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

Textiles | On 25th May 2017

Huntsman and Clariant to have merger of equals

Huntsman Corporation and Clariant have announced that their boards of ...

Courtesy: CBRE

Apparel/Garments | On 25th May 2017

European cities preferred for retailer expansion: CBRE

European cities were the preferred new destination for international...

Apparel/Garments | On 25th May 2017

Guess records $458.6 million revenue for Q1 2018

For the first quarter of fiscal 2018, the net revenue of American...

Interviews View All

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kai Poehler
Voith Paper GmbH & Co. KG

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

Igor Chapurin
Chapurin

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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