Leading Indian producer of premium cotton yarn, Lagnam Spintex Limited, has released its financial year and quarter results, which concluded on March 31, 2024. The company’s strategic expansion strategies and diversification into new product lines drove a spectacular surge in revenue. Rather than April 1, 2024, as planned, Lagnam commissioned its Rs 218 cr. Capex expansion project on January 31, 2024. The results show that the company’s early commissioning helped bring about a competitive cost advantage and an increase in top line.
Compared to Rs 90.41 crores in Q4FY23, the total revenue for the quarter increased by 66% to Rs 149.82 crores in Q4FY24. Compared to Q4FY23’s Rs. 1.52 crores, the Profit after Tax increased by a staggering 380% to Rs. 7.30 crores in Q4FY24.
The textile company recorded a PAT of Rs 14.57 crores for the fiscal year 2023–2024, on an income of Rs 437.79 crores. With an EPS of Rs 8.25, its EBITDA was Rs 45.37 crores.
Financial Highlights for Fiscal year ended March 31, 2024
Anand Mangal, Promoter and Managing Director of Lagnam Spintex said of the company’s performance, “We are thrilled with the remarkable progress of our expansion project. Our Compact yarn has been exceptionally well-received by both existing and new customers, thanks to its superior quality. This widespread acceptance has enabled us to expand our customer base across domestic and export markets.”
Lagnam Spintex is a leader in the cotton yarn manufacturing sector thanks to its unrelenting dedication to innovation, quality, and customer satisfaction. With its expansion plans and strategic initiatives, Lagnam Spintex is well-positioned to solidify its leadership position and keep providing top-notch products to its valued clientele across the globe.
By: Namit Pandey
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