In an exclusive interview to CNBC-TV18, Nitin Kasliwal, chairman of S Kumars said that IPO for Reid & Taylor will come out soon.
S Kumars Nationwide has had a shocking day in the market today. The stock nosedived 25% ‘surprising’ the street. Denying the possibility of ‘any shares being pledged on any promoter account’, Nitin Kasliwal, vice chairman and managing director of the apparel company says “the shares are pledged to anyone but to our existing lenders.”
S Kumars (SKNL) expects a topline of Rs 6,700-7,000 crore in FY12 on easing raw material prices. Speaking about the Reid and Taylor IPO, S Kumars' chairman Nitin Kasliwal said it can hit the market by June 2011.
Ashesh Amin, President (Apparel and Retail) of S Kumars, in an interview with CNBC-TV18’s Latha Venkatesh and Ekta Batra, gave his view about the 10% mandatory duty which was optional earlier and the impact of this strike for the company, going forward.
Naishad Parikh, advisor and board member of Arvind Group expects no major changes in this year budget for the textile industry.
S Kumars Nationwide has declared its third quarter consolidated results. Its Q3 revenue was up 11.8% at Rs 1342.8 crore versus Rs 1200.9 crore, YoY. The company's PAT was up 18.2 % at Rs 95.5 crore versus Rs. 80.8 crore, YoY.