Suitings & shirtings major SKNL sees 26% growth

11 May '06

3 min read

Diversified textile firm S.kumars Nationwide Limited (SKNL) announced its results for the quarter ended 31st march, 2006. In the Q4 again, SKNL continued its remarkable performance that has been its hallmark in the past 3 quarters as well.

The company recorded a 26.31% growth over the corresponding period last year with a turnover of Rs 247.89 cr. (as compared to Rs 196.2 cr. in Q4 FY 04-05). The operating profits for the quarter grew by huge 118% over the corresponding period last year (Rs 51.23 cr from 23.41cr in Q4FY 04-05). The Profit after Tax for the quarter stands at 35.44cr.

For the FY 05-06 the company recorded a turnover of Rs 889.73 cr against a corresponding 6 months figure of Rs 344.53 cr indicating an increase of 29.1%, Operating Profits rose by 124% from Rs33.92 cr to 152.46 cr. Profit after tax rose by a whopping 445.2% to Rs 99.77 cr as against 9.15 cr for FY 04-05.

Speaking on the occasion Vice Chairman and Managing Director Mr. Nitin Kasliwal said “The continued good performance reflects the inherent strength of the company today."

"It is line with our corporate vision of clothiers to the nation Today…The world tomorrow”. What is even more encouraging is the fact that all four quarters of the 05-06 have been growth oriented.

Managing Director, Mr. Nitin Kasliwal says “the result reflects our commitment towards consistent growth commensurate with better quality product and value enhancement for our stake holder; the margins have improved owing to realignment of our business strategy. Looking ahead, SKNL was able to plan and put in place a lot of new initiatives, the impact of which will be visible during FY 06-07.”

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