Mandhana Industries net jumps 93%, revenue up 28%

For the Quarter

• Net sales increased by 28.10% to Rs. 184.89 cr.
• PAT increased by 92.63% to Rs.16.64 cr.

For the Half Year

• Net sales increased by 31.40% to Rs. 328.71 cr.
• PAT increased by 63.79% to Rs.29.39 cr.

India’s leading manufacturer of multidivisional textile & garment maker, Mandhana Industries Ltd, today reported its quarterly profit & revenue numbers with a 28.10% rise in revenue and a massive 92.63% jump in the net profit for the quarter ended September 30th, 2010

While the company saw its net profit touching Rs. 16.63 cr for 2nd Quarter, which is a Rs. 7.99 cr rise over the corresponding period last year, its net sales increased by nearly 28 per cent to Rs 184.89 crores in the reporting quarter.

The Managing Director, Mr. Manish Mandhana, Mandhana Industries Ltd. commenting on the performance said, “We are seeing a strong demand environment across our industry verticals. Due to this we have gained substantially over the past few months which have helped us expand our revenue and profit base. We expect that the same trend will continue & hope to see a good set of numbers in the next quarter as well. We have been building a sustainable business model on the foundation of vertical integration and strong designing capabilities. The Company is also planning to enter the apparel retail segment through its wholly owned subsidiary company. We have planned this expansion strategically & plan to release it in phases.”

Owing to a rise in polyester yarn & cotton prices on the global front Mr. Mitesh Shah, Vice President, Finance, Mandhana Industries Ltd.  feels “Though there has been some pressure on the operating margins on account of unprecedented rise in cotton and yarn prices, we have still been able to maintain our operating margins primarily by achieving an increase in realizations on our finished fabrics and garments through better product offering.”

About Mandhana Industries Ltd
Mandhana is a Mumbai based multi divisional Textile Company spread over multiple geographical locations. They are engaged in the manufacturing of textiles and garments with a state of art infrastructure. Mandhana’s business includes designing, yarn-designing, yarn dyeing, weaving, processing, dyeing and garment manufacturing. They have planned their infrastructural developments in order to help them integrate vertically & establish themselves as a niche player in the Indian Textile Industry.

Mandhana has long standing relations with overseas & domestic customers. They have a strong global presence supplying to a niche clientele spread across in the European countries mainly Italy, France, Germany, Turkey, Switzerland, Netherlands, UK, Spain, Australia and Isreal.