During Thursday’s trading session, the shares of one of the leading textile manufacturers based in North India surged nearly 3 percent to Rs. 458.2 on NSE, after securing an order worth Rs. 7.5 crores for the supply of cotton yarn.
With a market cap of Rs. 456.1 crores, at 15:03 p.m., the shares of AB Cotspin India Limited were trading in the red at Rs. 443.15, down by nearly 0.6 percent, as against its previous closing price of Rs. 445.95.
What’s the news
According to the latest regulatory filings with the NSE, AB Cotspin India secured a significant order for the supply of 300 metric tons of high-quality cotton yarn, valued at Rs. 7.5 crores.
This achievement underscores the company’s robust market presence and the increasing demand for its premium products across domestic and international markets.
The order reflects the company’s reputation for delivering exceptional quality and its ability to meet large-scale requirements.
Cotton Yarn, known for its environmentally friendly and socially responsible production processes, aligns with the company’s strategic focus on promoting sustainable practices and meeting the evolving demands of eco-conscious customers.
Previous Orders & News
On 11th December, AB Cotspin India announced securing a repeat order valued at Rs. 5.35 crores for the supply of 273 MT of cotton yarn.
On 24th December, the company revealed the successful expansion of its solar power plant capacity by an additional 300 KW. This expansion reflects the company’s ongoing commitment to sustainability and increasing the share of renewable energy within its operations.
With the addition of this 300 KW, A B Cotspin now has a total installed solar plant capacity of 2,800 KW.
Furthermore, the company is in the process of installing another 331 KW of solar power, which is expected to be operational by January 2025. This further emphasizes AB Cotspin’s dedication to environmentally responsible growth.
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Financials
AB Cotspin India reported a significant growth in revenue from operations, experiencing a year-on-year rise of nearly 51.5 percent, increasing from Rs. 169 crores in FY23 to Rs. 256 crores in FY24.
Similarly, during the same period, the company’s net profit increased from Rs. 2 crores to Rs. 7 crores, representing an impressive growth of around 250 percent YoY.
Shareholding Pattern
As per the September 2024 shareholding pattern, the Promoters hold a 47.61 percent stake in the company, while the retail investors holds a 52.39 percent stake in AB Cotspin India.
About the company
Founded in 1997, AB Cotspin India Limited is primarily engaged in the business of fully integrated manufacturing operation, producing high-quality cotton yarn, knitted fabrics, cottonseed oil, and oil cakes.
The company is a prominent textile manufacturer based in Jaitu, Punjab, and serves both domestic and international markets and leveraging its strong logistics and supply chain network for efficient delivery.
The company got listed on NSE Emerge in January 2022. In FY24, AB Cotspin India reported turnover of Rs. 255.76 crores and EBITDA of Rs. 27.64 crores.
Written by Shivani Singh
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