(Rs. In Cr.)
November 15, 2016: 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%. Net Sales for second quarter ended September 2016 at Rs. 302.63 crore were higher by 2.75% 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% and 5.38% 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, 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%. Net sales in first half of FY 2016-17 at Rs. 603.12 crore were higher by 4.88% compared to Rs. 575.04 crore in the first half of previous fiscal. For H1 FY 2016-17, EBITDA margin stood at 16.21% and PAT margin at 5.35%.
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.”
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, 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.