INDIA: Alok Industries Limited FY08 Net Sales up by 18.34%

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BharatTextile.com » Apparel/Garments News » INDIA: Alok Industries Limited FY08 Net Sales up by 18.34%

Alok Industries Limited, one of the leading integrated textile companies in India, today reported a Net Sales of Rs 724.79 crore for the quarter ended March 31, 2008, a jump of 26.25% as against Rs 574.08 crore posted in the same period of the last fiscal.

Operating Net Profit for the fourth quarter stood at Rs 60.98 crore, a growth of 24.45% as compared to Rs 49.00 crore posted in the same period of last year. The operating margin for Q4 FY08 was at 24.89% as against 23.34% recorded in Q4 FY 07.

Net sales for the year ended March 31, 2008 grew by 18.34% to Rs 2159.25 crore compared to Rs 1824.68 crore in the previous year, while operating net profit for the year ended March 31, 2008 rose by 23.79% to Rs 167.34 crore, as against Rs 135.18 crore posted in the same period of last fiscal. Earnings Per Share (EPS) for FY08 worked out to Rs 11.51 as compared to Rs 9.70 for the same period last fiscal.

Export Sales for the fourth quarter stood at Rs 385.45 crore, a growth of 50.16% as compared to Rs 256.69 crore posted in the same period of last year. The figure of Export Sales for 2007-08 rose by 59.87% to Rs 1025.87 crore as compared to Rs 641.71 crore in 2006-07.

Commenting on the results, Mr. Dilip Jiwrajka, Managing Director, Alok Industries Limited said, “It is indeed a gratifying feeling to have record export growth in a year when the rupee was in an appreciation mode and generally testing conditions had set in towards the latter half of the year. All of which goes to prove that if one has the right size, right product, right quality and right price, then most challenges can be surmounted. We will consolidate operations this year and enhance efficiencies and endeavor to surpass expectations. In the course of last year, we also foot printed the real estate sector and expect to generate reasonable returns from this sector in the current fiscal.”

Alok’s Phase III and IV projects are progressing satisfactorily while its joint venture with the National Textile Corporation for two mills in Mumbai and Aurangabad is making satisfactory headway.

Alok’s real estate ventures are moving smoothly and its financing plans are also nearing completion with its merchant bankers hopeful of clinching a major deal shortly.

About Alok Industries Ltd.:

Established in 1986, Alok Industries Ltd. is amongst the fastest growing vertically integrated textiles solutions provider in India. A diversified manufacturer of world-class home textiles, apparel fabrics, garments and polyester yarns, Alok has capacities of 82.50 mn meters of sheeting fabric and 6700 tons of terry towels for its home textiles business, 105.00 mn meters of apparel width woven fabrics, 67200 tons per annum of knitted fabrics and 22 million pieces per annum of garments. With the commencement of spinning of cotton yarn (32000 tons per annum), Alok has achieved complete integration. The company also has a strong presence in the polyester segment with a capacity of 114000 tons per annum of polyester textured yarn supplanted by 182500 tons per annum of POY and 182500 tons of PET. The company has a blue chip international customer base comprising of world renowned retailers, importers and brands.

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Added: April 29, 2008 (19 days ago) Source: Agencies