Nandan Denim Limited (NDL) – one of the leading integrated denim fabric manufacturers of India – noted 30.5 per cent (Rs. 15.61 crore against Rs. 11.95 crore last year) rise in Net Profit for the second fiscal quarter that ended on September 30, 2015. Net Sales in the period under review were of Rs. 294.53 crore up 6.4 per cent as against prior year’s sales of Rs. 276.94 crore.
In six months to September 30, 2015, the manufacturer registered a Net Profit of Rs. 31.11 crore, up 32.8 per cent compared to Rs. 23.43 crore in the corresponding period last year. Net Sales in the same period amounted to Rs. 575.04 crore against Rs. 540.63 crore last year at Nandan Denim.
Scroll here to read – Nandan Denim revenue up 22.7 per cent
Deepak Chiripal, CEO of the company averred, “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.”
Also, Nandan Denim reported EBITDA and profit after tax margin at 17.2 per cent and 5.3 per cent, respectively, in the period under review.
Also Read – Nandan Denim to join top 5 denim players
On expansion front, the company is making significant developments on the proposed capacity expansion of Rs. 612 crore, which is assumed to be functional in the first quarter of Fiscal Year 2017. Post expansion, Nandan Denim is touted to become the largest denim manufacturer in the country and the fourth largest in the world.
