Home / Knowledge / News / Textiles / Suryalakshmi Mills sales surge 15 % in Q3FY'13
Suryalakshmi Mills sales surge 15 % in Q3FY'13
04
Feb '13
One of the leading denim manufacturers in India, Suryalakshmi Cotton Mills Ltd, reported its quarterly profit & revenue numbers with a 15.12% rise in revenue and a massive 7.57% jump in the net profit for the quarter ended December 31, 2012.

While the company saw its net profit touching Rs. 7.03 cr for the third Quarter, which shows a 7.57% rise over the corresponding period last year, its sales increased by nearly 15.12% to Rs. 173.79 cr in the reporting quarter.

The Managing Director, Mr. Paritosh Agarwal, Suryalakshmi Cotton Mills Ltd. commenting on the performance said, “We are extremely pleased with our performance. The profit for this quarter has been marginal due to the steep increase in power tariff apart from overhead expenses incurred in the commencement of our 25-MW captive power plant at our denim division at Ramtek near Nagpur. We expect the next quarter to pool in profits at a larger length with the power plant's surplus power being sold out.

"We are also happy to share with you the company’s plans for setting up a 50,000 spindles spinning unit in Maharashtra to benefit from the additional TUF subsidy and capital subsidy being offered by Government of Maharashtra and also to utilize the surplus power from captive power plant recently commissioned by the Company."

The Board also decided in principle to effect the merger of its subsidiary Suryakiran International Limited with the Company with 1st April, 2013 as appointed date and has constituted a committee of Directors to work out the details.

About Suryalakshmi Cotton Mills Limited

Suryalakshmi Cotton Mills started in the year 1962 by Mr. L.N.Agarwal, with 6,000 spindles to manufacture world class cotton and blended yarns, with a vision and commitment to establish the company as a leading enterprise in the textile industry.

The company has, as a result, grown multifold in just four decades and also established the state of the art denim manufacturing plant having a capacity of 40 million meters per annum. Today Suryalakshmi's yarn and rope dyed denim are acknowledged as high quality products across international markets.

Its ongoing programme of modernization and higher production Capacity has resulted in its denim production multiplying from 10 million meters to 40 million meters per annum, while yarn production capacity has also increased multifold.

Suryalakshmi Cotton Mills


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Poojaa Kumar Deepak
Zeven

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

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Mark Paterson
Technical Absorbents Ltd

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

Kerem Durdag
Biovation II LLC

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Pranav Mishra
Huemn

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

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

October 2017

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
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

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
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

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
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

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
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


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