Alok Industries’ exemplary performance

Alok Industries Ltd., one of the leading integrated textile companies in India, has reported net sales of Rs. 3,324.77 crores for the quarter ended September 30, 2012, as compared to Rs. 2,197.70 crores in the corresponding period of last fiscal, registering a growth of 51.28 per cent. Export sales for the quarter stood at Rs. 832.97 crores (Rs. 786.9 crores), registering a growth of 8.32 per cent.

EBIDTA for the quarter was at Rs. 88.78 crores (Rs. 744.60 crores), registering a growth of 19.36 per cent. Net profit after tax stood at Rs. 289.62 crores (Rs. 75.61 crores) representing a growth of 283.02 per cent.

Net sales for the six months ended September 30, 2012 stood at Rs. 5,747.52 crores, an increase of 49.84 per cent as compared to Rs. 3,835.89 crores in the corresponding period of last fiscal. Export sales for the period stood at Rs. 1,669.61 crores (Rs. 1,395.28 crores), marking a growth of 19.66 per cent. Net profit after tax soared to Rs. 319.69 crores (Rs. 134.57 crores), registering a growth of 137.58 per cent.

Commenting on the results, Mr. Dilip Jiwrajka, Managing Director, Alok Industries Ltd., said: “The second quarter performance is a reflection of the company’s strategy of diversifying products, markets and customers along with integrated business operations in cotton and polyester segments. The company will continue its focus on improving operational parameters, exiting non-core businesses and monetising them to reduce debt and improving cash flows. The order position as on date is satisfactory and provides a fair indication of the company’s growth prospects. We are not undertaking any new projects barring those that are ancillary to the existing ones and for debottlenecking. Also, the proposed rights issue should restore stability to our balance sheet”.