BURSTING AT THE SEAMS: MAHAVIR SPINNING
Article Abstract:
Mahavir Spinning (MS) of the Vardhman group has diversified into yarn, sewing threads and alloy steels. Its export turnover decreased to Rs163 crore in 1997-98 from Rs166 crore in 1996-97 due to a slowdown in demand. Its profitability has improved with the value addition in gassed and mercerised yarn. Sewing threads account for 30 percent of its turnover, steel 10 percent and yarn 6 percent. MS is to increase the production of its export- oriented unit by 25,000 spindles in 1998-99. Its scrip is now quoted at Rs62 per share. (khr) ------------------------------------------------------------ Financial results of Mahavir Spinning ------------------------------------------------------------ Particulars Year ended March (Rs in crore) 1997 1998 ------------------------------------------------------------ Sales 539.39 576.34 ------------------------------------------------------------ Gross profit 68.82 89.04 ------------------------------------------------------------ Interest 43.81 43.17 ------------------------------------------------------------ Net profit 37.45 54.01 ------------------------------------------------------------ Equity 25.74 25.74 ------------------------------------------------------------ EPS (Rs) 14.31 20.89 ------------------------------------------------------------ Dividend (%) 32.00 40.00 ------------------------------------------------------------ Net worth 275.45 317.71 ------------------------------------------------------------ Book value (Rs) 97.00 113.43 ------------------------------------------------------------
Comment:
Posts net profit of Rs54.01 crore in 1998 vs Rs37.45 in 1997
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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BURSTING AT THE SEAMS: VARDHMAN SPINNING
Article Abstract:
Vardhman Spinning of the Vardhman group is very integrated with operations in cotton spinning and blended yarn (1.3 lakh spindles), processing and dyeing (18 tonnes per day) and weaving (108 looms). It plans to increase its weaving capacity to 120 looms by August 1998 and to 200 looms in the next 2 years. It is also expanding its dyeing unit to fulfil the requirements of the acrylic fibre unit being set up by the group. The company's scrip is now quoted at Rs63 per share. (khr) ------------------------------------------------------------ Financial results of Vardhman Spinning ------------------------------------------------------------ Particulars Year ended March (Rs in crore) 1997 1998 ------------------------------------------------------------ Sales 357.30 369.39 ------------------------------------------------------------ Gross profit 43.77 60.70 ------------------------------------------------------------ Interest 29.97 24.41 ------------------------------------------------------------ Net profit 21.26 31.04 ------------------------------------------------------------ Equity 15.95 15.95 ------------------------------------------------------------ EPS (Rs) 13.29 19.42 ------------------------------------------------------------ Dividend (%) 30.00 40.00 ------------------------------------------------------------ Net worth 178.63 202.13 ------------------------------------------------------------ Book value (Rs) 112.00 126.13 ------------------------------------------------------------
Comment:
Posts net profit of Rs31.04 crore in 1998 vs Rs21.26 crore in 1997
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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BURSTING AT THE SEAMS: VARDHMAN POLYTEX
Article Abstract:
Vardhman Polytex Limited of the Vardhman group produces cotton, polyester cotton, acrylic and worsted yarn. It also has an installed capacity of 88,000 spindles for tyre cord production. Its revenue from exports increased to Rs20.39 crore in 1997-98 from Rs1.51 crore in 1996-97. The high prices of cotton and poor demand may affect the company in 1998-99. Its scrip is now quoted at Rs45 per share. (khr) ------------------------------------------------------------ Financial results of Vardhman Polytex Ltd ------------------------------------------------------------ Particulars Year ended March (Rs in crore) 1997 1998 ------------------------------------------------------------ Sales 147.40 174.15 ------------------------------------------------------------ Gross profit 26.78 36.64 ------------------------------------------------------------ Interest 5.72 6.58 ------------------------------------------------------------ Net profit 12.71 24.63 ------------------------------------------------------------ Equity 10.63 10.63 ------------------------------------------------------------ EPS (Rs) 11.96 23.16 ------------------------------------------------------------ Dividend 28.00 40.00 ------------------------------------------------------------ Net worth 87.35 107.72 ------------------------------------------------------------ Book value (Rs) 82.17 101.33 ------------------------------------------------------------
Comment:
Posts net profit of Rs24.63 crore in 1998 vs Rs12.71 crore in 1997
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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