The share of textile stock excelling in dyeing, printing, and processing denim and a variety of fabrics jumped upto 13 percent, followed by the strategic acquisition of Nandan Industries Private Limited.
Price Movement
With a market capitalization of Rs 529 crores, the shares of Vishal Fabrics Ltd rose by 5.3 percent, reaching a high of 28.13 compared to a previous closing price of 25.86.
What Happened
Vishal Fabrics Ltd. has acquired 528,100 equity shares of Nandan Industries Private Limited from its existing shareholders at a price of Rs. 123 per share, as per the valuation report, totaling Rs. 6.50 Crores.
As of March 29, 2024 Vishal Fabrics Limited holds 23.17 percent of the equity share capital in Nandan Industries Private Limited, which became an “Associate Company” of Vishal Fabrics Limited. After the acquisition, Vishal Fabrics Ltd’s stake in Nandan Industries has increased to 35.41 percent.
About the company
Vishal Fabrics Limited (VFL) is a leading player in the denim industry, revolutionizing fashion with a focus on equality and changing market trends. The company excels in dyeing, printing, and processing denim and a variety of fabrics. Its offerings include cotton, cotton spandex, cotton-poly blends, cotton modal, cotton tencel, and high-quality stretch denim fabrics popular across all age groups.
Financials
The company reported a revenue of Rs 403.68 crores in Q3 FY25, up by 0.58 percent from its Q3 FY24 revenue of Rs 401.34 crores. It posted a net profit of Rs 7.68 crore in Q3 FY25, down by 2.17 percent, from its Q3 FY24 net profit of Rs 7.85 crores.
Written By Sanjay G
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