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ReturnIndia:Eastern Silk PAT up 188% in Q4 2006-07 at Rs 15.46cr
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PublishDate：
2007-04-29 14:33:00
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Eastern Silk Industries Ltd (ESI), the country's premier exporter of silk goods, has reported 188% per cent growth in net profit to Rs 15.46 crore in the quarter ended March 31, 2007 from Rs 5.36 crore in the corresponding quarter of 2005-06. Net sales was Rs 96.47 crore in the quarter ended March 31, 2007 against Rs 79.70 crore in the fourth quarter of the year ended March 31, 2006, recording a growth of 21 per cent.
Net profit for the full year in 2006-07 increased by 66 per cent to Rs 64.39 crore compared to Rs 38.72 crore for the year ended March 31, 2006. Net sales in 2006-07 stood at Rs 451.20 crore against Rs 390.49 crore for the year ended March 31, 2006, registering growth of 15 per cent. The earning per share on March 31, 2007 works out to Rs 40.07 against Rs 27.76 on March 31, 2006, representing growth in earnings of 44 per cent.
Commenting on the results, Chairman S S Shah said: 揟he company has started reaping the fruits of value addition, which is amply reflected in the improving margins. In the current year, we expect to maintain the momentum in earnings on steady sales. We are exploring new growth opportunities, both organic and inorganic. With our expansion/diversification projects coming on stream in the current year, we can look forward to greater value creation for our stakeholders.
Significantly, the average sales realization of the company on raw silk yarn, mill made fabrics and made-ups has improved by 30-50 per cent in the current year. For example, the realization from silk made-ups has improved from $ 9.24 in 2005-06 to $ 14.92 per set in 2006-07.
Source: Industry Website
Net profit for the full year in 2006-07 increased by 66 per cent to Rs 64.39 crore compared to Rs 38.72 crore for the year ended March 31, 2006. Net sales in 2006-07 stood at Rs 451.20 crore against Rs 390.49 crore for the year ended March 31, 2006, registering growth of 15 per cent. The earning per share on March 31, 2007 works out to Rs 40.07 against Rs 27.76 on March 31, 2006, representing growth in earnings of 44 per cent.
Commenting on the results, Chairman S S Shah said: 揟he company has started reaping the fruits of value addition, which is amply reflected in the improving margins. In the current year, we expect to maintain the momentum in earnings on steady sales. We are exploring new growth opportunities, both organic and inorganic. With our expansion/diversification projects coming on stream in the current year, we can look forward to greater value creation for our stakeholders.
Significantly, the average sales realization of the company on raw silk yarn, mill made fabrics and made-ups has improved by 30-50 per cent in the current year. For example, the realization from silk made-ups has improved from $ 9.24 in 2005-06 to $ 14.92 per set in 2006-07.
Source: Industry Website
