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Q1: an improved opening for Vardhman
12 Aug '09
2 min read
Vardhman Textiles Ltd, a major integrated textile producer in India manufacturing and marketing yarns, fabrics, sewing threads, fibre and alloy steel, has declared its quarter one financial results early this month.
The results reflect improvement. Speaking to News team at Fibre2fashion, offering his stance on the performance of his company in the fiscal 2009-10 start, the CFO of Vardhman, Mr Rajeev Thapar said, “The first quarter results of Vardhman reflects improvement due to better realization in yarn segment because of increase in raw material prices and demand supply situation” Due to this, rise can also be seen in operating profit margins by nearly 4% this Q1FY10, according to Mr Thapar.
Netsales of the company show growth trend by 10% increase when compared to last year same quarter. Explaining reasons for this, he added, “Overall, sale of yarn and Fabric has increased compared to Q1FY09 and is also the full impact of new plants which was not there last year in same quarter. Better sale realization and higher production has helped in growth of sales in textiles division.”
When inquired, if the economy is slowly recovering? Mr Thapar skeptically replied, “To some extent it may be, but sustainability is still in doubt you see!” He also showed disappointment with the union budget by commenting, “We just don't find any tangible benefit coming out of the budget but the things are other way round.”
At leave-taking, our team also asked Mr Thapar about his company's strategic plans for the year through. “Vardhman has entered into a joint venture with a Japanese company for manufacture of shirts in India, and the said project may come up towards the end of this fiscal or early next year,” he shared candidly.
Click here to view Q1 June2009.
The results reflect improvement. Speaking to News team at Fibre2fashion, offering his stance on the performance of his company in the fiscal 2009-10 start, the CFO of Vardhman, Mr Rajeev Thapar said, “The first quarter results of Vardhman reflects improvement due to better realization in yarn segment because of increase in raw material prices and demand supply situation” Due to this, rise can also be seen in operating profit margins by nearly 4% this Q1FY10, according to Mr Thapar.
Netsales of the company show growth trend by 10% increase when compared to last year same quarter. Explaining reasons for this, he added, “Overall, sale of yarn and Fabric has increased compared to Q1FY09 and is also the full impact of new plants which was not there last year in same quarter. Better sale realization and higher production has helped in growth of sales in textiles division.”
When inquired, if the economy is slowly recovering? Mr Thapar skeptically replied, “To some extent it may be, but sustainability is still in doubt you see!” He also showed disappointment with the union budget by commenting, “We just don't find any tangible benefit coming out of the budget but the things are other way round.”
At leave-taking, our team also asked Mr Thapar about his company's strategic plans for the year through. “Vardhman has entered into a joint venture with a Japanese company for manufacture of shirts in India, and the said project may come up towards the end of this fiscal or early next year,” he shared candidly.
Click here to view Q1 June2009.
Vardhman Textiles Ltd
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