Lagnam Spintex reports Total Revenue of Rs 123.63 crores in Q3FY24 an increase of 71% from Q3FY23 and Multifold increase in PAT

New Delhi (India), February 14: Lagnam Spintex Limited, a leading manufacturer of high-quality cotton yarns in India, has announced its results for the quarter ended on December 31st, 2023 in its board meeting held on 12th February 2024.

The revenue for this quarter Q3FY24 grew to Rs 123.63 Cr compare to Rs 72.16 crores in Q3FY23, a jump of 71%. Lagnam is very excited to inform that the increase in Revenue was due to the new product profile they have added as part of their expansion project and reached out to new markets both in Exports and Domestic.

Lagnam Spintex Q3FY24 Results comparative:

The Profit After Tax for this quarter Q3FY24 grew to Rs 4.63cr compare to Rs 0.23 crores in Q3FY23, a multifold jump. Similarly, the Earning Per Share (Basic & Diluted) in Q3FY24 is 2.62 compare to 0.22 in Q3FY23.

The Export Turnover has jumped from Rs 15.11 Cr in Q3FY23 to 62.02 cr. In Q3FY24. The export turnover comprises of 50% of the total revenue of the company. The increase in export revenue by 310% was seen in Q3FY24compare to Q3FY23 mainly because of increase in export demand and also with our new 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, “There is an uptick in Cotton yarn demand in this quarter and we are thrilled that our expansion project completion was timed well with this market opportunity. Our product quality from expansion project is well accepted in both the Domestic and Export markets which is helping us to increase our customer base.”

Company also informed that they are moving in a big way towards renewable energy and have commissioned 4.4 MW of Roof top Solar project and looking at adding another 0.5 MW shortly, this will save energy cost for the company.

If you have any objection to this press release content, kindly contact to notify us. We will respond and rectify the situation in the next 24 hours.


Teerth Gopicon Ltd’s Rs. 44.40 crore public issue subscribed over 74 times; Receives overwhelming response

Ahmedabad (Gujarat) [India], April 10:  The initial public offering of Ahmedabad-based Teerth Gopicon Ltd, company specializes in engineering construction and development received overwhelming response for its Rs. 44.40 crore SME IPO and got subscribed over 74.17 times. Non institutional investor category received the highest interest among investors and was subscribed over 97 times. Retail segment […]

Read More

altGraaf Crosses 3300 Plus Crore Investments Offering Alternative Fixed Income Opportunities

1,85,000 registered investors drive ~150% volume growth in FY24 Bengaluru (Karnataka) [India], April 8: altGraaf, an alternative fixed-income platform offering fixed-income products, today announced a milestone achievement of 3300+ crores of investments from more than 1,85,000 registered investors, crediting their success to their valuable customers, partners and clients. The 3300+ crore investments represent a 153% volume […]

Read More

Teerth Gopicon plans to raise up to Rs. 44.40 crore from public issue; IPO opens April 8

Ahmedabad (Gujarat) [India], April 8:  Ahmedabad based Teerth Gopicon Ltd, company specializes in engineering construction and development mainly focusing on roads, sewerage and water distribution projects is planning to raise up to Rs. 44.40 crore from its SME public issue. The company has received approval to launch its public issue on NSE Emerge Platform of […]

Read More