One of the leading denim manufacturers in India, Suryalakshmi Cotton Mills Ltd, reported its annual audited profit & revenue numbers with a 5.11 % rise in revenue and a robust 7.28 % jump in the net profit for the year ended on March 31, 2013.
Highlights:
For the Quarter
-Net sales decreased by 9.62 % to Rs.167.42 cr.
- PAT increased by 12.91 % to Rs. 6.16 cr.
For the Year
- Net sales increased by 5.49 % to Rs.705.44 cr.
- PAT increased by 7.28 % to Rs. 30.37 cr.
- Board recommends a dividend of 20%.
For the 4th quarter, while the company saw its net profit touching Rs. 6.16 cr, which is a 12.91 % rise over the net profit of Rs. 5.45 Cr for the corresponding period last year, its net sales decreased by nearly 9.62 per cent to Rs. 167.42 cr in the reporting quarter from Rs. 185.24 Cr for the corresponding quarter last fiscal year.
The Managing Director, Mr. Paritosh Agarwal, Suryalakshmi Cotton Mills Ltd. commenting on the financial performance said, “We are pleased to announce our annual numbers and also overwhelmed by our performance for the year both in terms of sales and profits.
The profit for the quarter has been marginal due to finance cost incurred and depreciation charge with the commencement of our 25-MW captive power plant at our denim division at Ramtek near Nagpur. But the overall numbers for FY13 has been good and we expect a healthy growth in the coming fiscal as well with the power plant's surplus power being sold out.
We thank our shareholders for their continuous support and hope to receive the same in future.”
About Suryalakshmi Cotton Mills Limited
Suryalakshmi Cotton Mills started in the year 1962 by Mr. L.N.Agarwal, with 6,000 spindles to manufacture world class cotton and blended yarns, with a vision and commitment to establish the company as a leading enterprise in the textile industry.
The company has, as a result, grown multifold in just four decades and also established the state of the art denim manufacturing plant having a capacity of 40 million meters per annum. Today Suryalakshmi's yarn and rope dyed denim are acknowledged as high quality products across international markets.
Its ongoing programme of modernization and higher production Capacity has resulted in its denim production multiplying from 10 million meters to 40 million meters per annum, while yarn production capacity has also increased multifold.
