Dr MP Agarwal led - Shri Lakshmi Cotsyn is a vertically integrated textile player and is engaged in producing a wide range of end-to-end textile products and safety textiles for defense and paramilitary forces.
Sales surged from Rs 5.13 billion in quarter ending June 30, 2011 to Rs 6.96 billion in the reporting quarter, while net profits too heaved from Rs 285 million to Rs 403 million in the same periods.
For fiscal year ended June 30, 2012, Shri Lakshmi reported consolidated net sales of Rs. 23.96 billion, up 33.3 percent from a year earlier and net profits too climbed 19.4 percent to Rs 1.24 billion. Shri Lakshmi declares full year results in month ending June 30.
While modestly acknowledging the performance, Dr MP Agarwal – Chairman told fibre2fashion, “We attribute this performance to strong export orders and also to growth in the domestic markets. But the volatile market conditions have definitely playing havoc with our operations”.
When quizzed on being able to extend the performance into the new fiscal year, he optimistically said, “We would like to maintain the same momentum. But looking at the current market conditions like, ever increasing yarn prices and uncertain markets, the momentum looks uncertain. Yet we are confident that market conditions would improve in the new fiscal year”.
Shri Lakshmi has recently expanded denim fabric capacity from 20 MMPA to 40 MMPA, sheeting fabrics from 12 MMPA to 30 MMPA and the terry towel capacity from 3000 TPA to 15000 TPA.
In its technical textile division, it has added new product lines and also expanded capacity of NBC fabrics, Flex fabrics, Black out fabrics, GEO fabrics, High Altitude fabrics and MSCN fabrics.
“However, with respect to the terry towels division, we are once again planning to expand existing capacity from 15000 TPA to 33000 TPA by December 2013”, Dr Agarwal wound up by saying.
Fibre2fashion News Desk - India
Textiles | On 22nd Oct 2016
The Central government is likely to extend the recently approved Rs...
Apparel/Garments | On 22nd Oct 2016
Reebok, a pioneer in the sporting goods industry, has brought sneaker ...
‘Online economy has changed the whole dynamics of buying habits.’
‘Buying crowdsourced or creative designs are much more appealing to the...
‘Blending cultures is the true beauty of fashion, where one’s imagination...
Coating at a fibre level is a practice not usually seen in the...
Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...
Larry L Kinn
Larry L Kinn, Senior Vice President - Operations Americas of Suominen...
Yash P. Kotak
Bombay Hemp Company
One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...
Gildan Activewear SRL
Gildan Activewear, a manufacturer and marketer of branded clothing and...
Occasions Elegance Wear
It is believed that by early 19th century, Varanasi weavers had moved away ...
Textiles | On 21st Oct 2016