Shri Lakshmi Cotsyn Ltd. (SLCL), an integrated textile player engaged in manufacturing and processing of a wide range of end-to-end textile products and safety textiles for defence and paramilitary forces, has reported a rise of 40.72 per cent in net profit at Rs. 38.98 crores for the quarter ending March 31, 2012, as compared to the same period last year.
Total revenue for the quarter stood at Rs. 709.95 crores (Rs. 437.48 crores), a rise of 62.28 per cent. EBIDTA margins were 18.04 per cent compared to 15.93 per cent. EPS for the quarter was Rs. 14.66 as compared to Rs. 12.30 the year ago quarter.
For the nine-month period, SLCL clocked a net profit of Rs. 84.14 crores compared to Rs. 76.79 crores in the year ago period, while net sales stood at Rs. 1,700.57 crores (Rs. 1,285.24 crores).
Commenting on the results, Dr. M.P. Agarwal, SLCL Chairman & Managing Director, said the company started commercial production of sheeting, denim and technical textile on March 30, 2012, worth Rs. 992 crores. The revenue growth in the home furnishing, denim and technical textiles segments will be available in the last quarter ending June 2012.
Shri Lakshmi Cotsyn is a technology-driven integrated multi-product and multi-market player engaged in manufacturing and processing of high quality, end-to-end textile products and safety textiles for paramilitary forces and other defence establishments since 1993. The company has seven manufacturing facilities, at Aung, Malwan, Abhaypur and Raahsupur in Fatehpur district (Uttar Pradesh) and at Sonepat (Haryana), Roorkee (Uttrakhand) and Noida.
Its product range covers bed-linen, terry towel, denim and bottom weights, readymade garments, fusible interlinings, 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, tents, haversacks, facelets, protective clothing and casualty bags. It is a market leader in fusible interlining with over 30 per cent market share.
The company offers several product brands such as STAR TRACK (fusible interlining), SVL (zippers), ALISHA (embroidery and lace fabric) and GALAXY (denim trousers, garments and bottom weight fabrics), as well as a new eco-friendly brand WEAVES (home furnishing) to health conscious families. It recently launched a new readymade product range called DYFI, translated as “Do You Fit In”.