Indian yarn manufacturer SVP Global Ventures gets listed on NSE
SVP Global Ventures Ltd, an Indian diversified cotton yarn manufacturer, has announced that the company has received approval for direct listings of its equity shares on the National Stock Exchange (NSE) effective from July 14, 2021, under the scrip id “SVPGLOB”. The company’s modern and automated manufacturing units are situated in Oman and India.
Earlier this month, SVP reported a significant revenue growth of 77.8 per cent to ₹571.1 crores in its fourth quarter (Q4) of FY21 against ₹321.3 crores in the corresponding period of prior fiscal. EBITDA for the quarter ended on March 31, 2021, surged 41 per cent to ₹93.6 crores (₹66.2 crores), whereas profit after tax increased to ₹38 crores (loss: ₹8 crores).
“Compact cotton yarn contributed 84 per cent and traditional yarn contributed 16 per cent for FY21 as compared to 75 per cent and 25 per cent for FY20, respectively,” OP Gulia, president for SVP Global Ventures Limited, said in a press release.
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