Belmonte and Reid & Taylor drive growth

SKNL, the textiles brand has announced its results for the year ended 31st March, 2012. Under the financial performance, it has posted net revenues from operations up by 21.9per cent to Rs 63,643 million from Rs 52,229 million in FY’11. The net profits (before minority interest) rose by 20.0per cent to Rs 4,708 million compared to Rs 3,925 million last year.

Improved brand visibility, expanding product portfolio, a de-risked business model with presence across product categories and socio-economic segments, vertically and laterally integrated businesses, seamless supply chain and expansive distribution network have been key drivers for SKNL’s growth in FY’11-12.

Nitin S. Kasliwal, Managing Director and Vice Chairman of SKNL said, “The year witnessed strategic operational developments enhancing our value proposition; as well as higher volumes and realizations across our product portfolio. ‘Belmonte’ and ‘Reid & Taylor’ continue to be principal drivers of the domestic business with robust performances. The Luxury Cotton division is growing at a steady pace benefitting from increasing utilization levels and we expect to maintain this momentum.

 The ‘Ready to Wear’ vertical recorded the highest growth across businesses. Our brand ‘World Player’, which caters to the economy segment, is reporting healthy uptake in its product offerings. We have a comprehensive product portfolio with strong brand equity in Indian and international markets. We are confident of the Company’s future prospects as we have the right strategic business model in place with presence across product categories and socio-economic segments, deeper alliances with channel partners, ownership of manufacturing units along with selective outsourcing strategy that will provide a fillip to revenue generation and profitability.”