K P R Mill rallies after Q2 results, expansion plans

K P R Mill surged 9.35% to Rs 740 after consolidated net profit rose 3.1% to Rs 112.54 crore on 19.4% increase in net sales to Rs 905.85 crore in Q2 September 2020 over Q2 September 2019.

Consolidated profit before tax (PBT) jumped 12.5% to Rs 153.23 crore in Q2 September 2020 as against Rs 136.25 crore in Q2 September 2019. Current tax expense for the quarter soared 44.4% to Rs 41.30 crore as against Rs 28.60 crore in Q2 September 2019. The Q2 result was declared post market hours yesterday, 27 October 2020.

Consolidated Q2 FY21 EBITDA was at Rs 199.02 crore. Garments production stood at 26.08 million during the quarter.

In order to cater to the growing market demand and towards stepping up of efforts tapping the potential markets, K.P.R. Mill is venturing into expansion of its garment segment by establishing a new garment factory with 42 million garments per annum at an estimated project cost of Rs 250 crore. The factory is coming up near Coimbatore (Tamil Nadu), within the proximity of existing facilities so as to avail the benefits of integrated activities.

K P R Mill is an apparel manufacturing company, which is engaged in the business of producing yarn, knitted fabric, readymade garments and wind power. The company operates in domestic and export segments geographically. The firm is engaged in producing white crystal sugar. It has production facilities in Tamil Nadu.

The scrip hit a 52-week high of Rs 782.95 today. The scrip has zoomed 133.51% from its 52-week low of Rs 316.90 hit on 3 April 2020.

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