Nandan Denim has reported a net profit of Rs 63.32 crores for the FY 2015-16 as against Rs 51.43 crores in FY 2014-15, a rise of 23 per cent. Net sales for FY 2015-16 at Rs 1,156.72 crores were higher by five percent. over the previous fiscal’s net sales.
The company reported a healthy EBITDA and PAT margin in FY 16 at 16.9 per cent and 5.5 per cent respectively. Basic EPS for FY 16 stood at Rs 13.90.
Nandan Denim is poised to be Asia’s largest denim fabric manufacturer.
For the quarter ended March 2016, the company reported a net profit of Rs 16.57 crores against a net profit of Rs 15.37 crores in the corresponding period last year, a growth of eight per cent. Net sales in the quarter at Rs 294.31 crores were higher by six per cent compared to Rs 278.31 crores in the same period in the previous fiscal. For the quarter, EBITDA margin stood at 16.5 per cent and PAT margin at 5.6 per cent.
The company had made a preferential placement of 25,00,000 convertible warrants at a conversion price of Rs 200 each. The entire money of Rs 50 crores has been received and equivalent numbers of equity shares have been allotted to the investor.
