BSE and NSE listed Vishal Fabrics Limited (VFL), one of India's leading manufacturers of denim fabrics, part of leading conglomerate Chiripal Group has bagged major export orders worth Rs 110 crores to be executed in the current fiscal year FY21.
The Company's export business now banquets over various geographies in Latin America, Egypt, Thailand, Vietnam, and Bangladesh. Such export orders play a vital role in the Company's growth prospects. Export orders are margin lucrative in comparison to domestic orders. Post-COVID related lockdowns; the Company has ramped up its capacity utilization.
Aforesaid export orders are processed at its state-of-the-art ultra-modern manufacturing facility located in Dholi, Ahmedabad. Further, the Company believes that existing working capital limits are sufficient to fulfil these export orders. The company has a strong order book and will continue to serve domestic & global customers diligently.
Vishal, a premier supplier of top-quality stretch denim fabric has state-of-the-art manufacturing facility near Ahmedabad, with an installed capacity of 80 MMPA and a processing unit of 105 MMPA and supplies denim fabrics to large garment makers in the domestic market and leading global brands like H&M, Emporia Arm, ZARA, Killer and many others.
"The pandemic outbreak and the consequent lockdown have led to unprecedented disruption across industries. However, we made the best use of our resources to and focused on factors in our control. We are delighted to receive substantial export orders, and it is a testimony to our successful track record and determination. Such export orders play a vital role in the Company's growth prospects. Amidst the ongoing crisis and the challenging business environment globally, we are committed to fulfil such orders comfortably. We are proud of our team, which has worked diligently and remain united as a family during these challenging times," stated Brijmohan Chiripal, Managing Director, Vishal Fabrics Limited, while commenting on the performance.
Further, Company through its public trusts is indulged in promoting the Robotex in India which is covered under CSR activity for the company. Various workshops had been conducted in last 2 years to develop the same and Robotex India has represented our country in Robotex Asia event in August 2019 and secured second position among all Asian countries.
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( With inputs from ANI )
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