Leading denim manufacturer Nandan Denim posted a rise of 23 per cent in profit after tax (PAT) during the fiscal 2015-16 to Rs 63.32 crore as compared to Rs 51.43 crore last fiscal.

Basic EPS posted by the company was Rs 13.90 during the fiscal as compared to Rs 11.29 in FY 2014-15. EBITDA stood at Rs 195.29 crore as compared to Rs 168.48 crore previously.

Net sales of the company was Rs 1156.72 crore as compared to Rs 1096.53 crore previously, a rise of 5 per cent.

“Our financial performance validates that we are taking right steps in the right direction. With the type of tighter operating controls, prudent raw material sourcing and growing capacity utilization that we have apart from concentrated efforts in moving up in the product segment,” Deepak Chiripal, ceo of Nandan Denim said.

“We are confident that post completion of the expansion plans, the company, with much larger production capacities and product baskets, would be optimally placed in competitive market to cater to the larger demand arising from India and overseas markets,” he added.