Home / Knowledge / News / Textiles / Sangam (India) profits surge 229.77%
Sangam (India) profits surge 229.77%
30
Apr '11
Bhilwara-based, Sangam (India), one of the largest manufacturers of polyester-viscose dyed yarn in India, announced robust financial performance for the fourth quarter and the financial year ended as on March 31, 2011.

Management Comment

"Robust demand scenario coupled with higher realization has helped us to post strong all around growth, said Mr. R.P. Soni, Group Chairman. He further added, "Given the current robust demand scenario in yarn business, we have managed to pass on increased input cost to customer and improve our margin substantially.

"Going forward, we are targeting a revenue growth in the region of 22-25 per cent revenue growth in the next 2-3 year following the change in product mix coupled with capacity expansion taken in the last quarter," elaborated Mr. Soni.

He also informed that the company plans to utilize the surplus cash for retiring its long-term debt and redeploying it for fresh capacity expansion plans, which will further boost the profitability of the company.

FY11 Performance (April 2010 compared to March 2011)

? The company posted a 37.46 per cent rise in net sales at Rs 1,171.52 crore for the period, ended March 31, 2011 compared to Rs. 852.25 crore in the corresponding period of the previous year.

? Higher realization in yarn business plus increased demand scenario in the PV segment helped the company post a higher profit.

? Net profit for period under review was up 229.77 percent at Rs. 56.59 crore as against Rs.17.16 crore in the corresponding period last year.

? On an equity capital of Rs. 39.42 crore, the company has posted an EPS (fully diluted) Rs 14.36 for fiscal year ended March 31 2011.

? The Board of Directors of the company also approved Final dividend of Rs.1.50 per share

Q4FY11 Performance

(3MFY 2011 - January-March 2011) compared to (FY11 - January - March 2010)

? Net sales grew by 56.22 percent to Rs. 358.36 crore for the quarter ended March 31, 2011 compared to Rs. 229.38 crore in the corresponding quarter of the previous year.

? Net profit surged by 173.55 percent to Rs. 21.31 crore compared to Rs. 7.79 crore in the corresponding quarter of the previous year.

? For the period under review, EBIDTA grew by 58.96 percent to Rs 58.53 crore compared to Rs.36.82 crore in the corresponding quarter of the previous year.

Q-o-Q Performance

(3M March 2011 compared to 3M December 2010)

? Net sales grew by 24.17 per cent to Rs. 358.36 crore for quarter ended March 2011 compared to Rs. 288.59 crore in the quarter ended December 2010.

? Net Profit surged by 15.50 percent to Rs. 21.31crore as against Rs. 18.45 crore in December 2010 quarter.

Update on Expansion Plans

The company has undertaken Rs 171 crore expansion-cum diversification plan to set up additional denim capacity of 16 million meters per annum, 7200 metric tonne of texturing yarn, install 2,304 rotters and 3,000 MTPA knitting capacity in Bhilwara.


Must ReadView All

Coats acquires yarn manufacturer Patrick Yarn Mill

Textiles | On 12th Dec 2017

Coats acquires yarn manufacturer Patrick Yarn Mill

Coats, the world’s leading industrial thread manufacturer, has...

India’s garment imports from Bangladesh up 56% post-GST

Apparel/Garments | On 12th Dec 2017

India’s garment imports from Bangladesh up 56% post-GST

India has imported $87.4 million worth of readymade garments from...

Courtesy: Badger Sportswear

Apparel/Garments | On 12th Dec 2017

Badger Sportswear acquires Alleson Athletic

Badger Sportswear, a leading manufacturer of athletic apparel and...

Interviews View All

Top executives
Textile industry

The foremost issue is bridging the skill gap

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Mandeep Nagi
Shades of India

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

Suresh P Bagrecha

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

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

C Dhandayuthapani

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Igor Chapurin
Chapurin

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

Jay Ramrakhiani
Occasions Elegance Wear

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts 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

December 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
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

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
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

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
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

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
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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