Thanks to good export, Avinashi (Tamil Nadu)- based SP Apparels Ltd (SPAL), has achieved Rs. 1,000 crore consolidated revenue mark in a fiscal. This is the first time, they have touched this milestone.
The company reported Rs. 1,078 crore for the financial year ended 31st March 2023 which is 25 per cent higher compared to the Rs. 860 crore in fiscal 2021-22.
Though in the same period, the net profit for the fiscal slid 3 per cent to Rs.82 crore, as the same was Rs. 85 crore in the last fiscal.
SPAL has vertical integrated operations and is a leading manufacturer of knitted garments for infants and children. It also has a presence in the Indian retail market with the Crocodile brand.
The boost in export was one of the major reasons for this performance of the company as exports were worth Rs. 960 crore in the last fiscal (2022-23) while the same was Rs. 742 crore in 2021-22.
The net sales stood at Rs 275.16 crore in Q4 of financial year 2022- 2023 which is up 8.38 per cent from Rs. 253.90 crore in same period of fiscal 2021-2022.
