Home / Knowledge / News / Textiles / ED of Suryavanshi Spinning extremely happy with Q3 results
ED of Suryavanshi Spinning extremely happy with Q3 results
29
Jan '11
Suryavanshi Spinning Mills Ltd established textile player with a spindle capacity of over 1,00,000 tons has posted Net Profit of 3.57 cr for the Quarter ended on 31st December 2010, as compared to 1.68 cr. in the corresponding quarter of the previous year.

• Income from Operations up by 57%
• Profit after tax increased by 113 % in Q3FY11
• EPS stands at Rs. 2.69

The company's revenues soared to 81.25 cr for the reporting quarter by a whopping 57% as compared to 51.68 cr in Q3 Dec, 2009

The company saw its EPS touching 2.69 as compared to 1.27 in the corresponding period of the previous year.

SSML is one of the integrated group Units in the country with backward integration into cotton ginning with a production capacity of 1000 Bales per day of raw cotton (each bale of 170 kg) and also integrated forward with daily knitted garments production of 10,000 pieces capacity. Also, they have planned a capex of around Rs 130-crore, which will be used for the overall expansion plans in the spinning and garment business over the next 18 months.

The company also plans a substantial investment in near future to expand its production capacities. Post expansion Suryavanshi Spinning Mills Ltd. is expects to increase its ginning capacity from 1000 Bales per day to 2000 bales, whereas the spindle capacity is expected to rise to 2,00,000 spindles in the next three years. The daily garment production capacity is also expected to go up to 25000 pieces in the next three years.

Commenting on the results, Mr. J.K.Agarwal, Executive Director, Suryavanshi Spinning Mills Ltd said, “We are extremely happy with the results. The company is in an expansion mode and is looking forward to increase the production capacity by upgrading the existing technology. With the 130 crore capex plan, we aim to continue doing well and keep up with the expectations of our stakeholders.”

Suryavanshi (SVSM) Group started its operations with spinning activity in 1978 with a spindle capacity of 1728 and steadily grown to a capacity of 1, 00,000 by 2002. Over the years the management has acquired an in-depth knowledge on raw-material.

Suryavanshi Spinning Mills Ltd


Must ReadView All

Apparel/Garments | On 26th Sep 2017

US raises annual AGOA quota for textiles

The US Committee for the Implementation of Textile Agreements has...

Textiles | On 26th Sep 2017

Gujarat hopes extended textile policy to attract Rs 5000 cr

The Gujarat government feels that its recent decision to extend its...

Apparel/Garments | On 26th Sep 2017

Cash burn by e-tailers in India may double during festivals

During this year’s festival season, which has already started,...

Interviews View All

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

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

September 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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