Will raise Rs 200 cr for future expanison: Nitin Spinners

Nitin Spinners reported a good first quarter performance with a topline growth of 48 percent and margins around 19-20 percent.

Speaking about the company better than expected first quarter performance, Dinesh Nolkha, MD, Nitin Spinners, Bhilwara told CNBC-TV18 that going forward too, revenue growth of Rs 200 crore was achievable for the next two-three quarters.

Margins were aided by better operational performance because in the last two quarters the company operated on new expanded capacity. Going forward too  he expected the EBITDA margins to be maintained around 18 percent.

Speaking about the business outlook going forward he said the company hoped to raise around Rs 200 crore for future expansions. The new plant would come into operations in second half of FY16, he added.The domestic business contributed around 35 percent of the revenues and rest was exports for the quarter gone by, he said.