Mandhana Industries Q1 PAT declines 9.80 percent

Mandhana Industries, a leading manufacturer of

textiles and apparels has reported a decline in its Q1 profits at Rs 9.45 crore compared to Rs 10.48 crore in the corresponding quarter of the previous year. A decline of 9.80 per cent. Net sales for the audited quarter registered a growth of 35.81 per cent and stood at Rs 288.57 crores as against Rs 212.48 crores in Q1FY12-13.

For the same period, EBIDTA (earnings before interest, depreciation, taxation and amortization) is Rs 50.23crores, as against Rs 41.81 crores for Q1FY12-13, an increase of 20.11 per cent. The company’s operating EBIDTA margins have decreased to17.41per cent compared to 19.68 per cent in Q1FY12-13. Net Profit margins too have decreased to 3.28 per cent compared to 4.93 per cent in Q1FY12-13.

Commenting on the performance, Manish Mandhana, Joint Managing Director of Mandhana Industries says, “We have realized a modest growth in both our segments and we are sure to get back into a growth trajectory. ‘Being Human’ brand is a success both in the domestic and international market and we plan to augment its operations by increasing the number of EBOs to 40, shop in shops to 100 and distribution selling points to 250.” He says the impact of their insistent focus on increasing garment capacity and fabric processing at Tarapur, diversification into women’s wear complimented by the increase in scalability of ‘Being Human’ operations will be tremendous and will be reflected this year. “Though, high interest costs and raw material prices can impede the performance,” he added.