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Nandan’s Q1 net profit up 3 per cent

Ahmedabad-based Chiripal group company Nandan Denim’s net profit for the first quarter ended June 2016 is Rs 15.97 crores as against Rs 15.50 crores for the corresponding quarter a year ago, a rise of three per cent. The company's net sales for the period stood at Rs 300.39 crores, a rise of seven per cent over corresponding net sales of Rs 280.51 crores last year. Nandan started in 2004 has a capacity for 120 million meters a year.

Nandan makes products from three ounce to 15 ounce. It has backward integration of spinning and fancy attachments. It has economies of scope and scale. It gets value addition from fabrics. Its response time is fast. Plans are on to shift from being a denim manufacturer to a fashion driven brand. The aim is to have growth with value. The group turnover last year was Rs 2500 crores and Nandan’s share was Rs 1200 crores.

The company expects with much larger production capacities and product baskets it would be optimally placed in competitive markets to cater to the larger demand arising from India and overseas markets.

 
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