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KPR Mill delivers steady performance in H1

05
Nov '08
KPR Mill Limited (KPR Mill), one of South India's leading vertically integrated apparel company, announced its results for the quarter and half year ended September 30, 2008.

KPR Mill's distinct operational model has enabled the Company to deliver superior earnings, thus positioning itself as a sustainable “margin leader” in its domain.

The following strategies of the Company ensure implementation of costeffective processes, which further lead to strengthening of operating efficiencies:
o Access to cheap wind energy, which results in reduced costs on fuels along with self-sufficiency in terms of power.

o Unique labour model, which helps in enhancing productivity, as well as to optimise operating costs.

o Purchase of top grade raw material at cheap prices in the peak season which improves production efficiency.

Commenting on the financial results, Mr. P Nataraj, Managing Director, KPR Mill Limited, said: “KPR Mill has delivered a steady performance in the current reporting period. We have tried to mitigate the impact of the concerning environmental factors as much through our cost-effective operating strategy. Integration of our on-going expansion plans would help to further ensure better operational abilities going forward.

Though the industry is at a crossroad because of factors like high cotton prices, slowing growth overseas and acute power shortages, we expect that our strong order book and unique business model would keep us insulated to that extent.”

Q2 FY2009 v/s Q2 FY2008 Performance Overview
During Q2FY2009, Net Sales stood at Rs. 1,777.2 million, up 38% from Rs. 1,285.8 million in Q2FY2008. EBIDTA during the quarter was lower by 25% to Rs. 331.5 million from Rs. 443.3 million in the corresponding quarter last year. Net Profit for Q2FY2009 was at Rs. 54.2 million as against Rs. 206.2 million, resulting in an EPS (Basic) of Rs. 1.44 for Q2FY2009 (Rs. 5.98 in Q2FY2008).

H1 FY2009 v/s H1 FY2008 Performance Overview
During the first half of FY2009, KPR Mill reported a rise in Net Sales by 32% to Rs. 3,456.8 million from Rs. 2,614.7 million last year. EBIDTA stood at Rs. 727.3 million, lower by 13% from Rs. 835.5 million, translating to EBIDTA margins at 20.4% levels for the current half year. PBT in the current half year was reduced by 55.1% at Rs.215.6 million as compared Rs. 480.4 million in the corresponding period last year. Profit after tax was at Rs.173.7 million as against Rs. 370.3 million,translating into an EPS (basic) of Rs. 4.61. The EPS (basic) in the same half last year was Rs. 11.18.

Capex update:
KPR Mill's has successfully completed the Phase I capacity expansion programme during Q4 FY2008 at an outlay of Rs. 5,440.5 million. Phase II of the capacity expansion programme is being undertaken at an outlay of Rs. 1,219 million is progressing as perthe business plan.

KPR Mill is a leading vertically integrated apparel Company, with major interest in manufacturing and marketing readymade knitted garments, knitted fabric and cotton yarn.

For more detial click here.

KPR Cotton Mills Private Limited


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