Dr. M.P. Agarwal, Chairman-cum-Managing Director, Shri Lakshmi Cotsyn Ltd. (SLCL), has said the Rs. 992-crore expansion plan of the company, which includes expansion in the technical textile, denim and sheeting project, is scheduled to be completed in March.
Addressing the company AGM, Dr. Agarwal disclosed that the net sales of the company in 2010-11 increased by 17.12 per cent at Rs. 1798.38 crores as compared to Rs. 1535.48 crores in 2009-10. The net profit rose 13.60 per cent to Rs. 104.11 crores (Rs. 91.64 crores). Earnings per share increased to Rs. 49.35 from Rs. 45.90.
Dollar appreciation benefited the company during the period, resulting in a 137.08 per cent jump in its export turnover, from Rs. 95.63 crores to Rs. 226.72 crore.
SLCL has announced a dividend of 30 per cent, i.e., Rs. 3 per share.
SLCL is an integrated textile player engaged in manufacturing and processing a wide range of textile products and technical textiles for the defence sector. It has seven manufacturing facilities, in Aung, Malwan, Rewari Bujurg and Abhaypur in Fatehpur district of Uttar Pradesh, Sonepat (Haryana), Roorkee (Uttarakhand) and Noida. Its product range includes bed-linen, terry towel, denim and bottom weights, readymade garments, fusible interlinings, and embroidered fabrics and zippers. It services large institutional clients with a range of uniform fabrics, ballistics, 360 degree protected armoured vehicles, fabricated equipments such as sleeping bags and tents and fabrics like haversacks, facelets, and protective clothing and casualty bags.
SLCL is a market leader in fusible interlining with over 35 per cent market share. Its product range is spread across several brands such as “STAR TRACK” (fusible interlining), “SVL” (zippers), “ALISHA” (embroidery and lace fabric), “GALAXY” (denim trousers, garments and bottom weight fabrics), “WEAVES” (home furnishing) and now the “DYFI” brand for readymade garments.