Visagar Polytex Q2FY16 PAT Up 63.88%

Author(s): City Air NewsChandigarh, November 16, 2015: Mumbai based Visagar Polytex Limited, engaged into manufacturing, retail and trading of women’s ethnic wear announced its results for the quarter ended September 2015. The company’s...

cityairnews cityairnews Nov 16, 2015 12:30 0

Visagar Polytex Q2FY16 PAT Up 63.88%
Author(s): 
City Air News
Chandigarh, November 16, 2015: Mumbai based Visagar Polytex Limited, engaged into manufacturing, retail and trading of women’s ethnic wear announced its results for the quarter ended September 2015.
The company’s revenues stood at Rs.22.47 crore, up 11.90% compared to Rs.20.08 crore in the same quarter last year.
Company’s net profit witnessed a jump of 63.88% at Rs.1.18 crore vis-à-vis Rs. 0.72 crore for the quarter ended September FY15.
The EPS of the company stood at Rs. 0.06 for the quarter ended September 2015.
The company markets its products under the brand name VIVIDHA and currently has a 2000 square feet flagship store in Kolkata.  Also, the company recently launched its new retail outlet - VIVIDHA in Mumbai. This is the company’s 14th retail outlet in the country, others being present at Rajasthan, Gujarat and West Bengal. 
Visagar Polytex also aims at partnering with aspiring women entrepreneurs through its recently launched franchisee model. This will bring aspiring women entrepreneurs on board who have flair for doing business. The scheme will be operated from the Mumbai’s VIVIDHA showroom.
The company has invested around Rs. 4.5 crore CAPEX for this financial year.
 
Management’s comments:
Mr. Tilokchand Kothari CMD, Visagar Polytex Ltd said, “We are pleased to announce the quarter numbers and they are in line with the company’s strategy of achieving profitable growth. The launch of retail outlet in Mumbai is significant aspect of our expansion plan and we target to achieve around Rs. 5-7 crore within next 12 months. We also plan to open about 200 stores in the next three years.”
 
Currently, the company has a total of 14 stores in Maharashtra, Rajasthan, West Bengal, Gujarat and also has wholesale presence in about 1500 stores.
 
Date: 
Monday, November 16, 2015