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Lagnam Spintex Limited — Earnings Release 2022
Oct 18, 2021
61639_rns_2021-10-18_07f31993-daac-4d50-8651-6f9e99eb2b7c.pdf
Earnings Release
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Plant & Regd. Office: A 51-53, RIICO Growth Centre Hamirgarh, Bhilwara (RAJ)-311001
LSL/21-22/CS/009 Date: 18.10.2021
To, The Manager Listing & Compliance Department, National Stock Exchange of India Limited Exchange Plaza, 5[th] Floor, Plot No. C/1, G Block, Bandra-Kurla Complex, Bandra, Mumbai- 400051.
Company Symbol: LAGNAM Series: EQ ISIN: INE548Z01017
Sub.: Submission of Press Release
Dear Sir/Madam,
Pursuant to Regulation 30 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Please find enclosed herewith a copy of the Press Release being issued by the Company.
The same is also available on the website of the Company i.e. www.lagnamspintex.com.
You are requested to please take on record the aforesaid information for your reference, records and for further needful.
Thanking You,
Yours Faithfully,
For Lagnam Spintex Limited
Rajeev Parashar Company Secretary & Compliance Officer M. No. A52343
Enclosed: a/a
M: (91) 9929091010 E: [email protected] W: www.lagnamspintex.com PAN: AABCL8061A CIN: L17119RJ2010PLC032089
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Press Release
Lagnam Spintex Limited Q2 FY 2021-22 Results: Another Quarter of Robust Performance Wherein Sales Turnover Up by 63% and PAT increased by 438% YOY
Lagnam Spintex Limited, leading manufacturers of High-Quality Cotton Yarns has announced another quarter of outstanding financial performance in its board meeting held on 16[th] October, 2021. Company reported sales turnover of Rs. 81.34 Cr for the quarter ending on 30[th] Sept, 2021 as against Sales Turnover of Rs. 49.95 Cr during the quarter ending on 30[th] Sept of FY 2020-21, leading to jump of 63%. Company PAT Zoomed in to Rs. 6.14 Cr for the quarter ending 30[th] Sept, 2021 as against PAT of Rs.1.13 Cr for corresponding last year quarter leading to growth by staggering 438%.
The company is riding high on upward wave in spinning industry due to huge demand and supply gap in Indian Spinning industry and downfall of China in Textile Industry in recent past and backed by its high-quality yarns its produces. Company both Ring based facility and open-ended facilities situated at Bhilwara are running at 100% capacity levels to meet the demand of company products.
In the first six month of FY 2021-22, the company has posted sales of Rs.156.05 Cr as against sales of Rs. 69.59 Cr for the six months for the FY 2020-21, up by 124%. Company has reported staggering figures of PAT for the six months ending on 30[th] Sept, 2021 amounting to Rs.12.26 Cr as against Loss of Rs. 6.28 Cr in the corresponding six months of last FY. The EBIDTA of the company for the half year ending on 30[th] Sept, 2021 was Rs. 25.96 Cr. as against EBIDTA of Rs. 1.81 Cr for the corresponding half year of last FY.
The half year EPS for the current FY is Rs. 6.96 which on annualized basis is likely to be between Rs.13.50 to Rs.14.0 per share based on current trend.
The company also reported superb performance in exports markets and its export sales has reached to all time high of Rs.89.56 Cr in the first half of FY 2021-22 as against export sales of Rs. 47.83 Cr for the half year FY 2020-21 and backed by advance orders for next one and half to two months in hand, company expects to achieve highest export sales in the current FY ending 31[st] March, 2022.
Commenting on the announcements for the Q2 of FY 2021-22 and guidance for the full year FY 2021-22, Mr. Anand Mangal MD of Lagnam Spintex Ltd said Q2 FY22 results will act as booster for the company future performance and scalability. We look forward to scale new heights by continue to explore new markets and value-added products for our customers.
Mr. Mangal further added that company has recently migrated to Main Board of National Stock Exchange of India Limited from the SME Platform and is thank full to its stakeholders during all the difficult times and now company is on growth path.
For more information please contact at: [email protected]
Or please visit: www.lagnamspintex.com