Home / Knowledge / News / Apparel/Garments / Gokaldas achieves higher revenue of 12% in Q1
Gokaldas achieves higher revenue of 12% in Q1
31
Jul '08
In the First Quarter of 2008-09 (Q1), Gokaldas Exports Ltd. has achieved total revenue of Rs.272 crores which is 12% higher than the Q1 of last year (2007-08). The stand alone EBIDTA achieved in this Quarter is Rs.30 crores as against last year's of Rs.25.96 crores.

An increase in EBIDTA of 16% is achieved in spite of the fact that Rs.8.30 crores of Foreign Exchange notional losses against Forex borrowing restatement have been accounted. The PAT stands at Rs.11.05 crores as against Rs.10.52 crores of last year thereby showing the increase of 5%.

This increase in PAT could have been much higher but for the impact of Forex volatility which have been accounted to the extent of Rs.18 crores (loss). Both the EBIDTA and the PAT would have been much higher if the performance would have not been impacted by the rupee volatility.

Our business fundamentals are strong which is demonstrated by the good profit growth in our business. We expect the quarters ahead to compensate for the exchange losses booked this quarter and once Foreign Exchange covers are ended and with the present dollar / rupee rate our bottom line would be much stronger. The rupee volatility has been the major cause of concern and the quarterly financials are very much influenced by the consequent provisions.

The apparel industry as a whole has gone through a challenge in the first quarter due to the thrust of recession in our major markets, rising crude prices and unfavourable economic environment across the world. The rising cotton prices and chemical dyes prices pose a big threat to India's competitiveness, in addition to the impact of inflation on wages.

If the Indian rupee maintains at the level of Rs.42 to 43 and if more orders comes in India's way this could probably give a push to the sagging Apparel Exports. Our order positions for Q2 is around Rs.275 crores and bookings are open for Q3.

Though China (a major competitor in international apparel trade) has also been affected by the high inflation, much depends upon the US and EU market sentiments. The quarter Q2 (July/August/September) would be crucial as an indicator to see whether India can get a slice of China's apparel business.

Click here to view detailed results:

Gokaldas Exports Ltd

Must ReadView All

Courtesy: H&M

Apparel/Garments | On 30th Mar 2017

H&M group's sales increase 7% in 3 months to Feb '17

The H&M group's sales including VAT amounted to SEK 54,369 million...

Textiles | On 30th Mar 2017

India Inc should work for July 1 GST roll out: Fin sec

The Goods and Services Tax (GST) will take India into a very exciting ...

Textiles | On 30th Mar 2017

Azerbaijan cotton industry created 64,000 jobs last year

Cotton industry in Azerbaijan created 64,000 jobs in 2016, and a...

Interviews View All

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search