Home / Knowledge / News / Textiles / Saif Textile Mills achieves 19.77% growth in the turnover
Saif Textile Mills achieves 19.77% growth in the turnover
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

Textiles | On 22nd Feb 2017

Bangladesh exporters want duty-free access to US, Brazil

Garment and apparel exporters of Bangladesh are seeking duty-free...

Textiles | On 22nd Feb 2017

India to produce 341 lakh bales cotton in 2016-17: CAI

The Cotton Association of India (CAI) has maintained in its January...

Textiles | On 22nd Feb 2017

'India to be self-sufficient in silk production by 2020'

Indian could be self-sufficient in silk production by the year 2020...

Interviews View All

Nuno Venda

‘There has been an increase in demand for water based inks, rather than...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Silke Brand-Kirsch
Schlegel und Partner

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

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Pranav Mishra

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Mike Hoffman
Gildan Activewear SRL

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

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

February 2017

February 2017

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


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search