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

Courtesy: Sympatex Technologies

Textiles | On 23rd Feb 2018

Sympatex, Ricosta jointly move towards sustainability

Sympatex Technologies is moving towards sustainability with its...

Courtesy: Business wire

Information Technology | On 23rd Feb 2018

CLO Virtual Fashion launches CLO 4.0 & new website

CLO Virtual Fashion, a leading developer of cutting-edge 3D garment...

HKL Magu welcomes Amitabh Kant, CEO, NITI Aayog; Courtesy: AEPC

Apparel/Garments | On 23rd Feb 2018

AEPC completes 40 years of operation

The Apparel Export Promotion Council (AEPC) has successfully...

Interviews View All

Sonia Agarwal
Whitenife

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

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Kerem Durdag
Biovation II LLC

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Johan Berlin
InvestKonsult Sweden AB

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Ritu Kumar
Label Ritu Kumar

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

Jay Ramrakhiani
Occasions Elegance Wear

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

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

February 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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