Home / Knowledge / News / Textiles / Net profit up by 36% @ Shri Lakshmi Cotsyn
Net profit up by 36% @ Shri Lakshmi Cotsyn
03
May '10
Shri Lakshmi Cotsyn Limited (SLCL), an integrated textile player engaged in manufacturing and processing of wide range of end-to-end textile products and safety textiles for defence and paramilitary forces reported a rise of 62% in net profit at Rs 25.40 crores for the quarter ending 31st March as compared to its net profit reported same period last year.

Total revenue for the quarter stood at Rs. 383.02 crore, a rise of 33 % as against Rs. 288.02 crore in the corresponding quarter. EBIDTA margins for the textile segment enhanced to 17% in the third quarter ending as compared to the 15% in Q3FY10. EPS for the quarter was Rs14.98 as compared to Rs. 10.05 in Q3FY09.

For the nine months period, Shri Lakshmi Cotsyn Ltd clocked a net sale of Rs1109.93 crore as compared to Rs. 829.37 crore, in the corresponding nine months period of previous year resulting an increase of 34%. While the Net profit stood at Rs. 68.09crore as against Rs 50.20crore, in the corresponding nine months period of previous year, an increase of 36%.

During this quarter, Shri Lakshmi Cotsyn Ltd announced the conversion of 8, 43,000 number of warrants into equivalent number of equity shares to promoter group.

Commenting on the results, Dr M.P. Agarwal, Chairman & Managing Director, Shri Lakshmi Cotsyn Ltd said, “We are carrying out a diversified expansion plan for our various verticals that includes home furnishing, terry towels, denim fabrics, technical textile fabrics and spinning project with the project cost of Rs 1,500 crore which shall be funded by raising close to Rs 500 crore in the form of Equity and Rs 1,000 crores as Debt, “The total expansion plan for FY10-11 is expected to yield an additional turnover of Rs 1,000 crore in FY 2011-12 .We believe that post its expansion, Shri Lakshmi Cotsyn will grow faster in the textile industry due to its large scale facilities, fully integrated operations and a diversified rich product mix.”

Dr. Agarwal has also made following announcements:-

1. That the company is setting up 50 MW Solar Power Project in the state of Rajasthan.

2. That the Central Bank of India has approved the project amounting to Rs. 992 Crores for setting up Technical Textile, Denim and Wider Width Sheeting expansion projects and has underwritten the entire term loan of Rs. 694 Crores out of the total project cost.

3 That The Company has acquired spinning facilities of 25000 no's of spindles on job work at District Fatehpur from U.P State Co-operative Federation Limited.

4 That the ongoing Terry Towel expansion project from 3000 TPA to 15000 TPA which is expected to be commissioned by September 2010.

5 That the Company is launching its “DYFI” brand for Garments. On 1st July 2010 on All India basis.

Shri Lakshmi Cotsyn Ltd. is a technology driven integrated multi-product and multi-market player, engaged in manufacturing and processing for high quality standards, end-to -end textile products and safety textiles for paramilitary forces and other defense establishments since 1993.

Shri Lakshmi Cotsyn Limited

Must ReadView All

Textiles | On 22nd May 2017

GST to be biggest achievement of Modi govt: ASSOCHAM

Goods and Services Tax (GST) which is near a roll-out would be the...

Textiles | On 22nd May 2017

Maintaining NAFTA benefits is crucial: Cotton council

The US must remain a participant in a vibrant North American Free...

Apparel/Garments | On 22nd May 2017

Retailers ask Congress not to go for consumption tax

The National Retail Federation has asked US Congress to focus on...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Urs Stalder
Sanitized AG

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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