Nandan Denim Ltd Q1 net profit up 35 per cent

AHMEDABAD: Nandan Denim Limited (NDL) has reported a net profit of Rs. 15.50 crore for the first quarter of 2015-16 as against Rs 11.47 crore in the corresponding period in 2014-15, a rise of 35%, the company said.

Net sales for Q1 of FY 2015-16 at Rs. 280.50 crore were higher 6% over same period last fiscal. NDL reported healthy EBITDA and PAT margin in Q1 FY16 at 16.5% and 5.5% respectively.

Deepak Chiripal, CEO, Nandan Denim Limited said, “We are investing towards creation of machining and manpower competence to build a brand that would be synonymous with the consistent quality and timeliness of delivery.”

During the quarter, the Company has reported 14% of revenues from export markets. As of now, it exports to 28 countries.

The total expenditure on the proposed capacity expansion of Rs. 612 crore is progressing as per plan. The major CAPEX orders have already been finalised and civil activities are in full swing albeit slow due to monsoon. The company expects to commission complete facilities in