Home / Knowledge / News / Textiles / Suryalakshmi Cotton Mills in expansion mode
Suryalakshmi Cotton Mills in expansion mode
18
Oct '10
Suryalakshmi Cotton Mills Limited a major player in Denim & Yarn Industry head quartered at Hyderabad has a 40 Million meters Denim plant at Ramtek and 50,000 spindles Unit in A.P.

•Suryalakshmi setting up a new Ultra Modem Spinning Unit of 50,000 spindles in A.P. at a cost of Rs. 165 Crores
• Income up from Operations up to Rs.135 Crores
• Profit After Tax Increases up toRs.8.47 Croes from Rs.28 lacs in Q2
• EPS increases up by Rs.6.34 from Rs.0.22

Suryalakshmi's Net Revenue has increased 4% when compared with the last quarter of current financial year, from Rs 129.22 crores for the quarter ended June 30, 2010 to Rs 134.50 crores for the quarter ended September 30, 2010. Net Revenue has increased by 28% when compared with corresponding quarter of the previous year, from Rs104.78 crores for the quarter ended September 30, 2009 to Rs. 134.50 crores for the quarter ended September 30, 2010.

Commenting on the results, Paritosh Agarwal, Managing Director said, “We have managed to post good figures in this quarter. With Suryalakshmi's growth plans & setting up of a new Ultra Modern Spinning Unit, the future looks bright. We thank our investors for the faith in our company.”

Turning out an impressive show for the quarter ended September, 2010 the Company has reported a PAT of Rs. 8.47 Cores on a turnover of Rs. 132 Crores showing an EPS of Rs.11.8 Crores for the 1st half.

The turnover has gone up by 28% whereas the EBIDTA has gone up by 85% over the corresponding quarter in the previous year. The EPS at Rs.6.34 for the quarter is up from Rs. 0.22 from the same quarter in the last year. The results from both the segments viz., Spinning & Denim have shown significant rise and the Company expects to do better in the future.

To take further advantage of the buoyant conditions in the Textile Industry the Company is expanding its Spinning capacity by setting up a new Ultra Modem Spinning Unit of 50,000 spindles in A.P. at a cost of Rs. 165 Crores. The land has been identified and orders have already been placed for machinery for 1st Phase of the expansion, i.e, of 25,000 spindles. The plant is expected to be commissioned by March,2012.

The performance for 2012-'13 will reflect the results of both these expansions.

Suryalakshmi, one of the major players in the textile industry in South has modern spinning units at Amanagallu in Mahboobnagar District in Andhra Pradesh and a 40 million meter denim plant at Ramtek near Nagpur, Maharashtra. The company's subsidiary Suryakiran International Ltd, located in the outskirts of Hyderabad, is into the manufacture and export of denim garments.

Suryalakshmi Cotton Mills Limited


Must ReadView All

Textiles | On 24th Jul 2017

Gartex all set to feature garment, textile solutions

Complete value chain of garment and textile manufacturing solutions...

Courtesy: Abercrombie & Fitch

Apparel/Garments | On 23rd Jul 2017

Abercrombie & Fitch launches products on Alibaba Tmall

Abercrombie & Fitch has announced the launch of Abercrombie & Fitch...

Apparel/Garments | On 23rd Jul 2017

NRF urges Congress to reject border adjustment tax

The National Retail Federation has urged Congress to reject a...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Ashok Desai
Bombay Textile Research Association

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

Kai Poehler
Voith Paper GmbH & Co. KG

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

Larry L Kinn
Suominen Corporation

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

Robert Brunner
Devereux

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Jay Ramrakhiani
Occasions Elegance Wear

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

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

July 2017

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

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

Yes No

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

Yes No

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


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



X