The shares of this leading polyester yarn manufacturer increased by 15% following the export order of $35 million from Africa.
At 12:50 p.m., On Monday, Filatex Fashions Ltd shares were trading at ₹7.20, up 9.26 percent from the previous close on the National Stock Exchange. The company has a market capitalization of ₹ 1,200 crores.
What Happened: According to an exchange filing by Filatex Fashion Limited, the company has secured its first export order through its mining subsidiary, Filatex Mines and Minerals Private Limited.
The export order, valued at $35 million, from Bloomflora Ventures Limited, which specializes in hospital development. The order involves supplying 2,97,388 metric tons of white marble over a period of seven years for Bloomflora’s upcoming 54 hospitals in Africa.
Filatex Fashions Ltd shares have declined by 63% in the last six months and shares have declined by 47% in last 12 months.
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About the company:
Filatex Fashions Ltd., one of India’s oldest sock manufacturers, produces high-quality socks using advanced technologies and infrastructure from Italy, Korea, and China.
Specializing in cotton, woolen, and silk socks, Filatex Fashions meets international standards and has dominated the European market for over a decade, serving prestigious global brands like FILA, Sergio Tacchini, Adidas, Marks & Spencer, and Walt Disney.
The company’s revenue grew by 4.2% year-over-year, increasing from ₹164 crore in FY22-23 to ₹171 crore in FY23-24. However, net profit declined by 25% during the same period, from ₹12 crore to ₹9 crore.
Written by Omkar Chitnis
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