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Nandan Denim net sales up 41% in Q1FY18
16
Aug '17
Nandan Denim, poised to be Asia’s leading denim fabric manufacturer, has reported net sales worth Rs 423.70 crore for the first quarter of 2018, higher by 41 per cent over corresponding net sales of Rs 300.50 crore. The company's net profit was Rs 16.31 crore as against Rs 15.98 crore in the corresponding period of previous year, a rise of 2.06 per cent.

For the first quarter of 2018, company reported healthy EBITDA and PAT margin at 14.44 per cent and 3.84 per cent respectively. EPS for Q1FY18 stood at Rs. 3.39 (Face value of Rs. 10 per share). 

"Overall performance during the quarter was satisfactory in spite of rollout of GST. The company has successfully completed the capacity expansion plan and expects to get the full realisation and synergies of the expansion in the current financial year. Post expansion, Nandan Denim has become India’s largest denim fabric manufacturer with installed capacity of 110 million metre per annum. Spinning capacity is increased to 141 tons per day and in addition, company has created yarn dyed shirting capacity of 10 MMPA," Deepak Chiripal, CEO, Nandan Denim said.

Nandan Denim was ranked at 198 in Fortune India's latest ranking of The Next Fortune 500. Nandan Denim's rank improved from 208 from the 2016 ranking. (RR)

Fibre2Fashion News Desk – India


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