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Net sales rise at Banswara Syntex

03
Nov '09
Banswara Syntex Limited(BSL), a vertically integrated textile company, has announced an 11.40 per cent rise in Net Sales at Rs 157.36 crore for second quarter ended September 30, 2009,compared to Rs 141.27 crore in the corresponding period last year.

The net sales for Q2FY10 include Export Sales of Rs. 99.35 crore (which constitutes 63% of Net Sales for Q2FY10). The company has reported Net Profit of Rs 7.44 crore compared to loss of Rs 0.23 crore in the corresponding quarter ended September 30, 2008.

Operating Profit i.e. Profit before Interest and Depreciation has been Rs 24.66 crore for the quarter ended September 30, 2009 compared to Rs 16.15 crore in the corresponding period last year.

Half Year Performance
For the half-year ended September 30, 2009, the company has posted a 13.50 per cent rise in Net Sales at Rs 307.26 crore compared to Rs 270.72 crore in the corresponding period last year. Net Profit during this period has increased to Rs 13.86 crore from mere Rs 0.09 crore in the corresponding period last year ended September 30, 2008.

Commenting on the performance of the company, Mr R L Toshniwal, Chairman and Managing Director said, “Going forward we expect a rise in the operating margins by increasing the sales of specialty technical fabric and garment business”.

Banswara Syntex Ltd.(BSL) is a vertically integrated textile player engaged in the manufacture of man-made synthetic, blended yarn, wool and wool mixed yarn, all types of suiting and jacquard furnishing fabrics, besides production of trousers, jackets and made-ups. The current installed capacity of its plant at Banswara (Rajasthan) is 1,19,188 Ring Spindles, 14,400 Spindles for Worsted Yarn, 576 Air Jet Spindles, 194 Shuttles-less Looms, 12 Jacquard Looms, Fabric Processing capacity of 4million meters/month besides 12,500 pcs/month of Jacquard made-ups. The company also has monthly Readymade Garment production capacity for 2,25,000 trousers and 10,000 Jackets at Daman and Surat. The company also has an 18MW coal-based Thermal Power plant. BSL exports its products to more than 50 countries including US, UK, Canada, Spain, Germany, Italy, France, Philippines, Turkey, and GCC countries.

Banswara Syntex Ltd


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