Leading integrated denim maker Nandan Exim Ltd on Wednesday said its revenues increased by 21 per cent and profit after tax by 6 per cent in the second quarter of 2012-13, ended September 30, as compared to the corresponding quarter last fiscal.
The company is also undertaking a capacity expansion plan at an investment of Rs 261 crore annually to increase the manufacturing capacity from the existing 60 million metres to 100 million metres each year, Vedprakash Chiripal, Chairman of the Chiripal Group, told presspersons.
The company has tied up Rs 175 crore worth of funds so far and the balance would be achieved by December.
While the company’s Q2 revenues were Rs 180.43 crore (Rs 149.10 crore), PAT stood at Rs 8.05 crore (Rs 7.60 crore), he said.
Nandan Exim, whose turnover increased from Rs 570 crore to Rs 700 crore last fiscal, is expecting turnover to touch Rs 1,000 crore in 2013-14.
For Q3, Nandan Exim received export orders worth Rs 50 crore. In the half-year, it exported denim worth Rs 40 crore.