Nandan Denim (NDL) has reported a net profit of Rs 15.50 crores for the first quarter of 2015-16 as against Rs 11.47 crores in the corresponding period in 2014-15, a rise of 35 per cent. Net sales for the quarter at Rs 280.50 crores were higher by 6 per cent over previous fiscal’s same quarter net sales of Rs 263.68 crores. NDL reported healthy EBITDA and PAT margin at 16.5 percent and 5.5 per cent respectively.
The company reported EBITDA of Rs 46.23 crores during the quarter compared to Rs 41.13 crores in the corresponding period last year, an increase of 12 per cent. EPS stood at Rs 3.40. During the quarter, the company reported 14 per cent of revenues from export markets. It exports to 28 countries.
Commenting on the performance, Deepak Chiripal, CEO, Nandan Denim said, “The company is following its well defined charter of growth and we are pleased with the performance so far. A disciplined approach in line with the long term strategy would enable us to further cement our position in the industry.”
NDL, a part of Chiripal Group, is second largest integrated denim fabric company and has one of the largest manufacturing capacities in the world. The company commenced its operations in 1994 with textile trading business and forayed into textile manufacturing in 2004. It currently manufactures denims, cotton fabrics and khakis.
www.chiripalgroup.com
