Home / Knowledge / News / Textiles / Saif Textile Mills achieves 19.77% growth in the turnover
Saif Textile Mills achieves 19.77% growth in the turnover
07
May '08
It is my pleasure to present, on behalf of the Board of Directors, this report of your Company's performance for the nine months ended 31 March 2008.

Your Company has achieved 19.77% growth in the turnover against the corresponding period of the previous year.

Our Export sales have increased by 40.17% as compared, to corresponding period of the previous year:
• Gross profit margin has increased from 8.76% to 10.31% despite severe external pressures arising from the depressed market conditions, increase in energy cost with the shortage of electricity & gas and increased cost of raw material during the cotton season with the poor quality of cotton produced.
• Operating profit is Rs. 205.21 million as compared to Rs. 131.94 million for the corresponding period of last year.
• Profit before tax is Rs. 2.45 million as compared to a loss of Rs. 68.97 million for the corresponding period of last year.

Your company is not shielded from the difficulties that are affecting the profitability of the entire textile sector. The most crippling factor is the simultaneous shortage of electricity and natural gas, thereby undermining our ability to effectively utilize the installed captive power plant.

In addition, the following market conditions are also prevailing:
• Increase in the cost of inputs caused by the elevated price of petroleum products and natural gas.
• Major increase in cotton prices.
• Poor quality of cotton during the cotton season.
• Sudden increase in electricity tariffs of about 33%.
• Rising interest rates and financial charges.
• Domestic and regional political uncertainty.

The management is consistently focusing its efforts to increase exports in order to increase your company's efficiency and profit margins despite the challenges before us.


Must ReadView All

Courtesy: Fancycrave.com from Pexels

Apparel/Garments | On 22nd Jun 2018

EU's retaliatory duty on US apparel takes effect

As part of the three-pronged response outlined by the European...

NCC applauds House passage of farm legislation

Textiles | On 22nd Jun 2018

NCC applauds House passage of farm legislation

The National Cotton Council (NCC) of the US has welcomed the passage...

Courtesy: Roman Pohorecki from Pexels

Apparel/Garments | On 22nd Jun 2018

UK launches inquiry on sustainability of fashion industry

The Environmental Audit Committee of the UK Parliament has launched...

Interviews View All

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Suresh P Bagrecha

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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