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Combed cotton supplier Maxwell Industries net sales rise

Jan '07
Maxwell Industries Limited, VIP Group's flagship company, has posted 114.29 percent rise in net profit at Rs. 2.27 crore for the third quarter ended December 31, 2006 as compared to Rs. 1.06 crore in the corresponding quarter previous year. Net sales rose by 10.08 per cent at Rs. 47.93 crore for the third quarter ended December 31, 2006 compared to Rs 43.54 crore during the same quarter previous year.

Meanwhile, the company has posted 66.99 percent rise in net profit to Rs. 6.32 crore for the nine months period ended December 31, 2006 compared to Rs. 3.78 crore in the corresponding period previous year. Net sales increased by 18.73 percent to Rs. 147.40 crore compared to Rs. 124.14 crore during the same period previous year.

Maxwell Industries Limited is the largest branded domestic inner wear manufacturer in the country. The company is promoted by first-generation entrepreneurs L J Reddy and J K Pathare. The company is engaged in production of cotton yarn mainly used in cotton hosiery fabric.

It has an installed capacity of 26,208 spindles with annual capacity of 3200 tonnes per day, VIP group is a completely integrated textile player having spinning & weaving facilities processing house and has also ventured into readymade garments under the bottoms brand Live-in.

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The company also has strong presence in the Indian branded innerwear segment, which are sold under the VIP brand name for men and Lovable, Daisy Dee, Vanity Fair, etc. for women. It has an extensive distribution network of 400 distributors & 4,500 stockists with a nationwide presence in over 1,000 cities and over 2,00,000 retail outlets in India.

Maxwell Industries Limited

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