Post by Admin on Jan 21, 2017 20:50:10 GMT 5.5
Know your Stocks & Investments
Nitin Spinners - Rencet multi breakouts and stock on the verge to fligh as per technicals. Fundamentals are Looking great. Maintained ROCE of over 26% over three years. More details below along with last message from Chairman.
Nitin Spinners is in the Textiles - Spinning - Cotton Blended sector. The current market capitalisation stands at Rs 358.42 crore.
The company management includes R L Nolkha - Chairman, Dinesh Nolkha - Managing Director, Nitin Nolakha - Executive Director, Y R Shah - Independent Director, R Chattopadhyay - Independent Director, Aditi Mehta - Independent Director.
It is listed on the BSE with a BSE Code of 532698 and the NSE with an NSE Code of NITINSPIN.
Its Registered office is at 16-17 Km. Stone, Chittor Road,,Hamirgarh, Bhilwara,Rajasthan - 311025.
Their Registrars are Bigshare Services Pvt. Ltd
Chairman's Speech (Nitin Spinners) Year : Mar '15
Dear Shareholders,
It is great pleasure to share with you the progress and prospects of
your Company.During the Year 2014-15 the company achieved remarkable growth inTurnover, Operating profits and Net profits. The company recorded salesof Rs 616 Crores against last year 488 crores, achieving a growth of 26%. The EBIDTA also increased by 24% from Rs 84.27 Crores in previous year to Rs 104.30 Crores during current year. Net Profits also increased from Rs 34.78 Crores to Rs 40.96 Crores. I am pleased to inform that Board of Directors have recommended a dividend of Rs 1.00 per Equity Share against last year Rs 0.75.
The financial figures are all the more notable against the backdrop of challenging market scenario for cotton textiles industry. There was steep fall in prices of Cotton due to higher production and change in procurement policies of Chinese Government. Cotton Yarn prices were also reduced sharply as a result of slump in cotton prices and subdued demand from International markets, affecting turnover and profitability margins. Despite of the challenges, your Company has achieved growth in turnover as well as profitability during the year as a result of increase in volumes, focus on niche and value added products and exploring new markets.
I am also pleased to share about successful implementation of Expansion project of Spinning and knitting during the year .The Company has successfully implemented expansion project for installation of 72480. Spindles and 19 Knitting Machines at cost of Rs. 281 Crores against envisaged project cost of Rs. 286 Crores and commercial production on expanded capacity commenced w.e.f. 09.02.2015 against projected date of 31.03.2015. The investment in the project is eligible for Interest subsidy and other benefits under TUF Scheme of Govt of India and Rajasthan Investment Promotion Investment Scheme of Govt of Rajasthan. After the expansion the production capacity of company increased to 37800 TPA of Cotton yarn and 8600 TPA of knitted fabrics and the company is now equipped to offer broader and diversified range of yarn and knit Fabrics to the customers and enhance its market share. The production on expanded capacity is reaching at its optimum levels and your Company will get full benefits of same in the year 2015-16.
Your Company remains committed to providing quality products, exemplary customer service, achieving business objectives with social responsibility and enhancing stakeholder value. We remain cautiously optimistic on delivering results with improved returns on capital employed. Good Governance has always been a part of our business philosophy and will continue to be so as we move into the future. Your Directors firmly believe in acting with integrity and upholding the highest standard of Corporate Governance.
I would like to thank all our colleagues for their hard work and valued
contribution during 2014-15. Together we have much to look forward, as we strive to make our Company even stronger and continue to focus on delivering value to our stakeholders. I also thank all our customers, suppliers, bankers, investors, and last but not the least, all our employees for their hard and sincere work.
With best wishes
R.L.NOLKHA
Disclaimer
Investment in equity shares has its own risks. The information contained herein is based on analysis and not to be considered as recommendations to buy or sell. This material is for personal information and for study purposes only and I am not responsible for any loss incurred due to it & take no responsibility whatsoever for any financial profits or loss which may arise from the above analysis. (I am Holding small quantity in this scrip)
Nitin Spinners - Rencet multi breakouts and stock on the verge to fligh as per technicals. Fundamentals are Looking great. Maintained ROCE of over 26% over three years. More details below along with last message from Chairman.
