The company, engaged in the manufacturing, processing & trading of yarn, fabric, readymade garments and towels, has reported a consolidated net profit of Rs 31.58 crore in the first six months ended September 30, 2012.
During the six months under review, the company witnessed a 57.44 per cent growth in its total revenue which stood at Rs 2093.83 crore from Rs 1329.89 crore in the same period a year ago. Volumes were boosted by robust demand for the value-added yarn from Europe and rupee’s depreciation against the US dollar. The company has been ranked as the 10th largest in analysis of the Europe’s top 100 Yarn & Thread Suppliers.
Despite the global volatile environment, the company has posted strong growth for the second consecutive quarter in FY’14 as it remained committed to drive the business towards delivering consistent, competitive, profitable and responsible growth.
Meanwhile, the (Standalone) revenue from operations of the company stood at Rs. 1677.03 crore in H1, FY’14, as compared to Rs. 1141.42 crore during the previous year, a growth of 46.92 per cent year-on-year. The profit after tax (Standalone) stood at Rs. 42.61 crore for the six month ended 30.09.2013, as compared to Rs. 27.97 crore during the previous year, a growth of 52.37 per cent Y-o-Y.
Given the evolving economic landscape, the company aims to continue growth momentum by successfully implementing its expansion projects. Continuing on the upward growth curve, the Group has commissioned another integrated textile park in Punjab at an investment of about Rs. 1500 crore.
This project has capacities of 188,160 spindles in ring spinning, 40 million metres per annum in denim fabric and 8 million pieces of denim garments per annum. This strategic move of diversifying into denim segment will further increase the group’s presence in the finished product segment.
Fibre2fashion News Desk - India
Textiles | On 29th May 2017
The special garment package of Rs 6,000 crore that was introduced by...
Apparel/Garments | On 29th May 2017
The Bangladesh Garment Manufacturers and Exporters Association...
Textiles | On 29th May 2017
The textile company Tintex has joined hands with the system supplier...
‘The intimatewear category in India is slowly becoming trend-sensitive.’
e-Commerce is still evolving fast with constant flux and surprises
'Natural fibres are appreciated for traditional authenticity'
Suominen Corporation is a manufacturer of nonwovens as roll goods for...
Coating at a fibre level is a practice not usually seen in the...
InvestKonsult Sweden AB
Investkonsult Sweden AB has been buying and selling second-hand textile...
"Now we can see the Russian trend in international fashion. And Russian...
Sonam and Paras Modi's Sva Couture is synonymous with head-turning...
Rupa Sood and Sharan Apparao
Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...