Nahar Industrial Enterprises Ltd (NIEL), the flagship company of Nahar Group of Ludhiana, aims to position as the foremost integrated textile company from spinning to retailing of garments and the target is to achieve a turnover of Rs1500 crores by the end of 2010.
NIEL grossed revenue of Rs203.30 crores as against Rs174.20 crores in the corresponding period of the previous year showing a growth of 16.70 percent.
With diversified interest in spinning, weaving, fabric, garments and sugar it has recorded 35.34 percent jump in the net profit from Rs14.25 crores to Rs19.29 crores during the first quarter of fiscal 2006-2007.
The earning per share (EPS) for the period has also increased to Rs5.44 per share as against Rs4.66 per share, showing a rise of 16.74 percent.
Due to better planning, forward and backward integration of the textile units, better realization of value addition and working capital management, company could achieve enormous increase in net profit.
The company has embarked upon expansion plans in the textile division with total capital outlay of exceeding Rs.800 crores by enhancing the capacities of spinning, weaving, fabric processing facilities and retail stores.
The implementation of these projects along with putting up 53-MW co-generation power project will be in phases and is expected to extend up to financial year 2007-2008.
The company is running 95 cotton county exclusive stores in franchise model and has set a target to have 200 stores in the next 6 months.
marketing@alchempro.com