Nitin Spinners is in the Textiles - Spinning - Cotton Blended sector. The current market capitalisation stands at Rs 358.42 crore.
The company management includes R L Nolkha - Chairman, Dinesh Nolkha - Managing Director, Nitin Nolakha - Executive Director, Y R Shah - Independent Director, R Chattopadhyay - Independent Director, Aditi Mehta - Independent Director.
It is listed on the BSE with a BSE Code of 532698 and the NSE with an NSE Code of NITINSPIN.
Its Registered office is at 16-17 Km. Stone, Chittor Road,,Hamirgarh, Bhilwara,Rajasthan - 311025.
Their Registrars are Bigshare Services Pvt. Ltd
Chairman's Speech (Nitin Spinners) Year : Mar '15
Dear Shareholders,
It is great pleasure to share with you the progress and prospects of
your Company.During the Year 2014-15 the company achieved remarkable growth inTurnover, Operating profits and Net profits. The company recorded salesof Rs 616 Crores against last year 488 crores, achieving a growth of 26%. The EBIDTA also increased by 24% from Rs 84.27 Crores in previous year to Rs 104.30 Crores during current year. Net Profits also increased from Rs 34.78 Crores to Rs 40.96 Crores. I am pleased to inform that Board of Directors have recommended a dividend of Rs 1.00 per Equity Share against last year Rs 0.75.
The financial figures are all the more notable against the backdrop of challenging market scenario for cotton textiles industry. There was steep fall in prices of Cotton due to higher production and change in procurement policies of Chinese Government. Cotton Yarn prices were also reduced sharply as a result of slump in cotton prices and subdued demand from International markets, affecting turnover and profitability margins. Despite of the challenges, your Company has achieved growth in turnover as well as profitability during the year as a result of increase in volumes, focus on niche and value added products and exploring new markets.
I am also pleased to share about successful implementation of Expansion project of Spinning and knitting during the year .The Company has successfully implemented expansion project for installation of 72480. Spindles and 19 Knitting Machines at cost of Rs. 281 Crores against envisaged project cost of Rs. 286 Crores and commercial production on expanded capacity commenced w.e.f. 09.02.2015 against projected date of 31.03.2015. The investment in the project is eligible for Interest subsidy and other benefits under TUF Scheme of Govt of India and Rajasthan Investment Promotion Investment Scheme of Govt of Rajasthan. After the expansion the production capacity of company increased to 37800 TPA of Cotton yarn and 8600 TPA of knitted fabrics and the company is now equipped to offer broader and diversified range of yarn and knit Fabrics to the customers and enhance its market share. The production on expanded capacity is reaching at its optimum levels and your Company will get full benefits of same in the year 2015-16.
Your Company remains committed to providing quality products, exemplary customer service, achieving business objectives with social responsibility and enhancing stakeholder value. We remain cautiously optimistic on delivering results with improved returns on capital employed. Good Governance has always been a part of our business philosophy and will continue to be so as we move into the future. Your Directors firmly believe in acting with integrity and upholding the highest standard of Corporate Governance.
I would like to thank all our colleagues for their hard work and valued
contribution during 2014-15. Together we have much to look forward, as we strive to make our Company even stronger and continue to focus on delivering value to our stakeholders. I also thank all our customers, suppliers, bankers, investors, and last but not the least, all our employees for their hard and sincere work.
With best wishes
R.L.NOLKHA
Disclaimer
Investment in equity shares has its own risks. The information contained herein is based on analysis and not to be considered as recommendations to buy or sell. This material is for personal information and for study purposes only and I am not responsible for any loss incurred due to it & take no responsibility whatsoever for any financial profits or loss which may arise from the above analysis. (I am Holding small quantity in this scrip)