Thursday, 30 May 2019

The Growth In The Revenue Has Also Translated Into An Equivalent Growth In The Net Profits, Says Mr Jayesh Shah MD & CEO Sonam Clock Ltd


 30th May 2019, Mumbai

Sonam Clock Limited, manufacturing of Clock Movements and Wall Clockshas declared its Audited Financial Results for the quarter and full year ended 31stMarch 2019
Key Result Highlights of FY19
       Total Revenue increased by 26% to Rs. 64.8 crores compared to Rs. 51.3 crores for FY18
       EBITDA for FY19 stood at Rs. 7.4 crores; EBITDA Margins at 11.4%
       Profit after Tax stands at Rs. 3.7 crores; 28% higher y-o-y against 2.9 crores in FY18. PAT Margins were consistent at5.7%
Commenting on the results and performance,Mr. Jayesh Shah, Managing Director & CEO said:
“The company has delivered a significant growth in terms of Revenue on account of improved efficiencies. The growth in the revenue has also translated into an equivalent growth in the Net Profits. Despite of the headwinds of a slowdown in the last quarter, we have delivered a healthy performance due to a healthy geographical distribution network. During the last quarter we had started the construction of new plant which will increase our production capacity by 25% in Phase 1 to cater increased demand for value added products. The new capacity is expected to be operational in Q3FY20. The expansion programme is on its scheduled course. We have recently expanded our product portfolio with launch of LED and Digital clocks in value added segments.As the largest manufacturing of clock movement in India, we are well placed to capture the growing demand in the future”
About Sonam Clock Limited:
Sonam Clock Limited First Ever Company to register unpredicted growth in chorological industry in sector of corporate Gifting. Company is well equipped with the world class technology and state-of-the-arts equipment which are strategically utilized by highly professional management team & the workforce from surrounding villages. (Most of them are female workers). With the values of dedication, commitment and hard work, the company as a team is climbing the ladder of success. At present, the company has a wide range of Clocks, LED clocks, Alarm Timepieces and Clocks movements
Since last Seven years "Sonam" has never looked back, and now become India's one of the largest customized clock producing Company. In the field of Indian Clock Manufacturing industry "Sonam" is running "NECK to NECK" a winning track with its production capacity and strong marketing network.
For more information about the Group and its businesses, please visit website athttps://www.sonamquartz.com/
Safe Harbor:
This document may contain forward-looking statements about Sonam Clocks Ltd., which are based on the beliefs, opinions and expectations of the company’s management as the date of this press release and the companies do not assume any obligation to update their forward looking statements if those beliefs, opinions, expectations, or other circumstances should change, These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. Consequently, readers should not place any undue reliance on such forward-looking statements.

No comments:

Post a comment