SKNL net sales up 69.9 per cent at Rs 38,609 million

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S Kumars Nationwide Limited (SKNL), a leading brand-led conglomerate engaged in design, manufacturing, marketing and distribution of high-quality fabrics, ready-to-wear garments and home textiles, has posted a 69.9 per cent growth in net sales at Rs 38,609 million for the financial year ended March 31, 2010.

The company’s Profit After Tax (PAT) stood at Rs 2,773 million for the year ended March 31, 2010, up 42.1 per cent from Rs 1,951 million recorded a year ago.

The company’s EBIDTA increased 58.5 per cent – from Rs 4,881 million in the previous fiscal to Rs 7,734 million in FY ’10.

“Our performance during the year showcases our dedication towards achieving excellence in all spheres of operations. A customer-centric approach has reaped us huge benefits over the years and we expect the same to continue in the years to come,” SKNL managing director and vice-chairman Nitin S Kasliwal said.

Sales for the luxury textile segment, which comes under Reid and Taylor fabrics, grew by about 41.5 per cent, while ready-to-wear garments contributed strongly with a 58.8 per cent increase in sales over the last year.

Kasliwal added while the domestic business continued to grow well, the international business, too, showed huge potential with the company’s various acquisitions.

Internationally, with the recent acquisition of Hartmarx (now HMX Corp), the largest men’s tailored clothing company in America, SKNL has access to an array of international brands like Hickey Freeman, Bobby Jones, Hart Schaffner Marx, Exclusively Misook, Austin Reed and Monarchy.

– IndiaRetailing Bureau

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