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Nandan Denim announces 9MFY19 results

Posted On: 2019-02-12 11:55:08

Nandan Denim Limited has announced the financial results for the period ended December 31, 2018.

9M FY19 Performance Highlights

- During 9M FY18, the company has reported an operating revenue of Rs. 10,675 Mn Vs Rs. 12,021 Mn in corresponding period of previous financial year.

- Denim capacity utilisation for 9M FY19 stood at 63% in line with industry and realisation at Rs 122/meter.

- 9M FY19, Gross Margin stood at 30.2%, declined by 199 bps due to lower sale realisation and relatively higher price of key raw materials such cotton, power (higher coal price) etc.

- Employee Expenses and other operating expenses marginally increased by 3.2% and 3.3% respectively in 9M FY19.

- During 9M FY19, the company reported an EBITDA of Rs. 1,138 Mn and EBITDA margin of 10.7%. As the industry is facing temporary oversupply, aggression in pricing and higher credit period, which have impacted the volumes, realisation and profitability of the company as well as denim industry.

- Net Finance cost declined by 52.8% from Rs. 430 Mn in 9M FY18 to Rs. 203 Mn in 9M FY19. As the company booked a subsidy income on interest cost during Q2 FY19 under the Gujarat State Textile Policy, 2012.

- The Company a reported PBT of Rs. 210 Mn and PAT of Rs. 180 Mn during 9M FY19.

Shares of Nandan Denim Limited was last trading in BSE at Rs.51 as compared to the previous close of Rs. 56.85. The total number of shares traded during the day was 4111 in over 91 trades.

The stock hit an intraday high of Rs. 53.5 and intraday low of 50.05. The net turnover during the day was Rs. 212601.

Source: Equity Bulls

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