Filatex India Q3 - Realisations, Margins To Improve Gradually With Easing Of Restriction In China: KRChoksey

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .KRChoksey Research Report.Filatex India Ltd. reported revenue of 10,704 million, declined by -0.4% YoY/-8.0% QoQ in Q3 FY23. The revenue growth was impacted due to pricing pressure on the final products. However, sales volume has increased by 11% YoY from 90398 milliontonne in Q3 FY22 to 101,488 million tonne in Q3 FY23, whereas sales volume was almost flat on a QoQ basis. In Q3 FY23, total production was 99,969 million tonne as against 97,169 million tonne in Q2 FY23 and 86336 million tonne in Q3 FY22. Performance during the quarter has been impacted due to China’s prolonged Zero-Covid policy. On account of low demand in China, polyester filament manufacturers in the country have dumped low priced goods into global markets, including India, which has resulted in an increase in imports and a decrease in exports for Indian polyester filament manufacturers. Despite this challenging situation, Filatex India has achieved 100% capacity utilisation for its plants. However, the headwind related to the dumping of goods by Chinese polyester filament manufacturers has affected realisation and margin during the quarter. Management anticipates sustainable increases in realisation and margin beginning in Q1 FY24..Click on the attachment to read the full report:.Gokaldas Exports Q3 Results Review - Resilient Performance Amid A Challenging Environment: Systematix.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Filatex India Q3 - Realisations, Margins To Improve Gradually With Easing Of Restriction In China: KRChoksey

Performance during the quarter has been impacted due to China’s prolonged Zero-Covid policy.

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