Vardhman Textiles: Tough times but hints of hope – 2 Feb 2023

Gross margin declined to 37% from 52% YoY and 43% QoQ because of the sharp drop in yarn prices along with inventory of high-cost cotton. Consequently, EBITDAM stood at ~7.3% in Q3FY23 vs. 24.2% YoY and 14.6% QoQ. This is the lowest quarterly EBITDAM in the past almost 10 years, barring Q1FY21 (Covid lockdown period).
Click details for more.