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Hyderabad-based spun yarns producer posts results for FY 2006-07

Apr '07
Priyadarshini Spinning Mills Limited a leading manufacturer in cotton and synthetic yarn announced its audited financial results for the quarter ended and year ended March 31, 2007.

For FY 2006-07, PSML reported revenues of Rs.186 crore posting a growth of 27% over FY 2005-06. PSML's net profit after tax for the fiscal stood at Rs.235 lakhs against Rs.211 lakhs up by 11% from last year.

Key Performance Highlights: PSML
FY 2006-07 Vs. FY 2005-06
• Net revenues grew by 27% to Rs. 186 crores as against Rs.146 crores
• Net profits higher by 15%, at Rs.456 lakhs compared to Rs.395 crores.
• Net Profit after tax up 11%, at Rs.235 lakhs as compared to Rs.211 lakhs.

Quarter 4 FY 2006-07 Vs. Quarter 3 FY 2006-07
• Net Revenues higher by 21% sequentially, at Rs.54 crores as against Rs.45 crores

Quarter 4 FY 2006-07 Vs. Quarter 4 FY 2005-06
•Growth of 46% in operating revenues, at Rs.54 crores as against Rs.37 crores.

Commenting on the fourth quarter and year ended results Mr Harish Cherukuri, Managing Director PSM said, “Last year we had revenues of Rs.6.40 crores and profit of Rs.2.10 crores before taxes from our gas based power generation units. This year that has been shut down due to lack of gas. So, the improvement in the operations of the core business activity of the company is better than what it seems”.

Priyadarshini Spinning Mills Ltd is a Hyderabad based, Bombay Stock Exchange listed company. Priyadarshini has a capacity of 82,000 spindles. The company is well established in 100% cotton and synthetic blended spun yarns.

The product mix mainly consists of Polyester/Viscose blended grey yarn, 100% Cotton grey yarn, 100% Cotton yarn dyed, Polyester/Viscose blended fibre dyed yarn. The company is ISO 9001 certified and has the status of an Export House. Priyadarshini clocked a turnover of Rs 186 Cr in the year 2006-07.

Click here to view unaudited results:

Priyadarshini Spinning Mills Limited

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