Vinay Thadani from Vishal Fabrics being felicitated for Most Iconic brand in Denim Manufacturing
Vinay Thadani from Vishal Fabrics being felicitated for Most Iconic brand in Denim Manufacturing
The mid-day Icon for Most Iconic brand in Denim Manufacturing. What are your feelings on receiving this honor and who would you like to dedicate it to?
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We are truly honoured to have received the mid-day Icon for the Most Iconic brand in Denim Manufacturing. One of our biggest goals has always been to revolutionize the story revolving around denim and this recognition is a very proud moment for us. I would like to dedicate it to every single employee at Vishal Fabrics. It is through the hard work and dedication of everyone on the team that we have been accoladed by this honour.
Do you think this icon will add to the brand's popularity in any way? How do you plan to promote it?
Mid-day is a very well reputed brand with a standing of over 40 years. Being accoladed with this icon is a huge honour for us and I definitely think it will help our reputation and popularity. Mid-day continues to be a very trusted brand with a wide audience and receiving this icon will help us gain the trust of their audience as well.
What have been the challenges/struggles that you had to deal with in your venture?
One of the most difficult things that we had to deal with was the pandemic. Since we export to global markets, this time was especially difficult for us. This also gave rise to a shift in consumer preference and digitization integrated all sectors of business. We had to quickly adapt to the new changes while supporting our employees and maintaining client relationships.
To what would you attribute the success of your venture that won you this icon?
Hard work, resilience, and a growth mindset have all played a major role in the success of this company. Our dream of making denim a daily necessity as opposed to a luxury worked as a strong motivator for us to keep growing. Fashion has changed over the years and rapid digitization is taking over all industries. But through all the challenges, we have continued to be resilient and hold onto our dream of revolutionizing the fashion industry while continuing to be customer-centric. And all of this has been possible because of the strong support of our team and the wise guidance of our leadership.
What are the future growth plans for your venture?
We are known for dyeing, printing, and processing denim as well as other fabrics. Moving forward, we plan to focus on tie-ups with leading global retail brands for direct sales while expanding our footprint geographically and targeting new markets to diversify our customer base. We also will continue to invest in optimizing capital utilization levels.
What are the accomplishments/achievements of your company since it began?
Vishal Fabrics Limited was incorporated in the year 1985 under the Company’s Act, 1956. We are a company with a vision to create a mark in this world with a denim revolution. Since our inception, we have invested in upgrading our technology to meet our end-to-end processes and deliver operational excellence.
By 2018, we had commercialized the operations of eight denim lines. We recently also added another denim line whose operation began in March 2022 with a total capacity of 10 million meters per annum.
Today, Vishal Fabrics Ltd is one of the largest process houses in India with a capacity of 105 MMPA. In FY 2021-22, we have crossed our highest ever revenue, EBITDA, and PAT. Our company revenue stood at Rs. 1547 crores and our EBITDA was Rs. 161 crores and our PAT was Rs. 69 crores. Despite the economic challenges posed due to COVID, our debt to equity ratio remained favorable at 1.13x. We are also working on targeting new geographies in the export market to extend our services into the international market.
What has been the success mantra that has led you towards success?
My success mantra has been to continue being resilient in the pursuit of personal growth and success. The definition of success is different for everyone and for me, it is being better every day, as a company and as an individual.
Have you achieved your mission or is there more to achieve?
We are today one of the largest process houses in India and provide excellent quality denim. However, I do believe that there is much to achieve for us in this industry. We are keen on tapping new geographies and exploring new markets while continuing to ensure customer satisfaction.
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