Nandan Denim reports net profit of Rs 16.31 cr in Q1 FY18

Integrated denim fabric maker, Nandan Denim Ltd (NDL) has reported net profit of Rs 16.31 crore for the June quarter as against Rs 15.98 crore in the corresponding period of previous year, a rise of 2.06 per cent.
Net sales for the Q1 FY 18 were at Rs 423.70 crore higher by 41 per cent over corresponding net sales of Rs 300.50 crore. The company reported EBITDA and PAT margin in Q1 FY18 at 14.44 per cent and 3.84 per cent respectively, a company statement said.
The company has successfully completed the capacity expansion plan and expect to get the full realisation and synergies of the expansion in the current fiscal, it said.

"Post expansion, the company has become India's largest denim fabric manufacturer with installed capacity of 110 million meter per annum. Spinning capacity is increased to 141 tonnes per day and in addition, the company has created yarn dyed shirting capacity of 10 MMPA," said Nandan Denim CEO Deepak Chiripal.
The company has informed stock exchanges that Vedprakash Chiripal, chairman has bought 4.30 lakh shares of the company from open market during June and July 2017. Pledge by promoter group is reduced to 10 lakh shares from 1.34 crore pledge shares in December 2016, it said.