Mandhana Ind sees FY12 net up 35%, may seek retail JVs
Mandhana Industries expects its net profit to rise around 35% to Rs 90 crore in the current fiscal, aided by its retail foray apart from steady demand for its textiles and garments in international markets.
June 01, 2011 / 10:02 IST
Nachiket Kelkar
Moneycontrol.com
Mandhana Industries expects its net profit to rise around 35% to Rs 90 crore in the current fiscal, aided by its retail foray apart from steady demand for its textiles and garments in international markets. The company expects revenue to rise to about Rs 1,050-1,100 crore in 2011-12 (April-March), Mitesh Shah, vice-president, finance and corporate affairs told moneycontrol.comMandhana Industries had reported a net profit of Rs 66.75 crore on net sales of Rs 838.29 crore in the last financial year ended March 31.Its margin declined to 17.8% in 2010-11 from 20% in 2009-10, as cotton yarn prices surged. Price of benchmark Shankar-6 variety, for instance, rose to around Rs 62,000 per candy in April, from around Rs 38,500 in September. One candy is equivalent to around 356 kilogram.Cotton prices have since fallen back to around Rs 48,000 and this fall should aid in some margin recovery, Shah said. Operating margin is expected to be in 18-20% range this fiscal, he said.Mandhana Industries has already announced plans to launch Salman Khan
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