Nandan Exim Limited is the second largest integrated denim manufacturing industry in India said its total revenue rose 26% to Rs.354.35 crore for the half year ended September 30, 2012 compared to RS.280.37 crore in the corresponding half of previous year.
The net profit for half year increased by 14% to Rs.14.60 crore in current year as compared to Rs.12.79 crore in the corresponding period previous year. The EBIDTA increased by 21 % to Rs.54.1 0 crore compared to Rs.44.72 crore in the corresponding half of previous year.
Commenting on the results, Mr Vedprakash Chiripal, Chairman, Nandan Exim Ltd said, ''It gives me immense pleasure to state that the company has once again outperformed in the Indian Textile & Denim Industry. The company has created its own niche in the Indian market and is continuously embarking upon the opportunities in the export markets also. During HIFY13 the company had an export turnover of Rs 40 crore and has export orders on hand worth Rs. 50 crore for Q3FY13. With the best practices followed in the company the company does look forward to contribute significantly to the growth of the Indian economy."
Further elaborating on the financial performance and the expansion plans announced by the company the chairman stated that, "We are surging towards one of the leaders in the Indian denim Industry in terms of manufacturing value added products, customer satisfaction and financial performance. The company has already started progressing on the expansion plans of around Rs. 261 crore and the project progress is quite satisfactory."
Pursuing its ambitious plans of expansion, Chiripal Group laid foundations of an ultra-modern 100% cotton & blended bottomwear fabrics and the most modern & versatile denim manufacturing project called Nandan Exim Limited. Nandan Exim Limited is housed with one of the most sophisticated weaving plants and other facilities to manufacture superior quality gray cotton fabrics, khakhis and denims.
