Indus Fila's net up by 103 p c

Bangalore, May 7 (UNI) Fashion and textile manufacturing major Indus Fila, the flagship company of Indus Mandhana Enterprises, has achieved a sales turnover of Rs 269 crore and PAT of Rs 26.1 crore for the year 2006-07, as compared to Rs 82.5 crore and Rs 5.2 crore during the previous year, respectively.

Announcing the results in the presence of company Chairman Gerhard Borenemann here today, Vice-Chairman and Managing Director Nitin Mandhana said the company was growing with a CAGR on sales of 109 per cent and PAT of 103 per cent for the last five years, thanks to the organic and inorganic growth.

"We have set a guidance of Rs 410 crore sales and PAT of Rs 41 crore for the current fiscal. The growth rates will most likely be in the range of 65 to 70 per cent," he said.

The Company which exports most of its products, mainly to the US that accounts for 70 per cent, derived its revenue from fabric, both shirting as well as bottoms and garmenting. In terms of geographic mix it had an export of 49 per cent and the product mix of fabric 77 per cent and garments 23 per cent, he said.

Mr Mandhana said Indus Fila had successfully completed its IPO in March this year which was oversubscribed by 150 per cent and netted Rs 82.34 crore. This would form part of funding for the all round expansion of Rs 160 crore to be completed by 2008.

He said the growth during the previous year had been spectacular with the company achieving 226 per cent growth in sales, 382 per cent in export sales, 297 per cent in EBITA and 406 per cent in PAT, while EPS was at Rs 18.68.

"Recently we acquired two major brands in the US and we are open for more organic acquisitions. We are looking for forward indications. In respect to inorganic growth, if we get any good value pick, we will go ahead," he said.

UNI