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Nandan Denim reports revenue growth of 28.6% in Q1FY15
21
Aug '14
For the first fiscal quarter ended June 30, 2014, Nandan Denim Ltd, one of the top five denim fabric producers in India, reported revenues of Rs 263.69 crore, up 28.6 percent from Rs 205.12 crore in the first fiscal quarter ended June 30, 2013.

In the first fiscal quarter of 2014-15, EBIDTA rose by 20.3 percent to Rs 41.13 crore against Rs 34.19 crore in the first fiscal quarter of 2013-14, Nandan Denim said.

Profit after tax went up by 20.7 percent to Rs 11.47 crore in the first fiscal quarter of 2014-15 from Rs 9.51 in same fiscal quarter of 2013-14.

During the quarter ended June 30, 2014, Nandan Denim posted EBIDTA margin of 15.6 percent, and profit after tax margin of 4.35 percent.

Denim fabric exports sales rose three-fold in the first fiscal quarter of 2014-15 to Rs 45 crore from Rs 15 crore in the corresponding quarter of 2013-14.

Commercial production at the new shirting fabric unit with a capacity of 10 million meters per annum (MMPA), which started in January 2014, posted sales of Rs 35 crore in the quarter under review.

Nandan Denim is currently in the process of adding new denim fabric production capacity at an estimated cost of Rs 612 crore by installing new spinning capacity by way of backward integration and also adding new denim fabric weaving capacity.

As of June 30, 2014, the company has spent Rs 206.91 crore on the denim fabric expansion project.

Commenting on the results, Deepak Chiripal, CEO at Nandan Denim Ltd said, “Both, revenue and net profit growth has come particularly from the rise in scale of operations in the denim and shirting fabric segments and improvements in denim fabric sales realisations”.

He added, “We continue to focus on strengthening and increasing Nandan Denim’s share in the domestic as well as export markets”.

Fibre2fashion News Desk - India

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