Nandan Denim Limited (NDL), has reported a net profit of INR 16.33 crore for the second quarter ended September 2017 as against net profit Rs. 16.41 crore in the corresponding period of previous year. Net sales for the Q2 FY 18 were at Rs. 414.98 crore higher by 37% over corresponding net sales of Rs. 302.63 crore in the previous year.
Company reported healthy EBITDA and PAT margin in Q2 FY18 at 15.34% and 3.93% respectively. EPS for Q2 FY 18 stood at Rs. 3.35 (Face value of Rs. 10 per share).
For the six months ended September 2017, company reported a net profit of INR 32.64 crore against a net profit of Rs. 32.40 crore in the corresponding period last year. Net sales in first half of FY 2017-18 at INR 838.68 crore were higher by 39% compared to INR 603.12 crore in the first half of previous fiscal. For H1 FY 2017-18, EBITDA margin stood at 14.84% and PAT margin at 3.89%.
Commenting on company’s financial performance, Deepak Chiripal, CEO, Nandan Denim Limited said, “Despite headwinds, performance for the quarter has been satisfactory striking a good balance between revenue growth and delivering greater efficiency. The benefits of optimizing business post expansion are beginning to emerge.”
Company has informed stock exchanges that Vedprakash Chiripal, Chairman, Nandan Denim Ltd. has bought 9.10 lakh shares of Nandan Denim Ltd. from open market during the quarter.
Nandan Denim Limited (NDL) is world’s fourth largest integrated denim fabric maker. Company forayed into textile manufacturing in 2004. Nandan Denim is currently engaged in manufacturing of denim fabric, yarn / dyed yarn, cotton fabrics and shirting fabric.
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 present capacity of 110 MMPA.
Further, Company had 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 has become the largest denim manufacturer in India and the fourth largest in the world. The Company has state-of-the-art manufacturing facility unit at Ahmedabad, Gujarat and exports its denim fabric to over 28 countries. A team of 3,000 passionate and motivated individuals drive Nandan Denim Ltd.