Home / Knowledge / News / Textiles / Indo Rama Synthetics delivers modest growth in Q4 FY12

Indo Rama Synthetics delivers modest growth in Q4 FY12

26
Apr '12
Indo Rama Synthetics (India) Limited, India's largest dedicated polyester manufacturer, announced its audited annual and Q1 results for the financial year ended March 31, 2012.

For the financial year ended March 31, 2012, the net sales stood at Rs 2943.27 crore, up by 5.26% as against Rs 2796.06 crore in the previous year. Company reported an all time high exports of Rs 908.94 cr during the year. EBIDTA (without exceptional items) for the year is Rs 319.06 crore as compared to Rs 119.62 crore in the last year. The PAT for the year is Rs 31.96 crore from Rs 139.11 crore in the corresponding period. The PAT was impacted primarily due to a weak rupee.

Overall this was a challenging year for the entire industry with depressed demand for polyester products compounded by a weak rupee which adversely impacted raw material procurement price. Despite the macro-economic challenges, the company registered growth in sales and continued to focus on internal efficiencies and cost optimization projects to counter the margin pressures during the year.

The Board has recommended a dividend of 10% to its shareholders.

As a strategic move for the company's growth, Indo Rama Synthetics (India) has signed a Mol) with the Thailand based Indorama Ventures to set up a world-class, state-of-the-art integrated facility in India to produce PTA (Purified Terephthalic Acid), PET (Polyethylene Terephthalate) and PSF (Polyester Staple Fiber).

This project with an overall capacity of 1.2 million tonnes per annum, entails an investment of nearly Rs 4000 crore. On commissioning, the plant will help Indo Rama's backward integration, serve Indian customers and expand the Group's market globally.

Commenting on the Results, Mr. O P Lohia, Chairman and Managing Director, Indo Rama Synthetics (India) Limited said, "We have successfully managed a highly challenging year and delivered a modest growth. We believe that the exceptionally long down turn for the industry is set to reverse now. Our achievements in enhancing internal efficiencies during this year has made us more competitive and poised to exploit market opportunities as the business improves in the coming quarters. Our expansion plans for a new PTA, PET and PSF facility demonstrates our conviction and belief in the long term prospects of the industry".

Indo Rama Synthetics (India) Limited


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 2nd Aug 2021

Vietnam surpasses Bangladesh as 2nd biggest garment exporter: WTO

Bangladesh recently lost its rank as the second largest apparel...

Pic: Shutterstock

Textiles | On 2nd Aug 2021

Euro zone economy expands by 2% in Q2 2021: Eurostat

The 19-member euro zone financial system expanded by 2 per cent in...

Pic: Shutterstock

Textiles | On 2nd Aug 2021

US real GDP increases at annual rate of 6.5% in Q2 2021: BEA

US real gross domestic product (GDP) increased at an annual rate of...

Interviews View All

Water stewardship, Stakeholders

Water stewardship
Stakeholders

Water use efficiency remains relatively unexplored

Textile Industry, Head honchos

Textile Industry
Head honchos

Fabric selection & recommendation based on client's brief

Textile Industry, Head honchos

Textile Industry
Head honchos

Ensured payment of fee was least concern for students

Chendhuran Sundar,

Chendhuran Sundar

Headquartered at Singapore, Crocodile is a global fashion and lifestyle...

Ujjval Saraf,

Ujjval Saraf

Founded by Jimmy Lai, Giordano International Ltd, a Hong Kong based...

Abdullah Mohammad Saad Hossain,

Abdullah Mohammad Saad Hossain

Saad Group is a leading vertically integrated textile group in Bangladesh. ...

Pranesh Sridharan & Berndt Koll, Lenzing

Pranesh Sridharan & Berndt Koll
Lenzing

The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

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


July 2021

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


Advanced Search