Profits Before Tax
Nandan Denim reports PAT of Rs.15.97 crore, up 3%
Posted by: Clara Fernandes at 8/10/2016 05:53:00 am
August 10, 2016: Nandan Denim Limited (NDL), poised to be Asia’s largest denim fabric manufacturer has reported a net profit of Rs.15.97 crore for the Q1 FY17 as against Rs.15.50 crore in Q1 FY16, a rise of 3%. Profits before tax rose from Rs 19.84 Crore to Rs 23.46 Crore, registering growth of 18%. Net sales for the period were at Rs.300.39 crore higher by 7% over corresponding net sales of Rs. 280.51 crore. Company reported healthy EBITDA and PAT margin in Q1 FY17 at 16.2% and 5.3% respectively.
Mr. Deepak Chiripal, CEO, Nandan Denim Ltd
The Company is in the middle of expansion project by virtue of which it would emerge as the biggest denim manufacturer in India and perhaps, Asia during the current financial year. In the project, the Company is envisaging building up potential for product and market diversity through backward integration apart from making in-roads into Yarn Dyeing Shirting business while the denim manufacturing competence increase by 55%.
Deepak Chiripal, CEO, Nandan Denim Limited said, “The part of the project that we have commissioned partially has started yielding positive results even while the prices of inputs had been quite volatile. We are already in the process of accomplishing the remaining part of our project and once the same is streamlined, we expect that the Company, with much larger production capacities and product baskets would be optimally placed in competitive market to cater to the larger demand arising from India and overseas markets while securing best of the profitability potential.”
About Nandan Denim Ltd (www.nandandenim.com)
Nandan Denim Limited (NDL) is world’s fifth largest integrated denim fabric maker. Company forayed into textile manufacturing in 2004. Nandan Denim currently engages in manufacturing of denims, cotton fabrics and khakis.
NDL is a part of leading conglomerate, Chiripal Group, established in 1972 and is currently diversified across several businesses like Textiles, Petrochemicals, Chemicals, Packaging, Infrastructure and Education.
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.
The Company has a state-of-the-art manufacturing facility unit near Ahmedabad, Gujarat and exports its denim fabric to over 28 countries. A team of 3,000 passionate & motivated individuals drive Nandan Denim Ltd.