| Press Release |
Nakoda Limited Q1 PAT up by 36%
|
Mumbai, May 12, 2012:
- Q1 Revenue at Rs.626.08 Crores up by 39%
- Q1 PAT at Rs. 14.42 Crores up by 36%
Mumbai, Nakoda Limited (BSE code: 521030), one of the largest manufacturers of the fully drawn yarn, reported a robust growth in revenue and profits for the quarter ended, March 31, 2012.
The company saw an increase in revenue by a whopping 38.86% from Rs. 450.88 Cr to Rs. 626.08 Cr during the same period for the last fiscal. The profit after tax for the quarter ended March 31, 2012 stood at Rs. 14.42 Cr, resulting into an increase of 35.53%, as against Rs. 10.64 Cr in the corresponding period of the last fiscal. EBITDA rose by 32.18% from 26.94 Cr to Rs. 35.61 Cr during the quarter.
Income from the Manufacturing Segment rose by 95.24% to Rs. 457.77 Cr from Rs. 234.46 Cr for the quarter under consideration. In the trading segment, the sales stood at Rs. 168.31 Cr from Rs. 216.42 Cr.
The Board approved the audited accounts for the year ended on December 31, 2011. The Company achieved total revenue of Rs. 2138.70 Cr for the year 2011 and earned net profit of Rs. 49.42 Cr.
The Board also recommended a dividend of Rs.0.25 per equity share of Rs.5/- each equivalent to 5% on the paid up equity share capital of the Company for the year ended 31.12.2011.
|
Financial Performance
|
Quarter ended March 31, 2012 (Rs. Cr.) |
Quarter ended March 31, 2011 (Rs. Cr.) |
Growth % |
Year ended Dec 31, 2011 (Rs. Cr) |
REVENUE |
626.08 |
450.88 |
38.86% |
2138.70 |
EBITDA |
35.61 |
26.94 |
32.18% |
122.27 |
PAT |
14.42 |
10.64 |
35.53% |
49.42 |
|
Commenting on the company’s performance in the year ended December 31, 2011, Mr. B.G. Jain, Chairman & Managing Director, NAKODA Limited said, “Our results for the year under review are very encouraging. It has been a year of strong performance and consolidation for NAKODA LTD.
|
Financial Highlights
Full year FY 2011
- Standalone Revenue is up by 59.74% from Rs.1338.89 crs to Rs.2138.70 crs,
- EBITDA is up by 65.72% from Rs. 73.78 crs to Rs.122.27 crs,
- PAT is up by 49.08% from Rs. 33.15 crs Rs.49.42 crs.
Q4 2011
- Standalone Revenue of Rs.609.82 crs, increase of 60.20 % over Q4FY10.
- EBITDA for Q4FY11 was Rs.34.55 crs, increase of 66.75 % over Q4FY10.
- PAT for Q4FY11 at Rs.13.87 crs, increase of 49.62 % over Q4FY10.
About Nakoda Limited:
Nakoda, an ISO 9001 - 2008 company is one of the prominent players in the Polyester Filament Yarn Industry in the country. With the completion of its ongoing backward integration / expansion / forward integration project with a capital outlay of Rs 333 Cr, Nakoda has achieved a capacity of 1,40,000 MTPA.
Nakoda Ltd. ranks amongst top 500 in Indian companies according to the research carried out by The Economic Times, Fortune 500 (India), Business India as well as Financial Express.
BSE Script ID- NAKODA |
Industry – Textile |
BSE – Code - 521030 |
Market Cap as on 7th Feb.,2012 – 131 Cr (BSE) |
Group / Index – B |
Total Traded Value (Lakh)–12.30 (as on 7th Feb. 12) |
For more details contact:
Nakoda Ltd
Mr. Sameer Desai |
Sachin K. Yelwande |
Head–Corporate Communications |
Manager–Corporate Communications |
M – 9892492801, Off – 022-22041102 / 03 |
M – 9892867729, Off – 022-22041102 / 03 |
Email – sameer.desai@nakodaltd.com |
Email – sachinky2010@gmail.com |
|
|
|
|
Quaterly Results:
|
| NAKODA TO INVEST 1500 CR. |
Nakoda Limited has drawn up an ambitious plan to make investments of Rs. 1,500 cr. during the next three years to significantly expand its capacities in Polyester Yarn segment and consolidate its operations by further integration. The three year plan was approved by the Board of Directors in its meeting held on 10th May, 2010. Out of the total investment of Rs. 1,500 cr., Rs. 234 cr. would be immediately spent for the second phase of expansion to increase the spinning capacity from 1,00,000 MTPA to 1,40,000 MTPA. Nakoda’s first phase of expansion at a cost of Rs. 333 cr. Is nearing completion and is expected to go on stream by August, 2010.
