SKNL’s net revenue grows by 21.9%

Announcing an increase of 21.9 per cent to Rs 63,643 million in

net revenues compared to Rs 52,229 million in the fiscal 2011, SKNL reported its financial results for the year ended 31st March, 2012. The net profits (before minority interest) increased by 20.0 per cent to Rs 4,708 million, as compared to Rs 3,925 million in the previous year. ‘Belmonte’ and ‘Reid & Taylor’ continued to be the major players in the domestic business with strong performances.

EBITDA growing by 27.5 per cent stood at Rs 13,470 million, as compared to Rs. 10,565 million in 2011. EBITDA Margin was recorded to have grown by 21.2 per cent. PBT increased to Rs. 6,659 million compared to Rs 5,580 million last year. Net profit after minority interest stood at Rs. 3949 million, as compared to Rs. 3,309 million in 2011. Fully diluted EPS after minority interest grew by 12.1 per cent to Rs. 13.7. The board also recommended Re 1 per equity share of Rs. 10 each to be paid as dividend.

Nitin S. Kasliwal, Managing Director and Vice Chairman of SKNL said, “The ‘Ready to Wear’ vertical recorded the highest growth across businesses. Our brand ‘World Player’, which caters to the economy segment, is reporting healthy uptake in its product offerings. We have a comprehensive product portfolio with strong brand equity in Indian and international markets. We are confident of the Company’s future prospects as we have the right strategic business model in place with presence across product categories and socio-economic segments, deeper alliances with channel partners, ownership of manufacturing units along with selective outsourcing strategy that will provide a fillip to revenue generation and profitability.”

SKNL is a multi-brand conglomerate involved in the design, manufacturing, marketing and distribution of high quality fabrics and ready-to-wear garments.