Eastern Silk Industries Limited, a leading exporter of silk fabrics, has recorded 26 percent growth in sales to Rs. 116.63 cr. And 56 percent growth in net profit to Rs. 16.18 cr. for the second quarter ended September 30, 2006 as compared to the corresponding quarter of the previous year.
For the first half ended September 30, 2006, the company has recorded 28 percent growth in sales to Rs. 229.59 cr. and 63 percent growth in net profit to Rs. 30.53 cr as compared to the corresponding previous half.
Sales are mainly from export markets. US and Europe account for about two-third of the company's exports. The company is the largest exporter of silk fabrics with share of around 9 percent of India's exports.
Operating profit margin increased due to higher share of machine made fabrics and made-ups as also savings in raw material cost.
Commenting on the performance, Mr. S. S. Shah, Chairman & Managing Director said, “Extensive integration and higher value addition have enabled us to become the fastest growing silk fabric and furnishing manufacturer in India. Expansion and greater market penetration would help us to sustain the growth momentum.”
Eastern Silk is a leading exporter of silk fabrics with extensive integration for higher value addition. Its strengths include over 50-years experience in the silk industry, state-of-the-art manufacturing facilities and design studio, wide distribution reach and longstanding relationship with over 225 international clients (over 35 clients having a business relationship across three decades).
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