Home / Knowledge / News / Textiles / SKNL generates healthy result in Q1 FY2009
SKNL generates healthy result in Q1 FY2009
Jul '08
SKNL, a pioneer in manufacturing and distributing branded textile and ready to wear clothing, announced its results for the quarter ended 30 June 2008.

Commenting on the performance in Q1 FY2009 Mr. Nitin S. Kasliwal, Managing director and Vice Chairman of SKNL said,

“We have entered this fiscal year on a strong footing by delivering a healthy result in Q1 FY2009 and successfully completing a PE deal with GIC, the private equity arm of the Government of Singapore Investment Corporation.

GIC has invested Rs. 9,000 million in Reid & Taylor and acquired 25.4% stake in the company. The balance stake of 74.6% will continue to remain with SKNL. Reid & Taylor being valued at Rs. 35,400 million has been tremendously encouraging for the SKNL team.

The investment symbolizes a high level of confidence amongst global investors in our ability to execute and create distinct businesses that have the potential to deliver sustained value. We look forward to pursuing our opportunities for enhanced profitability and growth."

One of our key growth drivers going forward will be the high value fine cotton venture as it is a high margin business and since it requires significant expertise and investment, the sector is characterized by few players.

This business unit's manufacturing facility is set to be commissioned by Dec 2008 and once it is operational this segment should add substantial value as we will export a majority of the fabrics to leading international luxury brands.

We enjoy a good degree of penetration with brands present in a number of socio-economic segments across the clothing industry in India.

Our brands include Reid & Taylor, Belmonte, Stephens Brothers, Carmichael House and S.Kumars. With a wide portfolio of brands and an undiminished appetite for growth we believe our business will continue to deliver superior performances in the future”.

Revenues of the Company in Q1 FY2009 witnessed a healthy increase of 41.1% driven by healthy sales seen across segments of the company especially in the premium fabric and clothing segment

SKNL delivered a healthy operating profit and was successful in maintaining margins even though raw materials costs have risen significantly demonstrating the operating efficiency of the Company

PAT in Q1 FY2009 stood at Rs. 550.9 million":
- Interest cost increased by 64.9% to Rs. 276.1 million from Rs. 167.4 million, which is temporary in nature and would reduce with the conversion of warrants issued to Asia Debt Management Ltd.

- Depreciation for the period stood at Rs. 124.3 million

- Tax expense stood at Rs. 287.0 million for Q1 FY2009

Key Strengths:
- Highly capable management with several years of experience in the business
- Diverse set of brands that offer a varied range of products enabling it to cater to a number of socio-economic groups in the Indian market
- Reid & Taylor – premium fabrics and ready-to-wear suiting

Must ReadView All

Courtesy: Reliance Industries

Textiles | On 24th Apr 2017

Reliance’s FY17 revenue from petrochemicals up 12.2%

Increase in prices across polymers and polyester chain has...

Textiles | On 24th Apr 2017

India, Kazakhstan to increase cooperation in textiles

Indian and Kazakhstan are deliberating upon increasing cooperation in ...

Textiles | On 24th Apr 2017

GST reflects 'One nation, One aspiration' spirit: Modi

Prime Minister Narendra Modi has said that the Goods and Services Tax ...

Interviews View All

Angelina Francesca Cheang

'Consumers in the age-group 21 to 38 are driving the activewear trend'

C Kamatchisundaram

ITME is an occasion not only to receive new leads but also to work on...

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Urs Stalder
Sanitized AG

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Pranav Mishra

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

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

April 2017

April 2017

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


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search