Fiberweb bags export order from US

Fiberweb (India) Limited informed that the company has received new export order from the US market. The order is for value-added and Melt Blown products worth Rs. 2.3 crore. Company is in business of producing Spun Bond Non-woven fabric and its various converted products.

There has been continuous emphasis on research and development and improvement by which the company is able to provide value-added products. Its Melt Blown line is in operation since January 2018.

In FY18, the company had consolidated turnover of Rs. 286.12 crore as against Rs. 130.37 crore in last fiscal and net profit of Rs. 36.31 crore as against Rs. 17.24 crore in FY17. Even the half yearly result had consolidated turnover of Rs. 126.05 crore and net profit of Rs. 15.25 crore.

The stock recently touched it’s 52-week low of Rs. 41.70 per share while it has 52-week high of Rs. 192. Stock reacted positively to this news and touched an intraday high of Rs. 49.90 on BSE. At 12:20 a.m, it traded at Rs. 48 per share, higher by 2.56 per cent than its previous close.