Home / Knowledge / News / Textiles / SKNL delivers enhanced performance in Q2 FY2010-11
SKNL delivers enhanced performance in Q2 FY2010-11
30
Oct '10
SKNL, a leading brand-led conglomerate involved in design, manufacturing, 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, 2010.

Financial performance update:

Q2 FY2010-11 Financial results highlights:
- Net sales from operations up 26.5% to Rs. 1203.40 crores from Rs. 951.41 crores.
- EBIDTA improves 32.1% to Rs. 242.08 crores. from Rs. 183.25 crores.
- Net profit (before minority interest) up 12.4 % to Rs. 77.85 crores compared to Rs. 69.25 crores.
- PAT after minority interest at Rs. 63.87 crores.
- Fully diluted EPS after minority interest (not annualized) at Rs. 2.52.

H1 FY2010-11 Financial results highlights:
- Net sales from operations up 43.3% to Rs. 2378.32 crores from Rs. 1659.53 crores.
- EBIDTA improves 35.5 % to Rs. 467.59 crores from Rs. 345.17 crores.
- Net profit (before minority interest) up 18.4 % to Rs. 155.04 crores compared to Rs. 130.99 crores.
- PAT after minority interest at Rs. 126.58 crores.
- Fully diluted EPS after minority interest (not annualized) at Rs. 5.04.

SKNL has delivered an enhanced performance in Q2 FY2010-11. 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, manufacturing, 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 HMX, 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. and SKNL-UK).

In the quarter under review, SKNL's net sales grew 26.5% to Rs 1203.40 crores from Rs. 951.41 crores. This growth in sales was driven mainly by volume enhancement across product offerings.

EBIDTA for the quarter stood at Rs. 242.08 crores compared to Rs. 183.25 crores, an increase of 32.1%. Margins for the quarter under review stood approximately at 20.0 %. In Q2 FY2010-11, PBT increased to Rs. 115.62 crores versus Rs. 100.15 crores in the corresponding period last year. Net profit after minority interest for the period under review stood at Rs.63.87 crores compared to Rs.58.43 crores.


Must ReadView All

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Marten Alkhagen
Swerea IVF AB

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

Larry L Kinn
Suominen Corporation

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

Kai Poehler
Voith Paper GmbH & Co. KG

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

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Ritu Kumar
Label Ritu Kumar

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

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

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