|
| Nakoda Textile scores a century in its Q3 PAT |
| Announcement / Corporate Oct 30, 2009, 18:47 IST |
|
Nakoda Textile Industries Ltd., (BSE: 521030), one of India’s largest players in the fully drawn yarn segment, scored a rare century in its Q3 PAT. The PAT for the quarter under review jumped by 100% to Rs. 6.20 cr from Rs. 3.08 cr last year. Net sales during the same quarter rose by 31% to Rs.262.31 cr from Rs. 199.61 cr, YOY.
The EPS for nine months stood at Rs. 9.56 more than last year’s full EPS of Rs. 8.52. Income from the Manufacturing segment rose by 21% to Rs. 108.88 cr from Rs. 89.91 cr for the quarter under consideration. At the same time the PAT jumped to Rs. 7.42cr from Rs. 5.12 cr.
In the trading segment, the sales touched Rs. 153.43 cr from Rs. 109.7 cr, an increase of 39%. The PAT during the period under review increased to Rs. 5.1cr from Rs. 3.3 crs, up 53%
The Wind Mill project of Nakoda Textiles Industries Ltd. is commissioned and has started generating power in Tirunelveli district in Tamilnadu. The project with investment of Rs. 41 crore has nine wind turbines having aggregate capacity of 6.75 MW.
Announcing the results, Mr. Babubhai Jain, Chairman & Managing Director of Nakoda Textile Industries Ltd. said, “As in the game of cricket scoring a century is very important, so it is in business. Our PAT improved 100% over the same time last year. This is due to the prudent business practices and cost control measured adopted by us. We hope to maintain the same in the future”
About Nakoda Textile Industries Ltd.
NTIL ranks among the largest manufacturers of FDY (Fully Drawn Yarn) with an installed capacity of 19,500 MTPA. An ISO 9001-2000 company, Nakoda Textiles Industries Ltd. was incorporated in 1984. Initially it commenced business with a single texturising machine, with a capacity of 354 MT, at Silvassa in Maharashtra. In order to expand capacity, the Company came out with its maiden public issue of fully convertible debentures of Rs. 95 million in 1992. The issue in which 12000 investors participated was oversubscribed 7 times.
NTIL has finalized plans for expansion of its texturising capacity from existing level of 1070 MTPA to 29870 MTPA by September this year.
According to the Research Bureau Finance Express, Nakoda joins the exclusive club of the finest 500 companies based on performance for 2007-08. NTIL’s plant is strategically located at Karanj near Surat. Nakoda caters to the small and medium texturisers. NTIL has a 3 per cent market share in the POY (Partially Oriented Yarn) segment and 20 per cent share in the FDY segment. For further details, log onto www.nakoda.co.in.
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
Content Guide
