Nandan Denim FY24 Results; PAT Zooms 8,000%; Check Details Here

Today, shares of Nandan Denims Ltd gained 17.31 per cent to Rs 43.79 per share from its previous closing of Rs 37.33 with an intraday high of Rs 43.79 and an intraday low of Rs 40.51.

Nandan Denim has declared its quarterly results for the quarter ending March 31 of FY24. Net profit of Nandan Denim rose 882.25% to Rs 27.11 crore in the Q4FY24 as against Rs 2.76 crore during the previous Q4FY23. Sales rose 26.68% to Rs 579.12 crore in the Q4FY24 as against Rs 457.16 crore during the previous Q4FY23.

For the full year, net profit rose 8384.91% to Rs 44.97 crore in the FY24 as against Rs 0.53 crore during FY23. Sales declined 0.82% to Rs 2010.09 crore in FY24 as against Rs 2026.76 crore during the FY23.

The stock of the Nandan Denim has delivered a positive return of 78 per cent in the last one year. The scrip has more than doubled in the last three years and has gained around 140 per cent. Nandan Denims has a market cap of over Rs 600 crore. The stock's 52-week high is Rs 48.50 while its 52-week low is Rs 17.26. The shares of the company saw a spurt in volume by more than 6 times on BSE.

In Q3FY24, Net Sales at Rs 462.18 crore in December 2023 up 76.24% from Rs. 262.24 crore in December 2022. Quarterly Net Profit at Rs. 7.96 crore in December 2023 up 159.45% from Rs. 13.38 crore in December 2022. EBITDA stands at Rs. 33.71 crore in December 2023 up 1894.67% from Rs. 1.69 crore in December 2022. Nandan Denim EPS has increased to Rs. 0.55 in December 2023 from Rs. 0.93 in December 2022.

Nandan Denim Limited (NDL) is India's leading and world's fourth largest integrated denim fabric maker. Company commenced its operations in 1994 with textile trading business and forayed into textile manufacturing in 2004. Nandan Denim currently engages in manufacturing of denim fabric, shirting fabric and yarn. NDL is a part of leading conglomerate, Chiripal Group, established in 1972 and is currently diversified across several businesses like Textiles, Chemicals, Packaging, Infrastructure and Education.