The export turnover has jumped from Rs.104.17 crores to Rs.201.24 crores YoY. The export turnover comprises approx. 58% of the total turnover.
The company has expanded its export base and currently exporting to the quality conscious market of European countries such as Portugal, Germany, Belgium, Netherland, Poland, and others, Bangladesh, Turkey, Argentina, Peru, etc. The increase in export has improved the Operating margins during the FY22.
Commenting on the announcement of FY22 Results, Mr Anand Mangal, MD of Lagnam Spintex, said, “Despite outbreak of second wave of Covid-19, all time high raw material prices and the International disturbances, the company was able to maintain its production at full capacity and have achieved the increased turnover and profits. FY 2021-22 was very important for our company as it gave the impetus required for our next phase of expansion wherein, we would be installing an additional capacity of 41,472 spindles of 100% Cotton Compact yarn, to enrich the product mix of the company and to improve the value addition further. Solar Power plant of about 1.7 MW was commissioned in the end of December 2021 which will save the energy cost of the company.”
Financial Highlights for the Year ended March 31, 2022
Financials |
12 Months Ended FY 2022 |
12 Months Ended FY 2021 |
% Change |
Total Revenue | Rs348.95 cr. | Rs205.52 cr. | é70% |
EBITDA | Rs58.94 cr. | Rs26.31 cr. | é 124% |
Profit After Tax (PAT) | Rs28.80 cr. | Rs4.47 cr. | é 544% |
EPS | Rs16.30 per share | Rs2.53 per share | é 544% |
Financial Highlights for the Quarter ended March 31, 2022
Board of Director have approved a final dividend of 5% i.e. Rs0.50 per share. During the year the company also declared and paid an Interim Dividend of 5% i.e. Rs0.50 per Equity Share for the FY 2021-22 (Previous year- NIL). This translate into a total dividend of Rs1 per share that is 10% per annum.
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