Visagar Polytex Q1FY16 Net up 26.26%

Mumbai based Visagar Polytex Limited, engaged into manufacturing, retail and trading of women’s ethnic wear reported its results for the quarter ended June 2015.

The company’s revenues stood at Rs. 22.33 crore, up 20.12% compared to Rs. 18.59 crore in the same quarter last year.

Company’s net profit witnessed 26.26 % growth at Rs. 1.25 crore vis-à-vis Rs. 0.99 crore for the quarter ended June FY15.

The EPS of the company stood at Re.0.07 for the quarter ended June 2015.

The company has changed its fiscal year ending period to March from June earlier.

The company markets its products under the brand name VIVIDHA and currently has a 2000 square feet flagship store in Kolkata. The company also recently opened VIVIDHA showroom in Jaipur to provide a premium shopping experience.

The Company has declared a final dividend of Re. 0.03 per share being 3% on 184,650,400 Equity Shares of Re. 1/- each for the Nine months period ended 31st March 2015 which shall be subject to approval of the Shareholders in Annual General Meeting of the Company.

Management’s comments:
Mr. Tilokchand Kothari CMD, Visagar Polytex Ltd said, “We have huge expansion plan ahead and aim to increase our retail store footprints to Madhya Pradesh, Gujarat and Maharashtra. We also plan to open about 200 stores in the next three years.”

The company currently has 13 stores in Rajasthan, West Bengal and Gujarat and also has wholesale presence in about 1500 stores.