Newsline-National | December 2016
4.42% rise in Nandan Denim’s net profit
Nandan Denim Limited (NDL), poised to be Asia’s largest denim fabric manufacturer has reported a net profit of Rs 16.30 crore for Q2 of FY 2016-17 as against Rs 15.61 crore in the corresponding period of 2015-16, a rise of 4.42 per cent. Net Sales for second quarter ended September 2016 at Rs 302.63 crore were higher by 2.75 per cent over previous fiscal’s same quarter Net Sales of Rs 294.53 crore. Company reported healthy EBITDA and PAT margin in Q2 FY17 at 16.23 per cent and 5.38 per cent respectively. EPS for Q2 FY 17 stood at Rs 3.39 (Face value of Rs 10 per share).
For the six months ended September 2016, the company reported a Net Profit of Rs 32.27 crore against a Net Profit of Rs 31.11 crore in the corresponding period last year, growth of 3.73 per cent. Net sales in first half of FY 2016-17 at Rs 603.12 crore were higher by 4.88 per cent compared to Rs. 575.04 crore in the first half of previous fiscal.
Deepak Chiripal, CEO, Nandan Denim Limited said, “We have maintained our growth impetus during the quarter. We will keep striving to capitalise on new opportunities, thus delivering value to our stakeholders.”
Nandan Denim Limited (NDL) is world’s fifth largest integrated denim fabric maker. Headquartered in Ahmedabad, Gujarat, NDL has expanded its capacity from 6 MMPA to the intended capacity of 110 MMPA over the period of last 12 years. Further, company has earmarked a capacity expansion plan to strengthen its domestic market share, expand its exports business and have an increased focus on value-added segments. Post expansion, NDL will become the largest denim manufacturer in Asia and the fourth largest in the world.