Vardhman Textiles is among India's largest manufacturers of yarn, sewing threads & acrylic fiber. It manufactures for brands like GAP, H&M, Uniqlo, Benetton, Wills, Van Heusen, and Peter England.
Neeraj Jain, Joint Managing Director, Vardhman Textiles in an interview to CNBC-TV18 spoke about his expectations from the third quarter results and outlook for the company going forward.
According to him Q3 is not expected to be a great quarter and revenues could be in single digits or early double digits as compared to around 18 percent reported in Q2. Jain said margins to also come under pressure because most of the Indian spinning companies were holding on to cotton and when the cotton prices worldwide came down September, the yarn prices got adjusted with the cotton price.
However, fourth quarter could be better, he added
With Vardhman Group set to invest Rs 560 crore for setting up weaving and fabric units in Himachal Pradesh's Baddi town, Jain said the project will be completed in 18 months and will add 250 looms to the weaving capacity, which in turn will help consolidate the overall fabric business.
The company is among India's largest manufacturers of yarn, sewing threads & acrylic fiber. It manufactures for brands like GAP, H&M, Uniqlo, Benetton, Wills, Van Heusen, and Peter England.
transcript to follow
Vardhman Text stock price
On December 29, 2014, Vardhman Textiles closed at Rs 455.75, up Rs 8.80, or 1.97 percent. The 52-week high of the share was Rs 529.00 and the 52-week low was Rs 324.10.
The company's trailing 12-month (TTM) EPS was at Rs 82.88 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 5.5. The latest book value of the company is Rs 447.48 per share. At current value, the price-to-book value of the company is 1.02.
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