Suryalata Spinning Mills posts a hike of 239% to Rs 401 lakhs in Q2 PAT

Hyderabad based and listed on the BSE, Suryalata Spinning Mills Limited (SLSML) one of the largest producers of Yarn, manufacturing 100% Polyester and 100% Viscose yarn of counts ranging from 20s to 60s as well as Polyester / Viscose blended yarns

Suryalata’s Net Revenue has increased by 34% when compared with corresponding quarter of the previous year, from Rs 4352 lakhs for the quarter ended September 30, 2009 to Rs. 5823 lakhs for the quarter ended September 30, 2010. Net Revenue has increased 11% when compared with the last quarter of current financial year, from Rs 5235 lakhs for the quarter ended June 30, 2010 to Rs 5823 lakhs for the quarter ended September 30, 2010.

Commenting on the results, Mr. Mahendra Kumar Agarwal, JMD said, “The company has managed to put a good show in the current quarter. With the plans of capacity expansion in couple of years the future looks bright. We thank our investors for the continuous support and faith shown on us.”

Turning out an impressive show for the quarter ended September, 2010 the Company has reported a PAT of Rs. 7.55 crores on a turnover of Rs. 110.58 crores showing an EPS of Rs. 23.10 for the 1st half.

Highlights

Quarter ended 30.09.2010 (Rs. Lac.) Quarter ended 30.09.2009 (Rs. Lac.) Growth %
Sales 5823 4352 34
Profit after tax 401 118 239
Earning Per Share 12.25 3.61 239

The turnover has gone up by 34% whereas the EBIDTA has gone up by 84% over the corresponding quarter in the previous year. The EPS at Rs. 12.25 for the quarter is up from Rs. 3.61 from the same quarter in the last year. The results from the spinning segments have shown significant rise and the Company expects to do better in the future.

About Suryalata Spinning Mills Limited.
Hyderabad based and listed on the BSE, Suryalata Spinning Mills Limited (SLSML) was established in 1983 and is one of the largest producers of Yarn, manufacturing 100% Polyester and 100% Viscose yarn of counts ranging from 20s to 60s as well as Polyester / Viscose blended yarns. The promoters of SLSML are veterans in the textile business and they carry a vast knowledge & experience of over 50 years in the Textile Industry. 

The Company has two manufacturing units located at Kalwakurthy and Urkondapet in the district of Mahbubnagar Andhra Pradesh, which is about 100 kms from Hyderabad. The Kalwakurthy unit is spread over 34 acres of land has an installed capacity of 36288 spindled whereas the Urkondapet unit is spread over 60 acres of land having a manufacturing capacity of 35136 spindles making a total of 71424 spindles as a whole.

The Company provides world-class quality yarn at a competitive price to cater to the domestic as well as international markets. It has over the years built and maintained long-term relationship with customers on account of its excellent service thereby ensuring steady performance year on year. Besides having a wide spread domestic presence, the Company also has developed a good market network overseas and presently exports its products to various countries viz. Brazil, Argentina, Iran, Italy, Spain, Portugal, UK, Turkey, Taiwan, and Latin American Countries.