Home / Knowledge / News / Textiles / SKNL delivers healthy performance in Q2 FY2010
SKNL delivers healthy performance in Q2 FY2010
02
Nov '09
SKNL, a leading brand-led conglomerate involved in design, marketing and distribution of high quality fabrics and ready-to-wear garments, has announced its results for the second quarter and half year ended 30 September, 2009.

SKNL has delivered an enhanced performance in Q2 FY2010. The Company has demonstrated an ability to deliver improving and sustained performances through variable and often challenging environments demonstrating the strength and diversity of its business model. Now that the macro economic scenario has turned the Company is well placed to grow manifold driven by its brand, design, marketing and distribution led activities.

Domestically, the Company has a strong set of brands catering to nearly all socio-economic segments in the branded garment and fabric space. With the acquisition of assets of Hartmarx, the largest men's tailored Company in America, SKNL now has access to a whole array of leading international brands including Hickey Freeman, Bobby Jones, Hart Schaffner Marx, Exclusively Misook, Austin Reed amongst others. For the rest of this year, SKNL expects to progressively improve its performance led by increased festive season sales, higher consumer confidence and efficient cost management.

(SKNL results that are being reviewed are consolidated with Reid and Taylor India Limited (RTIL), Leggiuno SpA along with holding Companies and HMX LLC and Coppley Inc.) In the quarter under review, SKNL's net sales grew 69.7% to Rs 951.4 crores from Rs. 560.5 crores. This growth in sales was driven mainly by volume enhancement across product offerings. Revenues have also been positively affected by a Rs. 243.5 crores sales contribution from its overseas operations.

EBIDTA for the quarter stood at Rs. 183.2 crores compared to Rs. 1,33.3 crores, an increase of 37.5%. Margins for the quarter under review stood approximately at 19.2%. In Q2 FY2010, PBT increased to Rs. 100.1 crores versus Rs. 89.1 crores in the corresponding period last year. Net profit after minority interest for the period under review stood at Rs. 58.4 crores compared to Rs. 57.8 crores. Hartmarx is also EBIDTA positive, though this is first quarter of the acquisition. In the first year, we expect EBIDTA to touch a level of 15% in Hartmarx. Commenting on the performance in Q2 FY2010 Mr. Nitin S. Kasliwal, Managing director and Vice Chairman of SKNL said, “I am happy to announce a healthy performance in Q2 FY2010. It is highly encouraging to witness our domestic business growing steadily at all levels across offerings driven mostly by remarkable performances from Reid & Taylor and Belmonte."

"Belmonte, in particular, has truly matured into an established pan-India brand in the mid-premium space.The brand has been a primary contributor to margin expansion in both the Consumer Textile and the Total Wardrobe Solutions divisions. Our recent acquisition of Hartmarx will enable tremendous backend-frontend synergies within the group. Given the quality and diversity of its brand portfolio, Hartmarx is an extremely exciting business venture.


Must ReadView All

Global economic upswing became broader & stronger: IMF

Textiles | On 19th Apr 2018

Global economic upswing became broader & stronger: IMF

The global economic upswing that began around mid-2016 has become...

Courtesy: ITMA

Textiles | On 19th Apr 2018

ITMA 2019 expanding space due to overwhelming response

Due to overwhelming response, the exhibition space has been increased ...

BIDA’s Europe trip to showcase a different Bangladesh

Apparel/Garments | On 19th Apr 2018

BIDA’s Europe trip to showcase a different Bangladesh

The Bangladesh Investment Development Authority (BIDA) is taking a...

Interviews View All

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Suresh Patel
Sidwin Fabric

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Yash P. Kotak
Bombay Hemp Company

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

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

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


April 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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