New Delhi: Spentex Industries Limited (SIL), one of the country’s established yarn manufacturers recorded a consolidated income of Rs646.91 crore for the first half of FY 08, an increase of 106.77% compared to Rs312.87 crore in the corresponding previous period.
On a consolidated basis, EBITDA for H1FY08 improved to Rs78.38 crore, an increase of 98.81% compared to Rs39.42 crore in the corresponding previous period.
In Q2FY08 Spentex recorded a consolidated income of Rs361.80 crore and EBIDTA Rs40.52 crore while operating margins for Q2FY08 stood at 11.20%.
During the first half FY08, Spentex completed the acquisition of Czech Schoeller Litvinov. The transaction provides Spentex with a strong European presence in the high end yarn segments helping the company gain access to a large customer base in over 30 countries.
The company today has nine state-of-art plants in Baramati, Sholapur, Kolhapur, Nagpur, Pithampur, Ahmedabad, Tashkent, To’yetpa and Litvinov producing 628, 120 spindles of high quality yarns and 236 air jet looms.