Acknit Industries Limited
Add to watch list to get report alerts
BSE Code:
530043
NSE Code:
ACKNIT
Business Profile
Business Profile
Acknit Knitting was incorporated in the year 1990 for manufacturing and exporting seamless hand gloves to various countries in the world.
It operates in three divisions, namely, gloves division, which produces seamless gloves. Leather division, which produces leather gloves, jackets, aprons, leg guards and industrial garments, which produces industrial garments made from cotton fabric, poly cotton, polyester and high visibility fabrics.
Acknit exports to European countries, U.S.A. and the Canadian countries. It has set up a 100% export oriented unit at Falta Export Processing Zone, West Bengal in the year 1991, by installing 20 fully computerized knitting machines imported from Japan with an installed production capacity of 108,000 dozen pairs of seamless knitted hand gloves. Acknit is based at Kolkata, India.
Financials
Acknit Knitting registered a steep drop of 47.73% in net profits of Rs 4.03 million for the quarter ended in September 2007 from a profit of Rs 7.71 million for the quarter ended in September 2006.
Net Sales rose 14.52% to Rs 103.86 million for the quarter ended September 2007 from Rs 90.69 million for the quarter ended September 2006.
Total income rose 15.23% to Rs 106.35 million for the quarter ended September 2007, from Rs 92.29 million for the quarter ended September 2006.
The earnings per share (EPS) of the company stood at Rs 1.60 in the quarter ended September 2007.
Recent Developments
27-AUG-07
Acknit Knitting announced that the board of directors of the company has recommended payment of final dividend of 5% which is Rs 0.50 per share, subject to confirmation by the members in the forthcoming Annual General Meeting. This final dividend is in addition to the Interim Dividend of 15% which is Rs 1.50 per share paid in the month of March 2007 and thereby aggregate Dividend for the year would be 20% which is Rs 2 per share.