Eskay K`nIT(India) Limited
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BSE Code:
514118
NSE Code:
SHREEKRPET
Business Profile
Business Profile
Eskay KnIT India (ESKAY), the flagship company of the Navin Kumar Tayal group, manufactures cotton yarn and knitted fabrics. The company was incorporated in 1987.
The company in engaged in spinning, knitting and processing activities. The company is going in for a Rs 3,500 million expansion to raise capacities. Under the plans envisaged, Eskay shall enhance its spindles capacity by putting an additional 75,600 spindles at its plants located at Silvassa in the Union Territory of Dadra and Nagar Haveli, Bhilad in Gujarat and Navi Mumbai. Post-expansion, the knitting capacity shall increase by 13,184 tons per annum to 46,184 tons per annum and processing of fabrics will increase by 13,608 tons per annum to 31,608 tons per annum. The company has commenced launching retail and hyper markets for multiple products and will open retail stores all over India with brands like League & Assets. Further, the company will also operate restaurants and foods courts in malls.
The company has ventured into introducing software products in the areas of e-commerce with logistic support, mobile communication & wireless application protocol, knitwear & fashion portals, software for internet applications and web enabling, insurance and banking, and CAD/CAM.
The company plans to export garments to major supply chains such as Wal-Mart and Urgent Gear.
The registered office is located at 58/B, Dhanu Udyog Industial Area, Piperia, Silvassa.
Financials
Eskay KnIT India registered a steep drop of 76.35% in net profit of Rs 20.15 million for the quarter ended June 2007 from a profit of Rs 85.21 million for the quarter ended June 2006.
Net sales rose 5% to Rs 1,274.03 million for the quarter ended June 2007 from Rs 1,213.37 million for the quarter ended June 2006.
Total income was Rs 1,274.6 million for the quarter ended June 2007.
The earnings per share (EPS) of the company stood at Rs 0.07 for the quarter ended June 2007.
Recent Developments
05-OCT-07
Eskay K`n`IT India, is going for a Rs 3,500 million expansion to raise its spinning, knitting and processing capacities. Under the plans envisaged, Eskay shall enhance its spindles capacity by putting an additional 75,600 spindles at its plants located at Silvassa in the Union Territory of Dadra and Nagar Haveli, Bhilad in Gujarat and Navi Mumbai. The company shall finance the capex by way of term loans to the tune of Rs 1500 million, with the rest coming from internal accruals. Post-expansion, the knitting capacity shall increase by 13,184 tons per annum to 46,184 tons per annum and processing of fabrics will increase by 13,608 tons per annum to 31,608 tons per annum.
02-JAN-07
Eskay KnIT India, the flagship company of the Navin Kumar Tayal enterprise, said it approved the commencement of retail and hyper market for multiple products and will open retail stores all over India. Further, the company announced the opening of restaurants and foods courts in all the proposed malls.
Future Plans
Eskay is planning for a Rs 3,500 million expansion to raise its spinning, knitting and processing capacities. Under the plans envisaged, Eskay shall enhance its spindles capacity at its plants located at Silvassa in the Union Territory of Dadra and Nagar Haveli, Bhilad in Gujarat and Navi Mumbai. The company shall finance the expansion by way of term loans to the tune of Rs 1,500 million, with the rest coming from internal accruals.