Filatex India has posted good Q1 FY 17 results and this combined with company’s expansion plans should benefit company to increase its margins & profits.
|Net Sales Turnover||269.94||297.31||332.32||299.23||349.37||29.43||16.76|
|PE ( Trailing 12m)||10.43|
|The future appears better as the Filatex India announced on July 07,2016 that the capacity expansion at its existing unit in Dahej, Gujarat is progressing well. The Company has successfully commenced commercial production for manufacture of 100 TDP of Polyester Fully Drawn Yarn in March 2016 and is also in the process of capacity expansion of value added products – Draw Textured Yarn (DTY).The Company is in the process of installing 40 Texturising machines. Upon completion of this expansion, the manufacturing capacity of Draw Textured Yarn (DTY) will increase by 200 TPD.
Twelve Texturising machines have been installed on which production of approx. 60 TPD has started. The remaining machines would be installed in phases and likely to be completed by 30 September 2016.
However the good results were followed by another announcement by company informing an s increase in equity capital from 32 cr to 43.5 cr due to conversion of Convertible warrants issued to promoters in 03/2016 at Rs 45 ( rs. 35 premium)