Alok Industries Limited, one of the largest vertically integrated textile companies in the country, reported net sales of Rs. 1471.13 crore for the quarter ended 31st March, 2010 as compared to Rs. 908.39 crore in corresponding period of last fiscal, registering a growth of 61.95%. Export Sales for the 4th quarter stood at Rs. 607.60 crore, a growth of 134.35%, as compared to Rs. 259.27 crore posted in the same period of last fiscal.
For Q4FY10 : • Net Sales up by 61.95% at Rs. 1471.13 crore; • Operating EBIDTA increased by 67.29% to Rs. 429.80 crore • Operating PAT up by 33.91% at Rs 95.33 crore
For FY10 : • Net sales for the year was at Rs. 4314.67 crore, up by 44.94%; • Operating EBIDTA was at Rs. 1261.33 crore, a growth of 53.33%; • Operating PAT at Rs. 242.45 crore, registering a growth of 28.71%;
Operating Net Profit for the fourth quarter stood at Rs. 95.33 crore, a growth of 33.91% as compared to Rs. 71.19 crore posted in the same period of the last fiscal.
Net sales for FY10 grew by 44.94% to Rs. 4314.67 crore, as compared to Rs. 2976.93 crore in the corresponding period of last fiscal. Export Sales for the year ended 31st March, 2010 stood at Rs. 1560.48 crore, registering a growth of 47.98% as compared to Rs. 1054.50 crore in the corresponding period of last fiscal.
Operating Net profit for FY10 stood at Rs. 242.45 crore, as compared to Rs. 188.37 crore in the corresponding period of the last fiscal, registering a growth of 28.71%. The operating margin for the full year stood at 29.23% as against 27.63% in corresponding period of last fiscal.
Commenting on the results, Mr. Ashok Jiwrajka, Executive Chairman Director, Alok Industries Limited said, “It is indeed heartening to note the growth across the company, especially on the export front. This is a clear indication of the global economic recovery with major retailers significantly altering their buying patterns, through consolidation of their vendors. We are fully geared across the value chain, right from product development and sampling to first-time right delivery of the finished merchandise and strategically positioned to capitalize on the imminent opportunity. We will continue efforts towards optimizing efficiencies, building value propositions and enhancing customer satisfaction”
Major Developments: • In March 2010, the company successfully raised Rs 425 crore through placement of shares with Qualified Institutional Buyers. • Alok Industries Ltd. along with DyStar India Private Limited is jointly setting up an „Advanced Academy for Development of Textile Technologists (AADTT)?, an unparalleled knowledge based training platform to facilitate skill development in the textile industry. • Update on Realty: The company has mandated a leading real estate marketing agent to sell Peninsula Business Park (Commercial) and Ashford Centre (Commercial). Bookings for Ashford Royale (Nahur-Residential) are expected to open by end May 2010.