India’s largest denim fabric manufacturer, Nandan Denim Limited (NDL), has reported a net profit of Rs. 13.93 cr for the Q3 of FY 2017-18 as against Rs. 8.63 cr in the corresponding period of 2016-17, a rise of 61 per cent. Net sales for third quarter ended December 2017 at Rs. 363.40 cr were higher by 54 per cent over previous fiscal’s same quarter net sales of Rs. 235.22 cr. Company reported healthy EBITDA and PAT margin in Q3 FY17-18 at 16 per cent and 3.83 per cent respectively. EPS for Q3 FY 17-18 stood at Rs. 2.86 (Face value of `10 per share).
For the nine months ended December 2017, company reported a net profit of Rs. 46.57 cr against a net profit of Rs. 41.03 cr in the corresponding period last year, growth of 14 per cent. Net sales in nine months of FY 2017-18 at Rs. 1202.08 cr were higher by 43 per cent compared to Rs. 838.35 cr in the same period in previous fiscal. For 9 months of FY 2017-18, EBITDA margin stood at 15.51 per cent and PAT margin at 3.87 per cent.
Deepak Chiripal, CEO, Nandan Denim Limited said, “We are pleased with the performance for the quarter as company is able to maintain a good balance between revenue growth and profitability while delivering greater efficiency. The benefits of optimising business post expansion are beginning to emerge. We expect to get the full realisation and synergies of the expansion plans in the next few years and we expect to see better profit margins going forward.”
Company has informed stock exchanges that Vedprakash Chiripal, Chairman, Nandan Denim Ltd. has bought 2.25 lakh shares of Nandan Denim Ltd. from open market during the quarter Oct – Dec 2017.