Home / Knowledge / News / Apparel/Garments / Gokaldas achieves higher revenue of 12% in Q1
Gokaldas achieves higher revenue of 12% in Q1
31
Jul '08
In the First Quarter of 2008-09 (Q1), Gokaldas Exports Ltd. has achieved total revenue of Rs.272 crores which is 12% higher than the Q1 of last year (2007-08). The stand alone EBIDTA achieved in this Quarter is Rs.30 crores as against last year's of Rs.25.96 crores.

An increase in EBIDTA of 16% is achieved in spite of the fact that Rs.8.30 crores of Foreign Exchange notional losses against Forex borrowing restatement have been accounted. The PAT stands at Rs.11.05 crores as against Rs.10.52 crores of last year thereby showing the increase of 5%.

This increase in PAT could have been much higher but for the impact of Forex volatility which have been accounted to the extent of Rs.18 crores (loss). Both the EBIDTA and the PAT would have been much higher if the performance would have not been impacted by the rupee volatility.

Our business fundamentals are strong which is demonstrated by the good profit growth in our business. We expect the quarters ahead to compensate for the exchange losses booked this quarter and once Foreign Exchange covers are ended and with the present dollar / rupee rate our bottom line would be much stronger. The rupee volatility has been the major cause of concern and the quarterly financials are very much influenced by the consequent provisions.

The apparel industry as a whole has gone through a challenge in the first quarter due to the thrust of recession in our major markets, rising crude prices and unfavourable economic environment across the world. The rising cotton prices and chemical dyes prices pose a big threat to India's competitiveness, in addition to the impact of inflation on wages.

If the Indian rupee maintains at the level of Rs.42 to 43 and if more orders comes in India's way this could probably give a push to the sagging Apparel Exports. Our order positions for Q2 is around Rs.275 crores and bookings are open for Q3.

Though China (a major competitor in international apparel trade) has also been affected by the high inflation, much depends upon the US and EU market sentiments. The quarter Q2 (July/August/September) would be crucial as an indicator to see whether India can get a slice of China's apparel business.

Click here to view detailed results:

Gokaldas Exports Ltd


Must ReadView All

Courtesy: ASEAN

Apparel/Garments | On 16th Nov 2018

ASEAN RCEP pushed back to 2019 due to lack of consensus

The Association of Southeast Asian Nations (ASEAN) postponed...

Cotton sector to receive boost in Azerbaijan's Ujar region

Textiles | On 16th Nov 2018

Cotton sector to receive boost in Azerbaijan's Ujar region

Factories for cotton processing, production of cottonseed oil and...

Uzbekistan wants zero EU customs duty on textile products

Textiles | On 16th Nov 2018

Uzbekistan wants zero EU customs duty on textile products

Uzbekistan plans to seek zero customs duty from the European Union...

Interviews View All

Karel Williams, Dow Microbial Control

Karel Williams
Dow Microbial Control

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

Karan Toshniwal, Orange O Tec

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Janak Dhamanwala & Sunil Dhamanwala, Jansun

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Shyam Gupta & Ravi Gupta,

Shyam Gupta & Ravi Gupta

Based out of South Delhi, Gargee Designer's provides bespoke formal and...

Franco Ravazzi,

Franco Ravazzi

Italy-based Tessimenti E Orditi Tinti (T.O.T SRL) specialises in stocking...

Liz Manning,

Liz Manning

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

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Silke Brand-Kirsch, Schlegel und Partner GmbH

Silke Brand-Kirsch
Schlegel und Partner GmbH

<div>Schlegel und Partner is the market research and consultancy company...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

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

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

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

Leave your Comments


November 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search