Nandan Exim Ltd. is the second largest integrated denim manufacturing company in India. Its total revenue rose 26 per cent to Rs. 354.35 crores for the half year ended September 30, 2012 compared to Rs. 280.37 crores in the corresponding half of the previous year. Net profit increased by 14 per cent to Rs. 14.60 crores (Rs. 12.79 crores). EBIDTA moved up by 21 per cent to Rs. 54.10 crores (Rs. 44.72 crores).
Commenting on the results, Mr. Vedprakash Chiripal, Chairman, Nandan Exim Ltd., said: “It gives me immense pleasure to state that the company has once again outperformed the Indian textile & denim industry. The company has created its own niche in the Indian market and is continuously tapping the opportunities in export markets also. During HIFY13 the company had an export turnover of Rs. 40 crores and has export orders on hand worth Rs. 50 crores for Q3FY13. With the best practices followed, the company does look forward to contributing significantly to the growth of the Indian economy.”
Further elaborating on the financial performance and the expansion plans announced by the company, the Chairman stated: “We are surging towards becoming one of the leaders in the Indian denim industry in terms of manufacturing value-added products, customer satisfaction and financial performance. The company has already started progressing on the expansion plans of around Rs. 261 crores and the project progress is quite satisfactory.”