Home / Knowledge / News / Apparel/Garments / Aarvee Denims registers 890% rise in net profit
Aarvee Denims registers 890% rise in net profit
Jun '10
A recovered export market and rising local orders has led to an enormous 890 percent increase in the overall profit of Ahmedabad-based, Aarvee Denims & Exports Limited (ADEL), for the fiscal ended 2009-10.

The audited financial results for the quarter that ended on March 31 was declared during the company's board meeting held last month.

Other than registering a huge increase in its overall profits from Rs 23.2 million in fiscal 2008-09 to Rs 229.7 million in 2009-10, the operating and sales earning for the year was also high and stood at Rs 3.78 billion, a hike of 16 percent from Rs 3.25 billion that was registered in 2008-09.

For the fiscal 2009-10, the firm has announced a final dividend at 5 percent on paid up equity shares. More so, the average dividend for the entire year comes to 10 percent, including, dividend of 5 percent that, was announced and paid during the year.

With the approval received from RBI, during the year, ADEL fetched back zero coupon foreign currency convertible bonds (FCCBs) at a discounted face value of US $7.50 million, out of the total FCCB of $20 million.

After fetching back FCCB and with the early release of preference shares, ADEL managed to reduce its long-pending debt by almost 35 percent.

Aarvee is the second largest denim fabric producers of the country with an in-built capacity of almost 60 million metres.

The company also produces and markets apparels under the brand name, De Extrase, through its 75 exclusive retail outlets pan-India.

Fibre2Fashion News Desk - India

Must ReadView All

Union textiles minister Smriti Irani addressing at the Texprocil Annual Export Awards. Courtesy: PIB

Textiles | On 22nd Oct 2016

Govt to extend special package to home textiles segment

The Central government is likely to extend the recently approved Rs...

Reebok Liquid Speed Grey. Courtesy: Business Wire

Apparel/Garments | On 22nd Oct 2016

Reebok’s Liquid Factory brings sneaker creation to US

Reebok, a pioneer in the sporting goods industry, has brought sneaker ...

Courtesy: GHCL

Textiles | On 22nd Oct 2016

GHCL to invest Rs 67.25 crore in textile division

Chemicals and textiles firm GHCL will invest Rs 67.25 crore in its...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Evelyne Cholet

‘France had a reputation of being big in new ideas, but poor in marketing...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search