Nandan Denim reports 61% rise in PAT of Q3 FY 17-18

Nandan Denim reports 61% rise in PAT of Q3 FY 17-18

86
Nandan

 

India’s largest denim fabric manufacturer, Nandan Denim Limited (NDL), has reported a net profit of Rs. 13.93 crore for the Q3 of FY 2017-18 as against Rs. 8.63 crore in the corresponding period of 2016-17, a rise of 61%. Net sales for third quarter ended December 2017 at Rs. 363.40 crore were higher by 54% over previous fiscal’s same quarter net sales of Rs. 235.22 crore. Company reported healthy EBITDA and PAT margin in Q3 FY17-18 at 16% and 3.83% respectively. EPS for Q3 FY 17-18 stood at Rs. 2.86 (Face value of Rs. 10 per share).

For the nine months ended December 2017, company reported a net profit of Rs. 46.57 crore against a net profit of Rs. 41.03 crore in the corresponding period last year, growth of 14%. Net sales in nine months of FY 2017-18 at Rs. 1202.08 crore were higher by 43% compared to Rs. 838.35 crore in the same period in previous fiscal. For 9 months of FY 2017-18, EBITDA margin stood at 15.51% and PAT margin at 3.87%.

Deepak Chiripal, CEO, Nandan Denim Limited said, “We are pleased with the performance for the quarter as company is able to maintain a good balance between revenue growth and profitability while delivering greater efficiency. The benefits of optimizing business post expansion are beginning to emerge. We expect to get the full realization and synergies of the expansion plans in the next few years and we expect to see better profit margins going forward.”

Company has informed stock exchanges that Mr. Vedprakash Chiripal, Chairman, Nandan Denim Ltd. has bought 2.25 lakh shares of Nandan Denim Ltd. from open market during the quarter Oct – Dec 2017.