Asia’s largest denim fabric manufacturer Nandan Denim Limited (NDL) has reported a net profit of Rs 15.65 crore for the Q3FY 2015-16 as against Rs 12.63 crore.
For the nine months, ended December 2015, the company reported a net profit of Rs 46.75 crore against a net profit of Rs.36.06 crore in the corresponding period last year, growth of 29.6 per cent.
Deepak Chiripal, CEO, Nandan Denim Limited said, “Denim, despite being a staple fabric has got negligible penetration in the Indian market as compared to economies of similar population, offering huge untapped market opportunities. Post completion of the expansion plans, Nandan Denim Ltd, with much larger production capacities and product baskets would be optimally placed in competitive position to cater to the larger demand arising from India and overseas markets.”
The company reported healthy EBITDA and PAT margins in Q3 FY16 at 16.7 per cent and 5.4 per cent respectively. EPS for Q3 FY16 stood at Rs 3.44 (Face value of Rs 10 per share). The Board of Directors have recommended 8 per cent Interim Dividend for the current Financial Year.
NDL is part of the leading conglomerate, Chiripal Group, established in 1972 and is currently diversified across several businesses like Textiles, Petrochemicals, Chemicals, Packaging, Infrastructure and Education.
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