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Sudar Garments targets revenues of Rs 160cr for FY12
In an interview with CNBC-TV18, Murugan Phevar, chairman and managing director of Sudar Garments said that he expects earning per share at Rs 11-11.5 for FY11.
Shares of garment manufacturer Sudar Garments hit the bourses today. They saw good buying interest on listing day - surged 15.6% to a high of Rs 89 in early trade on the National Stock Exchange as against issue price of Rs 77 a share.
The company raised nearly Rs 70 crore through the issue. It intends to utilise a part of the net proceeds of the issue for expansion of the existing apparel manufacturing unit located in Khalapur Taluka of Raigad District near Mumbai.
In an interview with CNBC-TV18, Murugan Phevar, chairman and managing director of Sudar Garments said that he expects earning per share at Rs 11-11.5 for FY11.
For FY12, the company aims to achieve revenues of Rs 160 crore and profit of Rs 12 crore.
Below is the verbatim transcript of Phevar's interview with Udayan Mukherjee and Mitali Mukherjee of CNBC-TV18. Also watch the accompanying video.
Q: Can you start by taking us through what you might achieve in terms of sales and profits by the end of this year?
A: Our sales will be around Rs 115 crore and profit after tax will be around Rs 7.5 crore.
Q: What will be the reason for this jump in sales and profits because in FY10 you had done revenues of Rs 50 crore?
A: We had less machines in that year and in the current year we have increased 200 machines.
Q: What will be the earnings per share (EPS) in FY11?
A: EPS will be around Rs 11-11.5.
Q: For FY12 what will be your revenues and profits?
A: Next year our revenues will be around Rs 160 crore and profit will be around Rs 12 crore.
