Home / Knowledge / News / Textiles / Sales in consumer textiles division at SKNL grow by 21.4%
Sales in consumer textiles division at SKNL grow by 21.4%
02
Jul '09
SKNL, a leading brand-led conglomerate involved in marketing and distributing high quality fabrics and ready-to-wear garments, has announced its results for the year ended 31 March, 2009.

Financial performance update: (All figures are consolidated unless stated otherwise)

FY2009 Financial results highlights:
• Net income from operations up 29.3% to Rs. 22,603.6 million from Rs. 17,486.5 million
• EBIDTA improves 20.9% to Rs. 4,880.9 million from Rs. 4,037.9 million
• Net profit before minority interest at Rs. 1,951.4 million
• EPS post minority interest of Rs 8.06

SKNL: FY2009 Details to Results Announcement
SKNL has been successful in delivering a healthy result in weak market conditions demonstrating the soundness and diversity of its business model. The Company has paid great emphasis on distribution and marketing lead operations which have proven to be remunerative even in these variable times. Through dedicated focus on brand building, SKNL has developed leading brands that cater to all socio-economic segments of the Indian consumers. The brands under the SKNL umbrella include Reid & Taylor, Belmonte, Carmichael House and S. Kumars. All these brands are amongst the top brands in their respective segments.

Financial Performance Review
(SKNL results that are being reviewed are consolidated with Reid and Taylor India Limited (RTIL) and SKNL International B.V., Netherlands) Revenues

In the financial year under review, SKNL's net sales grew 29.3% to Rs. 22,603.6 million from Rs. 17,486.5 million. This growth in sales was driven by volume enhancement across brands. Sales for the luxury textile segment, which comes under Reid and Taylor fabrics, grew by about 33.4%. Ready-to-wear garments contributed strongly with a 49.1% increase in sales over the corresponding period last year.

Driven also by volume expansion across product categories, sales in the consumer textiles division grew by over 21.4%. Starting October 1, 2008 the financial performance of Leggiuno has also been consolidated in the Company's results. This contributed to the enhancement of revenues in FY2009. Legguino's contribution in the total sales of the Company was Rs. 598 million.

Increase in sales volumes, despite weak consumer sentiment prevailing currently, can be attributed to the strong recall commanded by SKNL brands.

Expenditure
Total expenditure in the period under review, excluding depreciation, increased by 31.9% to Rs. 17,881.4 million from Rs. 13,553.6 million. Increase in total expenditure can be largely linked to an increase in scale of the Company's operations across its business divisions. In FY2009, consumption of raw material increased by 29.4% to Rs. 14,610.2 million from Rs. 11,286.4 million in the last year. Even though FY2009 has been a variable and challenging year SKNL has been successful in maintaining its raw material cost as a percentage of net sales to approximately 64.5% in FY2009, this figure was the same in FY2008.

Must ReadView All

Courtesy: Myntra

Apparel/Garments | On 3rd Dec 2016

Myntra to be EBITA positive by FY18: CEO Narayanan

Myntra is on track to achieve sustainable growth and be EBITA...

Courtesy: India ITME Society

Textiles | On 3rd Dec 2016

India ITME 2016 opens with over 1050 exhibitors

The India International Textile Machinery Exhibition (India ITME)...

Courtesy: Bruckner

Textiles | On 3rd Dec 2016

Indian textile companies opt for Brückner stenter lines

Indian textile firms Laxmipati Sarees, makers of polyester sarees and ...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Nuno Venda
ROQ

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

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Larry L Kinn
Suominen Corporation

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

Kerem Durdag
Biovation II LLC

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

Lynda Kelly
Suominen Corporation

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

Pranav Mishra
Huemn

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Yash P. Kotak
Bombay Hemp Company

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

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search