Alok Industries reports outstanding perfomance in Q2

October 31, 2008 - India

Alok Industries Limited, one of the leading integrated textile companies in India, today reported a Net Sales of Rs. 698.14 crore for the quarter ended 30 September 2008, a jump of 50.21% over the corresponding quarter of the previous year (Rs. 464.78 crore). Sales for the six months ended 30 September 2008 stood at Rs.1,241.58 crore – a 40.50% increase over the same period of the previous fiscal (Rs. 883.68 crore)

Export Sales for the second quarter stood at Rs 261.16 crore, representing a 29.67% increase over the Rs. 201.40 crore achieved during the quarter ended 30 September 2007. At a cumulative level, export sales for the half-year ended 30 Sep 2008 reached Rs. 459.10 crore – an increase of 18.02% over the figure reported for the six months ended 30 September 2007 (Rs. 389.01 crore).

Operating Net Profit for Q2 FY 2008-09 reached Rs. 45.26 crore, a growth of 26.60% as compared to Rs. 35.75 crore posted in the same period of last year. The corresponding figures for the six-month period were Rs. 75.09 crore (in 2008-09) vis-à-vis Rs. 63.07 crore (in 2007-08) – a growth of 19.06%

Operating Earnings per Share as on 30 September 2008 worked out to Rs 3.84 as compared to Rs 3.70 for the six months ended 30 September 2007.

Commenting on the results, Mr. Dilip Jiwrajka, Managing Director, Alok Industries Limited said, “In a challenging economic scenario, our performance reflects positively on the efficiencies of scale and operations that Alok has been able to implement over a period of time.

Timely expansions, integration across the textile value chain and sustained focus on quality, cost and consistent on-time deliveries have made Alok a ‘supplier of choice’ to demanding global customers. Alok is also well poised to take advantage of the depreciation of the Rupee vis-à-vis the Dollar and other currencies. Alok has a healthy order book and, during the current fiscal, is confident of maintaining its growth rate.”

About Alok Industries Ltd.:
Established in 1986, Alok Industries Ltd. is amongst the fastest growing vertically integrated textiles solutions provider in India. A diversified manufacturer of world-class home textiles, apparel fabrics, garments and polyester yarns, and an integrated textile solutions provider.

Alok currently has annual capacities of 40,500 tons of spinning, 46 mln metres of wider width weaving (along with 82.50 mln metres of wider width processing), 10 mln pieces of made-ups, 63.92 mln metres of apparel width weaving (82.50 mln metres of apparel width processing), 18,200 tons of knit weaving and processing each, 3000 tons of yarn dyeing, 15 mln pieces of garmenting 75,000 tons of polyester texturising.

The company has a blue chip international customer base comprising of world renowned retailers, importers and brands.