SVP Global rises over 3%

SVP Global Ventures, which last Monday had hit a new high at Rs.540, is in the limelight today too. The stock price went up over 3% to Rs.512.80 though volumes are subdued at less than 5000 shares changing hands.

The company, giving an update on its operations, announced today morning that it has achieved a Rs.5000 crore order book.

The company’s revenue rebounded to Rs. 364 crore in Q2FY21 v/s Rs.92 crore (YoY) and net profit wad at Rs.11 crore v/s loss of Rs.57 crore.

The company said that currently has sales tie-ups and yarn offtake arrangements for the next 2-3 years of production, valued at Rs. 5000 crs., from buyers across the global textile markets.

The current capacity utilization level is now back to pre-Covid levels and stood at more than 95% for Indian operations and around 50% for Oman operations. In Oman, ramping of the capacity utilization is currently in process for the recently set up 150,000 Spindles which is expected to operate at target more than 95% in coming quarters.