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PAT jumps 23% in FY 2015-16 at Nandan Denim
31
May '16
Deepak Chiripal, CEO, Nandan Denim
Deepak Chiripal, CEO, Nandan Denim
Leading denim manufacturer Nandan Denim posted a rise of 23 per cent in profit after tax (PAT) during the fiscal 2015-16 to Rs 63.32 crore as compared to Rs 51.43 crore last fiscal, attributed to the company's right measures.

Basic EPS posted by the company was Rs 13.90 during the fiscal as compared to Rs 11.29 in FY 2014-15. EBITDA stood at Rs 195.29 crore as compared to Rs 168.48 crore previously.

Net sales of the company was Rs 1156.72 crore as compared to Rs 1096.53 crore previously, a rise of 5 per cent.

“Our financial performance validates that we are taking right steps in the right direction. With the type of tighter operating controls, prudent raw material sourcing and growing capacity utilisation that we have apart from concentrated efforts in moving up in the product segment, we are able to fetch superior financial returns for the investments,” Deepak Chiripal, CEO of Nandan Denim commented.

“We are confident that post completion of the expansion plans, the company, with much larger production capacities and product baskets, would be optimally placed in competitive market to cater to the larger demand arising from India and overseas markets,” he added.

The board of directors declared 16 per cent interim dividend for the year 2015-16. (MCJ)

Fibre2Fashion News Desk - India

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