Shri Lakshmi Cotsyn Limited
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BSE Code:
526049
NSE Code:
SHLAKSHMI
Business Profile
Business Profile
Incorporated in 1988, Shri Lakshmi Cotsyn (SLCL) is Kanpur-based textiles major. The company has two manufacturing facilities in Fathephur, Uttar Pradesh and Sonepat, Haryana. The product range of the company includes blended fabrics, quilted fabrics, fusible interlining and embroidered fabrics. The company is entering the individual home segment with terry towels, home furnishing, denim fabrics, garments and bottom weight fabrics. The company has undertaken a Rs 26.4-million expansion programme in 2006 and commercial production began by Dec. 2006 in all product portfolios such as denim, bottom weight fabrics, bed-sheets and terry towels. The completion of the expansion plan expected soon would add Rs 2,000 million to the total turnover. SLCL has a domestic distribution network of 300 agents across the country for domestic sales, besides supplying defence-related items such as bullet-proof jackets and bullet-proof helmets to defence establishments.
Financials
The company reported a 26.87% growth in net profits to Rs 51 million for the quarter ended Sep. 2006 as against Rs 40.20 million during the corresponding quarter in the previous year. Sales for this period increased 20.26% to Rs 985.20 million from Rs 819.23 million, a year ago. SLCL, for the year ended Jun. 2006, had reported a 27.52% increase in sales to Rs 3,600.3 million as against Rs 2,823.85 million for the year ended Jun. 2005. Net profit for this period also increased 63.99% to Rs 160.3 million as against Rs 97.75 million. The EPS for FY06 stood at Rs 11.7.
Recent Developments
26-DEC-06
The company forms a joint venture with UK-based company Armet Armored Vehicles under the name of `ARMET ARMORED VEHICLES & SHRI LAKSHMI LTD`. SLCL is participating with 49% equity in the said joint venture company whereas Armet Armored Vehicles, UK is having a 51% equity in over all capital structure. The main business of this joint venture will be to carry on the business of manufacturing of armored vehicles and manufacturing of armor plates, panels, helmets, ballistic body amours, etc and similar safety and security related equipments for domestic as well as foreign market. The manufacturing unit of the joint venture company will he established in dist. Malwa, Fatehpur, Uttar Pradesh.
30-OCT-06
The board of directors of the company accords its approval to add or establish nylon project having installed capacity of 8.55 million meters p.a. under its ongoing expansion plan at Malwan Dist. Fatehpur for manufacturing nylon coated fabric, furnishing fabric and furnishing fabric.
01-SEP-06
The board of directors of the company accords its approval to form joint venture or subsidiary entity at SAIF Zone, UAE for a third country export or import including assembling, packaging and manufacturing of various products.
05-MAY-06
The company`s board of directors accords its approval to enter into the business of garment industries by way of setting up the garment manufacturing unit at Roorkee, Uttaranchal having the capacity of 10,000 trousers 5,000 shirts and 5,000 ladies wears a day.
Future Plans
SLCL is planning for a tie-up with major retail chains abroad such as Wal-Mart in the US for terry towel and other cotton-based textile products the company is manufacturing now. The focus is on the major markets of the US, Europe and the UAE.