Home / Knowledge / News / Textiles / ABNL turns positive at consolidated net profit level

ABNL turns positive at consolidated net profit level

12
May '10
Aditya Birla Nuvo Ltd (ABNL), part of the Aditya Birla Group, India's first truly multinational group released financial result for the year ended 31 March 2010.

• Consolidated net sales crossed Rs. 15,000 crore mark (approx. USD 3.5 billion)
• Achieved highest ever consolidated EBITDA and cash profit
• Turned positive at consolidated net profit level

Aditya Birla Nuvo's earnings growth was driven by improved profitability in the manufacturing businesses coupled with reduced losses in the life insurance, IT- ITeS and garments businesses. Led by improved earnings and equity infusion by promoters, the balance sheet has been strengthened.

Garments: Revenues grew by 12% to Rs. 1,251 crore spurred by a 15% growth in sales from the retail channel. EBITDA stood at Rs. 7 crore compared to a loss of Rs. 154 crore in the previous year. Higher sales along with cost optimisation and rightsizing measures supported the turnaround.

Manufacturing businesses have collectively posted their highest ever EBITDA at Rs. 748 crore vis-à-vis Rs. 578 crore in the previous year. The operating margin at 20.1% and return on average capital employed at 27.1% has been encouraging. The carbon black, rayon and textiles businesses were the major contributors to the earnings growth.

The greenfield carbon black capacity expansion at Patalganga is targeted to commence production by the end of May 2010. This will increase the total carbon black manufacturing capacity to 3,15,000 metric tonnes per annum (MTPA). The company is planning to augment its capacity further by 85,000 MTPA each at Patalganga in second phase as well as in southern India.

To sum up, financial services business not only piloted the revenues growth but also led the year-on-year profit walk. The garments and IT- ITeS businesses moved closer towards profitability while the manufacturing businesses achieved highest ever earnings.

Management Comments
Commenting on the results, Dr. Rakesh Jain, MD, Aditya Birla Nuvo, said, “ABNL is uniquely positioned to incubate grow th businesses profitably and adding significant value to the customers through diversified services and products.”

Mr. Sushil Agarwal, CFO, Aditya Birla Nuvo, emphasised , “Our thrust on profitable growth across the businesses has led to a turnaround of about Rs. 600 crore at the bottom-line. We remain confident of creating value for all the stakeholders by capturing growth potential in all our businesses.”

Vision
To become a premium conglomerate with market leadership across businesses, delivering superior value to shareholders on a sustained basis.

Aditya Birla Nuvo Ltd


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 30th Mar 2020

Cambodian garment workers face layoffs due to COVID-19

Thousands of Cambodian garment workers have lost their jobs as global ...

Pic: Shutterstock

Textiles | On 28th Mar 2020

Worldwide lockdowns, stimulus shots, raised PPE production

The global response this week to the unfolding COVID-19 crisis saw...

Pic: Samsung

Textiles | On 30th Mar 2020

Samsung, Kvadrat introduce eco-friendly accessories

Samsung in partnership with Danish textile brand Kvadrat, has...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala, Jansun

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Arvind Saraf, Triveni Sarees

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Hannah Lane, Redress

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Kamal Kulshreshth,

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Xavier Martinez,

Xavier Martinez

CADT Software & Drafting was founded in Spain in 1987 by Josep...

Hans Gerhard Wroblowski,

Hans Gerhard Wroblowski

Germany's Monforts is a leading manufacturer and exporter of textile...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eric Scholler, Groz-Beckert

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


March 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search