Home / Knowledge / News / Textiles / Siyaram net profit rises in Q2
Siyaram net profit rises in Q2
02
Nov '11
Siyaram Silk Mills Limited (Siyaram's), the leading producer of blended fabrics in India, has reported a net profit of Rs. 170 million during the second quarter of current financial year, showing a year-on-year rise of 16.9 percent.

Owing to higher volumes and realization, especially in the yarn dyeing segment, the company's net sales increased to Rs. 2.44 billion, a growth of 13.5 percent year-on-year and 34.9 percent on a quarter-on-quarter basis.

Lower raw material cost during the quarter helped the company to increase its earnings before interest, taxes, depreciation and amortization (EBITDA) by 68 basis points y-o-y to 13.4 percent. However, the decline in the cost of raw material was offset, to an extent, by increase in employee cost.

In 2010-11, Siyaram's yarn segment achieved capacity utilization of 57 percent, as against 41.9 percent in 2008-09. The company expects this to improve further to 80 percent by end of 2011-12.

During financial years 2011-12 and 2012-13, Siyaram's proposes to add 286 looms in a phased manner in its fabric segment to take the tally of total looms to 765. It also plans to add 400 machines in its garment segment.

Siyaram's has presence across the country through over 40,000 points of sale and has a strong brand presence with brands like Siyaram, Mistair, and J Hampstead.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 26th May 2017

Lenzing unleashes new eco-friendly fibre

There's a new eco-friendly fibre on the anvil—Austrian speciality...

Apparel/Garments | On 26th May 2017

PVH Corp Q1 2017 revenue rises 4%

The first quarter revenue of fiscal 2017 at apparel marketer PVH Corp ...

Courtesy: Levi Strauss & Co

Apparel/Garments | On 26th May 2017

LS&Co. to fund water saving solutions

LS&Co. will fund to the tune of more than $350,000 the solutions...

Interviews View All

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Wendell Rodricks
Wendell Rodricks

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

Igor Chapurin
Chapurin

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

Robert Brunner
Devereux

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


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search