The Board has also proposed to enhance the capital base of the Company by making a preferential issue of Convertible Warrants of Rs. 108 cr. to the promoters and strategic investors. Additional funds not exceeding Rs. 108 cr. is proposed to be raised by offering equity shares through QIP or Depository Receipts. The proceeds would be deployed to meet the Company’s growth plans. Nakoda is embarking upon major forward as well as backwards integration and continuously expanding its capacities to become one of the leading players in the industry. Besides consolidating its position, it has also set eyes on acquisition of domestic and overseas companies, businesses and projects.
Nakoda’s spinning capacity will jump to about 0.5 million MTPA once the proposed plan is implemented. The Company will then join 1 Billion USD Club by achieving a turnover of RS.5,000 cr.
|
Nakoda Textile commissions FDY lines plant at Karanj
|
Nakoda Ltd has commissioned its 19500 tones FDY lines in October 2007, at Karanj. Company has achieved full utilization of FDY lines. The efficiency level of the said plant is around 98%.
With the installation of said plant Company now will be one of the few major players in its segment of the Industry. FDY lines will produce filament yarn for weaving industry for which there is huge demand in Surat itself where Company's manufacturing facilities are located.
The above project would add Rs 175 Crores to its top line and is expected to improve by Rs 7.5 Crores in its bottom line in the year ending December, 2008.
|
Nakoda Proposes Expansion & Backward Integration |
The company is embarking upon ambitious growth plan envisaging Backward Integration by installing 1,00,000 MTPA capacity Continuous Polymerisation Plant. This would eliminate dependence on polyester chips which are currently procured from outside. This would also bring down its manufacturing costs, as company will start manufacturing FDY/POY directly from PTA/MEG instead of polyester chips.
It is also envisaged to expand the present production capacity from 50,000 MTPA to 1,00,000 MTPA of FDY/POY. The company is contemplating integrating forward also by installing texturising machines.
Mott MacDonald India Pvt. Ltd.(IMM), a leading multi disciplinary management and engineering consultancy based in India who are part of the global Mott MacDonald Group headquartered in U.K., were engaged to carry out detailed Techno Economic Feasibility study and to prepare Project Report which has been received and accepted.
The Project Cost has been pegged at Rs. 333 Crores to be funded by mix of equity, internal accruals and debt. Axis Bank has been retained for arranging funds for the project. Once complete, the project would make the company an integrated player of international size in the PFY segment.
|
Nakoda invests in Textile Park |
Company has acquired 18.5% in Surat Super Yarn Park coming up near Surat. This is the single largest investment by any company in the park. Investment for the park is estimated at Rs 108 crore inclusive of coal based CPP of 15 MW capacity and is expected to be operational by December.
The park would help the company as other occupants of the park will procure its POY to produce textured yarn. In order to cater to higher demand, company is expanding its annual POY capacity from 30,000 tonne to 1,00,000 tonne.
Of this, Nakoda plans to set up 20 texturing machines with a capacity of 28,800 tonne in the Textile park. The company has also tied up with entrepreneurs in the park to buy Draw Textured Yarn (DTY). Nakoda will market DTY under its own brand name. It plans to export 20-25% of the DTY produced in the park to the US and Europe.
Surat Super Yarn Park, which will be the country’s largest DTY park, has been set up under the government’s scheme for integrated textile parks to provide state-of-the-art infrastructure facilities to small- and medium-sized companies
|
|
|
