FY07 turnover seen at Rs 75cr: Richa Knits

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FY07 turnover seen at Rs 75cr: Richa Knits

MD at Richa Knits, Sushil Gupta says that EPS for the current year will be something around Rs 5.5 and for 2008; it will be more than Rs 10.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS Richa Knits lists at Rs 30.95 on BSE Subscribe to Richa Knits IPO for listing gains: Keynote Richa Knits IPO poll: Experts opinion mixed BSE | NSE 01/01/70 Are Mutual Funds betting on ?

Richa Knits  listed on the Stock Exchange, Mumbai at Rs 30.95 versus its offer price of Rs 30 per share.

MD at Richa Knits , Sushil Gupta expects the turnover for FY07 at Rs 75 crore and profit at Rs 8 crore. Gupta further adds that by FY08, the company's new facilities will be fully operational. Hence, he expects Rs 175 crore of sales for FY08 and profit of around Rs 20 crore.

Excerpts from CNBC-TV18's exclusive interview with Sushil Gupta:

Q: Could you tell your investors a bit about how much you would do in terms of revenues and profits in FY07, and more importantly, FY08 once your expansion kicks in?

A: In FY07, for the half yearly, we have already made a turnover of Rs 37 crore, out of which net profit is already Rs 4 crore in the first six months. And for the full year, we expect a turnover of around Rs 75 crore and profit of around Rs 8 crore.

By FY08, our new facilities will be fully operational and we expect Rs 175 crore of sales for the year and profit of around Rs 20 crore.

Q: Could you translate this Rs 8 crore and Rs 20 crore in terms of EPS on diluted equity?

A: EPS for the current year will be around Rs 5.5. And for 2008, it will be more than Rs 10.

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