Nandan Denim reports 30.5% jump in Q2 profit

AHMEDABAD: Nandan Denim Limited (NDL) has reported a net profit of Rs.15.61 crore for the Q2 of FY 2015-16 as against Rs11.95 cr in the corresponding period of 2014-15, a rise of 30.5%. Net sales for second quarter ended September 2015 at Rs.294.53 crore were higher 6.4% over previous fiscal's same quarter net sales of Rs.276.94 crore. The company reported healthy EBITDA and PAT margin in Q2 FY16 at 17.2% and 5.3% respectively. EPS for Q2 FY 16 stood at Rs.3.43 (Face value of Rs. 10 per share).

For the six months ended September 2015, company reported a net profit of Rs.31.11 crore against a net profit of Rs.23.43 crore in the corresponding period last year, growth of 32.8%. Net sales in first half of FY 2015-16 at Rs.575.04 crore were higher by 6.4% compared to Rs.540.63 crore in the first half of previous fiscal. For H1 FY 2015-16, EBITDA margin stood at 16.7% and PAT margin at 5.4%.

Deepak Chiripal, CEO, Nandan Denim Limited said the proposed capacity expansion of Rs.612 crore is expected to be on stream in Q1, FY 17. "The major CAPEX orders have already been finalised and civil activities are in full swing," he said.