- Income from operations up 28% to Rs. 251.10 crores,
- 6 month Net up 26% to Rs. 488.27 crores, PAT up 40% to Rs. 9.66 crores.
Nakoda Textile Industries Ltd., (BSE: 521030), one of India’s largest players in the fully drawn yarn segment, posted substantial hike in net sales for the second quarter of the present fiscal.
Income from Operations for the quarter ended June 30, 2009 stands at Rs. 251.10 crores, an increase of 28%, as against Rs. 195.57 crores in the last fiscal. PAT rose 56% to Rs. 5.57 crores from Rs. 3.57 crores during the same period. Net Income for the half year ended 30.06.2009 stands at Rs. 488.27 crores, up from Rs. 386.32 crores YoY. PAT for the period rose by 40% to Rs. 9.66 crores from Rs. 6.89 crores last year.
Nakoda has formed a subsidiary company (SPV) in Korea for engaging in trading, manufacturing, and import-export of POY(Partially Oriented Yarn), chips and yarn.
Announcing the results, Mr. Babubhai Jain, Chairman & Managing Director of Nakoda Textiles Ltd. said, “We are quite pleased with our current results, and going forward, on the back of cap-ex and backward integration, we hope to maintain the robust trend in the coming quarters as well.”
About Nakoda Textile Industries Ltd.
NTIL ranks among the largest manufacturers of FDY (Fully Drawn Yarn) with an installed capacity of 19,500 MTPA. An ISO 9001-2000 company, Nakoda Textiles Industries Ltd. was incorporated in 1984. Initially it commenced business with a single texturising machine, with a capacity of 354 MT, at Silvassa. In order to expand capacity, the Company came out with its maiden public issue of fully convertible debentures of Rs. 95 million in 1992. The issue in which 12000 investors participated was oversubscrided 7 times.
NTIL has finalized plans for expansion of its texturising capacity from existing level of 1070 MTPA to 29870 MTPA by September this year.
According to the Research Bureau of Financial Express, Nakoda joins the exclusive club of the finest 500 companies based on performance for 2007-08. NTIL’s plant is strategically located at Karanj near Surat. Nakoda caters to the small and medium texturisers. NTIL has a 3 per cent market share in the POY (Partially Oriented Yarn) segment and 20 per cent share in the FDY segment. For further details, log onto www.nakoda.co.in.