During Wednesday’s trading session, the shares of one of the leading players in the manufacturing of spun bond nonwoven fabric in India hit a 10 percent upper circuit at Rs. 51.54 on BSE, after the company reported Q2 FY25 results with a rise in net profit by about 20.7 percent QoQ and 169.2 percent YoY.
With a market cap of Rs. 148.4 crores, the shares of Fiberweb (India) Limited opened in the green at Rs. 49.56, up by nearly 5.8 percent, compared to its previous closing price of Rs. 46.86.
What’s the news:
The fluctuations in the share prices were observed after Fiberweb (India) Limited announced the financial results for Q2 FY25, through the latest filings with the stock exchanges on Tuesday post-market hours.
For Q2 FY25, Fiberweb reported income from operations of Rs. 25 crores, reflecting a marginal growth of around 3 percent QoQ from Rs. 24.3 crores in Q1 FY25, as well as an increase of about 21.4 percent YoY from Rs. 20.6 crores in Q2 FY24.
The company’s net profit for Q2 FY25 grew to Rs. 3.5 crores, representing a rise of around 20.7 percent QoQ from Rs. 2.9 crores in Q1 FY25, and a year-on-year growth of nearly 169.2 percent from Rs. 1.3 crores in Q2 FY24.
Shareholding Pattern:
As per the September 2024 shareholding pattern, the Promoters hold a 46.33 percent stake in the company, while Retail Investors and Domestic Institutional Investors (DII) hold a 53.48 percent and 0.19 percent stake in Fiberweb (India) Limited, respectively.
Stock Performance:
The stock has delivered positive returns of nearly 61 percent in one year, as well as around 47.4 percent returns in the last six months. So far in 2024, the shares of Fiberweb have given positive returns of about 49 percent.
About the company:
Established in 1985, Fiberweb (India) Limited is a 100% export-oriented unit (EOU) engaged in the business of manufacturing spun-bond polypropylene nonwoven roll goods and products. These products cater to a wide range of industries globally, including hygiene, agriculture crop covers, and medical & industrial clothing.
Originally, the company focused on the manufacturing and export of injection-moulded, blow-moulded, and roto-moulded products using German machinery, along with garbage bags and carrier bags. Over time, Fiberweb expanded its offerings to include nonwoven fabrics, responding to the growing demand for these products in international markets.
Written by Shivani Singh
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