For the Quarter
- Net sales increased by 57.88 % to Rs 294.49 cr.
- PAT increased by 17.73 % to Rs 17.47 cr.
For the Year
- Net sales increased by 33.96 % to Rs 838.29 cr.
- PAT increased by 53.80 % to Rs 66.75 cr.
India’s leading manufacturer of multidivisional textile & garment maker, Mandhana Industries Ltd, today reported its annual audited profit & revenue numbers with a 33.96% rise in revenue and a robust 53.80% jump in the net profit for the year ended on March 31, 2011.
For the 4th quarter, while the company saw its net profit touching Rs 17.47 cr, which is a 17.73 % rise over the net profit of Rs. 14.84 Cr for the corresponding period last year, its net sales increased by nearly 57.88 per cent to Rs 294.49 cr in the reporting quarter from Rs 186.53 Cr for the corresponding quarter last fiscal year.
The Managing Director, Mr. Manish Mandhana, Mandhana Industries Ltd. commenting on the financial performance said, “We are delighted that we have exceeded the targets set for ourselves for the year both in terms of sales and profits. Though the last quarter has seen declines in operating and net margins on back of volatile raw material prices and negative non-operating incomes, the annual sales and profits have both grown substantially over the previous financial year. The expanded weaving capacities became operational towards the end of the financial year. With the new garmenting capacities at Tarapur and Baramati becoming operational in phases in the next financial year and also with ‘Being Human’ retail stores rolling out by the end of calendar year, we are well poised to take a further leap in the ensuing year.”
Commenting on the challenges on the business front, Mr. Mitesh Shah - Vice President, Finance & Corporate Affairs, Mandhana Industries Ltd. feels “The yarn prices continue to be highly volatile thereby affecting the stability of our existing operating margins. We have been partially successful in balancing the margins through achieving higher sales realisations with our cutting edge in designing coupled with wide product offerings both in fabrics and garments. We have also evolved a better mechanism to systematically hedge our foreign currency exposures and have been successful in managing the volatility in foreign exchange rates to our advantage. For the subsequent periods, our endeavor shall be to improve the operating margins through efficient and economical procurement practices. “
About Mandhana Industries Ltd
Mandhana is a Mumbai based multi divisional Textile Company spread over multiple geographical locations. They are engaged in the manufacturing of textiles and garments with a state of art infrastructure. Mandhana’s business includes designing, yarn-designing, yarn dyeing, weaving, processing, dyeing and garment manufacturing. They have planned their infrastructural developments in order to help them integrate vertically & establish themselves as a niche player in the Indian Textile Industry.
Mandhana has long standing relations with overseas & domestic customers. They have a strong global presence supplying to a niche clientele spread across in the European countries mainly Italy, France, Germany, Turkey, Switzerland, Netherlands, UK, Spain, Australia and Israel.
