
• The company's price to cash flow (P/CF) ratio stood at 9.7 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*
Sales per share (Unadj.)	Rs	73.4	76.9
TTM Earnings per share	Rs	1.1	1.5
Diluted earnings per share	Rs	0.9	1.2
Price to Cash Flow	x	8.5	9.7
TTM P/E ratio	x	21.6	29.7
Price / Book Value ratio	x	1.0	1.4
Market Cap	Rs m	4,049	6,015
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for VISHAL FABRICS

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.9x during FY25, from 1.8x during FY24. The current ratio measures the company's ability to pay short-term and long-term obligations.

Interest Coverage Ratio: The company's interest coverage ratio improved and stood at 2.3x during FY25, from 1.8x during FY24. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

• Profitability Ratios

Return on Equity (ROE): The ROE for the company improved and stood at 6.6% during FY25, from 5.1% during FY25. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

Return on Capital Employed (ROCE): The ROCE for the company improved and stood at 17.1% during FY25, from 12.8% during FY24. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

Return on Assets (ROA): The ROA of the company improved and stood at 7.3% during FY25, from 6.5% during FY24. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*
Current ratio	x	1.8	1.9
Debtors’ Days	Days	13	13
Interest coverage	x	1.8	2.3
Debt to equity ratio	x	0.3	0.2
Return on assets	%	6.5	7.3
Return on equity	%	5.1	6.6
Return on capital employed	%	12.8	17.1

To see how VISHAL FABRICS has performed over the last 5 years, please visit here.

VISHAL FABRICS Share Price Performance

Over the last one year, VISHAL FABRICS share price has moved up from Rs 18.4 to Rs 28.6, registering a gain of Rs 10.2 or around 55.1%.

Overall, the S&P BSE SENSEX is up 6.1% over the year.

(To know more, check out historical annual results for VISHAL FABRICS and quarterly results for VISHAL FABRICS)