Aarvee Denims & Exports Limited
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BSE Code:
514274
NSE Code:
AARVEEDEN
Business Profile
Business Profile
Aarvee Denims & Exports (AARVEED) is a leading manufacturer and exporter of all kinds of denim fabrics and garments. Incorporated Mar. 28, 1988 as Amtex India, it went public Apr. 2, 1992, and got its current name on Apr. 7, 1994. The chairman and managing director is Vinod P. Arora and Ashish V. Shah, the managing director.
The product range includes denim garments (jeans, trousers, jackets and shirts for men, women and kids), cotton garments, home textiles and power plants. The fabrics and garments are available under the brand names of Aden, a range of bottom wears including jeans, trousers, shorts and skirts and Amtex, denim fabric available in a variety of shades and textures.
The company`s plant is in Narol, Ahmedabad. The combined installed capacity of its divisions is 30 MTPA in spinning, 72 million meters per annum in weaving, and 1,500,000 pieces per annum in the garments division. Presently, it has the capacity to produce 47 million meters of weaves, 18.5 MT of spinning and 600,000 pieces of readymade garments per annum. It has the latest spinning, dyeing & sizing, weaving, garmenting and finishing machines.
The company has signed a memorandum of understanding (MoU) with the government of Gujarat. The MoU was inked for a manufacturing project of manufacturing cotton yarn (spinning) with wind energy generation amounting to Rs 2,120 million.
The registered office is at 188/2, Ranipur Village, Opposite CNI Church, Narol Ahmedabad-382405, Gujarat.
Financials
The company swung to loss for the quarter ended December 2008. During the quarter, the company reported loss of Rs 76.72 million compared with a profit of Rs 9.63 million in the same quarter last year. Net sales for the quarter rose 25.80% to Rs 741.43 million, while total income for the quarter rose 23.21% to Rs 743.79 million, when compared with the prior year period. It reported loss of Rs 3.52 a share during the quarter compared with earnings of Rs 0.17 a share in previous year period.