Home / Knowledge / News / Textiles / Q1FY16 net climbs steeply by 35% at Nandan Denim
Q1FY16 net climbs steeply by 35% at Nandan Denim
06
Aug '15
Net profit at India's second largest integrated denim fabric manufacturer Nandan Denim Limited climbed steeply by 35 per cent year over year for the first fiscal quarter ended June 30, 2015.

Nandan Denim reported a net profit of Rs. 15.50 crore for the first quarter of fiscal 2016, up a massive 35 per cent as against Rs 11.47 crore in the corresponding period of fiscal 2015.

Net sales for the reporting period at Rs 280.50 crore were higher by 6 per cent over Rs 263.68 crore in the prior fiscal first quarter.

The denim maker reported EBITDA of Rs 46.23 crore during the first quarter of current fiscal, a rise of 12 per cent compared to Rs 41.13 crore in the same quarter of the earlier fiscal.

During the quarter under review, the Company was able to garner 14 per cent of revenues from export markets, which came from shipments to 28 countries.

CEO Deepak Chiripal said, “The Company is following its well defined charter of growth and we are pleased with the performance so far.”

“A disciplined approach in line with the long term strategy would enable us to further cement our position in the industry,” he added.

“We are investing towards creation of machine and manpower competence to build a brand that would be synonymous with the consistent quality and timeliness of delivery,” Chiripal informed.

Nandan Denim also informed that the total expenditure on the proposed capacity expansion of Rs 612 crore is progressing as per plan.

“Major Capex orders have already been finalised and civil activities are in full swing, albeit slow due to the monsoon, but we expect to commission complete facilities in the first quarter of 2017,” it observed.

Nandan Denim Limited is currently engaged in manufacturing and marketing of denim fabrics, cotton fabrics and khakis and is part of the Chiripal Group.

Nandan Denim has expanded its capacity from 6 MMPA to the intended capacity of 110 MMPA over the period of last 10 years.

Post expansion, Nandan Denim will become the largest denim manufacturer in the country and the fourth largest in the world and has a state-of-the-art manufacturing facility unit near Ahmedabad.

For the year ended March 31, 2015, Nandan Denim posted net profit of Rs 51.4 crore on net sales of Rs 1,096.5 crore.

In the last five years, the denim manufacturer has managed strong growth with CAGR of 21 per cent in sales and 31 per cent in net profit. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Pexels

Fashion | On 23rd Jun 2018

Nigerian bank launches N1 bn fund for fashion entrepreneur

Nigeria’s Bank of Industry has set aside 1 billion Naira (N) to...

Courtesy: Tayal

Textiles | On 23rd Jun 2018

Tayal textile factory in Algeria starts exports to Turkey

Algeria’s largest textile factory, the joint Algerian-Turkish company ...

Courtesy: Manhattan Beachwear

Fashion | On 23rd Jun 2018

Manhattan Beachwear in global partnership with BCBG Group

Manhattan Beachwear, the largest swimwear manufacturer in the US, has ...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kerem Durdag
Biovation II LLC

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search