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Q2FY16 net surges 30.5% at Nandan Denim
04
Nov '15
Net profit for the second fiscal quarter ended September 30, 2015 surged 30.5 per cent year on year at India's second largest integrated denim fabric manufacturer Nandan Denim Limited (NDL).

Nandam Denim reported a net profit of Rs 15.61 crore for the second quarter of fiscal 2016, up a steep 30.5 per cent from Rs 11.95 crore in the corresponding period of fiscal 2015.

Net sales for the three months to September 30, 2015 at Rs 294.53 crore were higher by 6.4 per cent over previous fiscal's same quarter where it stood at Rs 276.94 crore.

“The Company reported a healthy EBITDA and profit after tax margin at 17.2 per cent and 5.3 per cent, respectively, for the reporting quarter,” Nandan Denim informed in a press release.

For the six months to September 30, 2015, Nandan Denim reported a net profit of Rs 31.11 crore, up 32.8 per cent as against Rs 23.43 crore in the previous fiscal's second quarter.

Net sales in first half of fiscal 2016 amounted to Rs 575.04 crore, which was higher by 6.4 per cent vis-a-vis Rs 540.63 crore in the comparable period of fiscal 2015.

CEO Deepak Chiripal said, “The Company is following its well defined charter of growth and we are pleased with the performance so far.”

“A disciplined approach in line with the long term strategy would enable us to further cement our position in the industry,” he added.

Deepak Chiripal informed that the Company has made significant progress on the proposed capacity expansion of Rs 612 crore that is expected to be on stream in the first quarter of fiscal 2017.

Started in 2014, Nandan Denim Limited is India's second and world's fifth largest integrated denim fabric maker and manufactures denims, cotton fabrics and khakis.

Post expansion, Nandan Denim will become the largest denim manufacturer in the country and the fourth largest in the world. (AR)

Fibre2Fashion News Desk – India

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