Lagnam Spintex reports Total Revenue of Rs 160.03 crores in Q1FY24-25 an increase of 123 Percent from Q1FY23-24

The EBITDA for the quarter Q1FY24-25 has increased to Rs 13.77 cr as against Rs 7.21 crores in Q1FY23-24, a major leap of 90.95%. The Earning Per Share has increased to Rs. 0.89 per equity share in Q1FY24-25 compare to Rs. 0.77 in Q1FY23-24.

The Export quantum has jumped from 978 MT in Q1FY23-24 to 2808 MT in Q1FY24-25, a substantial advancement of 187.12%. The export turnover has increased significantly by 193.38% in Q1FY24-25 to Rs. 77.88 cr compare to Rs. 26.54 cr in Q1FY23-24.

The increase in export revenue was seen in Q1FY24-25 mainly because of our new compact yarn product offering in quality conscious markets of Europe, Columbia, Egypt, Morocco, Peru and our existing well establish market of Bangladesh, United States, Italy etc. 

Commenting on the performance of the company, Mr. Anand Mangal, Promoter and Managing Director of Lagnam Spintex said, “The company has given steady performance despite of global economic downturn which has led to uneven demand. With our expansion project the company is focused on optimizing capacity utilization and product mix. Our product quality from expansion project has continued to help us in expanding our market base in both the Domestic and Export markets.”

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