Mandhana Industries' sales leaps up 18.71%
India's leading manufacturer of textiles and apparels, Mandhana Industries Ltd, reported its quarterly profit & revenue numbers with a 18.71% rise in revenue and 5,71% increase in the net profit for the quarter ended 30th September, 2011.
While the company saw its net profit touching Rs. 17.58 crores for 2nd Quarter, its net sales increased to Rs. 219.49 crores in the reporting quarter. The net profit and sales for the half year ended on 30th September, 2011 stood at Rs. 33.08 crores and Rs.424.53 crores respectively to register increase by 12.56 % and 29.13 % respectively.
Mr. Manish Mandhana, Joint Managing 'Director, Mandhana Industries Limited commenting on the performance said, "We are contented with the growth momentum maintained during the quarter even amidst a difficult economic environment both on the domestic and global front. We continue to thrive on our designing skills, wide product basket and strong foothold in the inland & overseas markets. The expanded garment capacities at Tarapur and Baramati, Maharashtra shall add to our manufacturing strength in the last quarter of the financial year and the retail operations of 'Being Human' apparel brand shall also instigate during the same period. We are confident of carrying forward this successful financial performance over the next two quarters as well and achieve the targeted financial parameters for the fiscal year with ease. "
Observing the overall business atmosphere, Mr. Mitesh Shah - Vice President, Finance & Corporate Affairs, Mandhana Industries Limited feels "There is a lot of cautiousness and uncertainty prevailing in the industry especially in the wake of meltdown of global giant economies, rising inflationary trends & consequent northbound interest rates and Widening trade & fiscal deficits. For the Company, The recent sharp depreciation of rupee against major global currencies will act as an impetus to Our growing exports and help increase our realizations substantially thereby Improve our operating margins. Our main aim shall be to convert these better operating margins into higher net margins by rationalizing the rising interest costs, which right now is a common concerning feature for the entire Indian corporate domain."
Mandhana Industries Limited is a Mumbai based multi divisional Textile Company spread over multiple geographical locations. They are engaged in the manufacturing of textiles and garments with a state of art infrastructure. Mandhana's business includes designing, yarn¬-designing, yarn dyeing, weaving, processing, dyeing and garment manufacturing. They have planned their infrastructural developments in order to help them integrate vertically & establish themselves as a niche player in the Indian Textile Industry.
Mandhana Industries Limited is also entering into retail segment with the Brand 'Being Human'. The Company has entered into an exclusive global license agreement with "Being Human - The Salman Khan Foundation" for designing, marketing and distributing Being Human Clothing line.
Mandhana has long standing relations with overseas & domestic customers. They have a strong global presence supplying to a niche clientele spread across in the European countries mainly Italy, France, Germany, Turkey, Switzerland, Netherlands, UK, Spain, Australia and Israel.
Mandhana Industries Limited