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Nandan Exim posts healthy net profit
01 Feb '10
2 min read
The Board of Directors of Nandan Exim Ltd (NEL), a part of Chiripal Group, at their board meeting held on 25th January 2010 approved the un-audited financial result for December 2009 quarter.
The company achieved sales turnover of Rs. 102.23 Cr for the quarter ended December 09 (Rs. 71.21 Cr same period previous year) and posted a healthy net profit of Rs. 4.17 Cr (loss of Rs 1.7 Cr in the corresponding period of 2008).
The improvement in the performance is due to the Indian textile sector showing signs of sustained recovery despite dominant markets for denim garments - US and Europe still groping with recession. Further, as India is emerging as a prominent consumer of denim, the demand for Denim is increasing and NEL is also in the process of increasing its denim capacity by 33% to 40 Mn meters per annum.
With completion of the expansion by March 2010, the company has chalked out a well planned strategy to expand the product basket innovatively and produce value-added Denim to cater to domestic demand and capture new overseas markets.
The ultra-modern plant of Nandan Exim Limited, located at Ahmedabad, Gujarat; employs the latest technology and has the infrastructure and initial installed capacity to produce 7 million meters of 100% cotton & blended gray cotton fabric. The denim project is equipped with an initial production capacity of 10 million meters of denim per year. The products manufactured by Nandan Exim Limited are primarily intended for sufficing the needs of the leading customers of the country and exports to the developed markets of the West and South East Asia, Europe & America.
The company achieved sales turnover of Rs. 102.23 Cr for the quarter ended December 09 (Rs. 71.21 Cr same period previous year) and posted a healthy net profit of Rs. 4.17 Cr (loss of Rs 1.7 Cr in the corresponding period of 2008).
The improvement in the performance is due to the Indian textile sector showing signs of sustained recovery despite dominant markets for denim garments - US and Europe still groping with recession. Further, as India is emerging as a prominent consumer of denim, the demand for Denim is increasing and NEL is also in the process of increasing its denim capacity by 33% to 40 Mn meters per annum.
With completion of the expansion by March 2010, the company has chalked out a well planned strategy to expand the product basket innovatively and produce value-added Denim to cater to domestic demand and capture new overseas markets.
The ultra-modern plant of Nandan Exim Limited, located at Ahmedabad, Gujarat; employs the latest technology and has the infrastructure and initial installed capacity to produce 7 million meters of 100% cotton & blended gray cotton fabric. The denim project is equipped with an initial production capacity of 10 million meters of denim per year. The products manufactured by Nandan Exim Limited are primarily intended for sufficing the needs of the leading customers of the country and exports to the developed markets of the West and South East Asia, Europe & America.
Nandan Exim Ltd
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