Home / Knowledge / News / Textiles / Suryalakshmi posts solid Q1 result; plans for power plant

Suryalakshmi posts solid Q1 result; plans for power plant

19
May '10
Suryalakshmi Cotton Mills Limited , one of the major players in the textile industry in South has modern spinning units at Amanagallu in Mahboobnagar District in Andhra Pradesh and a 40 million meter denim plant at Ramtek near Nagpur, Maharashtra. The company's subsidiary Suryakiran International Ltd, located in the outskirts of Hyderabad is into manufacture and export of denim garments.

• Turnover during the year was Rs 417.83 crores with an increase of 16% over that of previous year, which will touch Rs.500 crore in the current year.

• EBIDT margins have grown up from 7.2% in the previous year to 12.3% during the current year.

• Solid fourth quarter PBT of RS 7.93 crores. PAT has improved substantially to Rs. 4.35 crores during the year 2009-10 against the loss of Rs. 15.7 crores in the previous year.

The company is a major player in the denim industry and has recorded an impressive growth in exports during the year. The Company's efforts in building a direct business with leading international brands like V.F CORP., LEVI'S,WALMART,TARGET etc has paid off and its value added and fancy denims continue to be well received in the European and US markets. The demand for denim in the domestic market has also improved.

To further improve the profitability of the denim division, the company is putting up a captive 25 MW Thermal Power Plant at an estimated cost of Rs. 135 crores. The necessary approvals have been obtained and fuel linkage has also been tied up. The necessary financing arrangements are being worked out. The power plant is expected to be commissioned in 2011-12. After meeting the captive requirements of power, the company plans to sell the surplus power.

The Yarn division has also shown good growth. The company proposes to add another 10000 spindles to its yarn division at Amanagallu taking the total spindlage to 60000. The company also proposes to enhance the spinning capacity at Ramtek to improve the profitability and also reduce dependence on outsourcing.

Suryalakshmi Cotton Mills Limited


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 1st Apr 2020

Five more brands not to cancel export orders to Bangladesh

Five more global fashion brands-three European and two North...

Pic: Martin Good / Shutterstock.com

Retail | On 1st Apr 2020

Ralph Lauren commits $10 mn to COVID -19 response efforts

Ralph Lauren Corporation recently committed $10 million to help its...

Pic: Venturelli Luca / Shutterstock.com

Retail | On 1st Apr 2020

H&M to take goods already manufactured, assures suppliers

Swedish retail giant H&M recently assured its garment suppliers of...

Interviews View All

Amardeep Singh, Orient Craft

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Top executives, Textile industry, India

Top executives
Textile industry, India

The event should be organised every year

Pratik Bachkaniwala, Palod Himson Machines

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Tolga Ozkurt,

Tolga Ozkurt

Çalik Denim is among the world's top 10 premium denim manufacturers...

Puneet Jain & Yatin Jain,

Puneet Jain & Yatin Jain

Odhni is an indutva or ethnicwear brand started in 1999 by the Jain...

Iacopo Pardini,

Iacopo Pardini

Founded in 1953, Italian engineering company Arioli Spa started...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Dr. Rene Wollert, Freudenberg Nonwovens

Dr. Rene Wollert
Freudenberg Nonwovens

Dr. Rene Wollert discusses the current scenario of the global nonwovens...

Luis Quijano, Liberty University

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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