Performance of India's leading spinning companies in FY24

Filatex India Ltd

Filatex India Ltd reported a slight decline in revenue, which dropped from ₹43.038 billion in FY23 to ₹42.859 billion (approximately $513.08 million) in FY24. Despite this, the company achieved a notable increase in net profit, rising from ₹899 million in the previous fiscal year to ₹1.106 billion. The earnings per share (EPS) also saw an improvement, climbing from ₹2.02 to ₹2.49. Filatex India's operational efficiency showed a positive trend with the operating profit margin (OPM) increasing to 5.91 per cent from 5.81 per cent, and the net profit margin (NPM) rising to 2.58 per cent from 2.09 per cent.

Nitin Spinners Ltd

Nitin Spinners Ltd experienced robust revenue growth, with its revenue jumping from ₹24.067 billion in FY23 to ₹29.056 billion (approximately $378.83 million) in FY24. However, the company saw a decline in net profit, which fell to ₹1.315 billion from ₹1.648 billion in the previous year. Consequently, the EPS decreased from ₹29.32 to ₹23.39. Despite the drop in net profit, Nitin Spinners improved its operating efficiency, with the OPM rising to 13.05 per cent from 12.48 per cent. However, the NPM fell to 4.53 per cent from 6.85 per cent, indicating increased pressure on profitability.

Trident Ltd

Trident Ltd reported a revenue increase, reaching ₹67.304 billion (approximately $805.56 million) in FY24, up from ₹62.674 billion in FY23. Despite the revenue growth, the company faced a decline in net profit, which fell to ₹3.895 billion from ₹4.219 billion. The EPS also dropped from ₹0.84 to ₹0.78. On a positive note, Trident Ltd enhanced its operational efficiency, with the OPM improving to 15.32 per cent from 15.03 per cent. However, the NPM decreased to 5.79 per cent from 6.73 per cent, reflecting the challenges in maintaining profit margins amid rising costs.

Vardhman Textiles Ltd

Vardhman Textiles’ revenue skyrocketing to ₹92.986 billion (approximately $1.11 billion) in FY24 from ₹9.840 billion in FY23. The company also achieved substantial growth in net profit, which soared to ₹6.076 billion from ₹749.07 million. Despite this impressive growth in revenue and net profit, the EPS declined from ₹25.91 to ₹21.01. Vardhman Textiles saw a decrease in its OPM, which fell to 13.89 per cent from 15.02 per cent, and the NPM also decreased to 6.53 per cent from 7.61 per cent, indicating increased cost pressures.

Fibre2Fashion News Desk (DP)