Home / Knowledge / News / Textiles / Sangam (India) back in black; achieves highest revenues
Sangam (India) back in black; achieves highest revenues
27
May '10
Strong domestic demand coupled with better capacity utilisation has enabled Sangam (India), a leading polyester-viscose dyed Yarn Company, post drastic turnaround in its performance for the financial year ended March 31, 2010. The board of directors have recommended dividend at the rate of 10 per cent on equity shares for the financial year 2009-10.

For the year ended March 31, 2010, Sangam (India) posted a 14 per cent rise in net sales at Rs. 852.25 crore compared to Rs 748.27 crore last year The company has posted net profit of Rs 17.16 crore against net loss of 15.98 crore. Despite of challenging market scenario and volatile movement of currency, the company has seen a significant improvement in its EBIDTA margins by 4.45% to 15.02 per cent compared to 10.57 per cent of last year.

For the quarter ended March 31, 2010, the company has posted 28% growth in net sales at Rs 229.38 crore compared to Rs 179.50 crore in the corresponding quarter last year. It posted a profit of Rs 7.79 crore against net loss Rs of 3.52 crore , EBIDTA margin in Q4 has been improved by 395 basis point to 16 .06 % on back of strong demand in PV dyed segment and overall improvement across the sector

Commenting on the result Mr R.P Soni chairman of the company said – “During the current year the company has posted good set of number and achieved the highest ever revenues of 852.25 crore . The company has also posted highest ever EBIDTA of Rs. 127.99 crore and posted a cash profit of Rs 89.31 crore. The company has witnessed strong demand for its products from January 2010 onwards as surplus capacity in the sector has been absorb by robust domestic demand. Going forward, we are foreseeing the strong business growth in the coming quarters”.

Expansion Plan
The company is undertaking a expansions by doubling its denim production from 8 million meter to 16 million meter by setting up an additional line. In FY09, the company had completed its Rs 650 crore major expansion plan by adding 1.29 lakh spindles, 130 weaving machines, setting up of 21MW power plant and modernising of process house.

Order book position
The company has witnessed a significant improvement in it's order-book position. As on March 31, 2010, company's order book position stood at Rs 170 crore, including export order of Rs 60 crore.

Sangam (India) Limited


Must ReadView All

SIMA makes pre-budget recommendations to Indian govt

Textiles | On 22nd Jan 2018

SIMA makes pre-budget recommendations to Indian govt

Exemption of 5 per cent goods and services tax (GST) on raw cotton,...

Building of Ethiopian textile unit by Chinese firm starts

Textiles | On 22nd Jan 2018

Building of Ethiopian textile unit by Chinese firm starts

Chinese firm Wuxi No. 1 Cotton Mill will build a textile plant in...

Indian minister urges apparel industry for dumping data

Textiles | On 22nd Jan 2018

Indian minister urges apparel industry for dumping data

Indian textiles minister Smriti Irani recently urged the apparel...

Interviews View All

Mandeep Nagi
Shades of India

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

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Abhishek Pachauri

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

Harmeet Singh

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

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Eric Scholler
Groz-Beckert

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

Silke Brand-Kirsch
Schlegel und Partner

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

Urs Stalder
Sanitized AG

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

Mike Hoffman
Gildan Activewear SRL

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth 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

January 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
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

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
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

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
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

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
8.2%
Skip
9.3%

Total Votes: 97


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