BOMBAY RAYON FASHIONS LTD = RESULTS FOR = FIRST QUARTER (Q1 FY 2011) = EXCELLENT RESULTS = EXPANSIONS WILL BENEFIT IN FY2011

Bombay Rayon Fashions Limited

NSE Symbol     BRFL

Q1 FY 2011 RESULTS

COMPARISON

Bombay Rayon Fashions Limited has produced excellent results for the Q/e june,2010.

Net Sales has increased by 49.46% to Rs.502.70 Cr from Rs.336.35 Cr in the q1 Fy2919 – and up proportionately (Q1 FY11 x 4) by 24.53% compared to FY 2010 (Rs.1614.75 Cr).

Profit from Operations at Rs.98.94 Cr – has increased by 52.41% - from Q1 FY219 (Rs.64.92 Cr)  - and proportionately by 23.89% from FY2010 (Rs.319.45 Cr).

Net Profit       at Rs.52.17 CR  has increased by 39.9% from Q1 FY2010 (Rs.37.29 Cr) – and proportionately by 18.62 from FY 2010 (Rs.175.92 Cr).

Basic EPS for the quarter is Rs.4.66 – compared to Rs.4.5 in Q1 FY2010 and Rs.18.9 of FY2010 full year. The Equity has gone up to Rs.111.90 cr from Rs.87.10 cr during this period. In FY2010, the company had issued GDRs equal to 1.9 cr equity shares and 1cr convertible warrants.

PE RATIO : At current rate of EPS, annual EPS will be around Rs.19 – same as last year but on enhanced Equity. Current Market price is Rs.263.The PE Ratio works out to 13.84.

EXPANSION : In FY2010, BDFL has expanded both Fabric and garments capacity considerably. This will certainly enhance the revenues and profits in coming quarters. The first quarter itself has witnessed about 50%  increase in sales. Some of the new Plants are working well below their capacities – so, we can expect them to improve further in every quarter. Some more new capacities are being added in current year. Being a market leader with good reputation, BRFL can be expected to improve its market leadership much more in coming days.

RESULTS IN FIGURES :

BOMBAY RAYON	Jun-10	Jun-09	DIF%1	FY10NC	Dif%2
Net Sales	50269.9	33634.78	49.46	161476.6	24.53
SIT & WIP	-4125.5	-3597.52	14.68	-15004.7	9.98
Raw Materials	30512.8	20542.09	48.54	98283.43	24.18
Employees Cost	4811.84	3852.96	24.89	16723.34	15.09
Depreciation	2900.87	1468.63	97.52	6806.53	70.48
Other Expen	6275.59	4876.85	28.68	22722.68	10.47
Total Expen	40375.6	27143.01	48.75	129531.3	24.68
Profit.Operations	9894.32	6491.77	52.41	31945.28	23.89
Other Income	220.41	508.16	-56.63	1566.05	-43.7
P B I&EI	10114.7	6999.93	44.5	33511.33	20.73
Interest	3096.92	2098	47.61	9354.37	32.43
P A I B B EI	7017.81	4901.93	43.16	24156.96	16.2
P B T	7017.81	4901.93	43.16	24156.96	16.2
Tax expense	1800.86	1172.96	53.53	6565.05	9.72
P A T	5216.95	3728.97	39.9
Net Profit	5216.95	3728.97	39.9	17591.91	18.62
Dividend (%)	-	-		15
Face Value.Rs	10	10	0	10
Paid Up Equity	11190	8710	28.47	11190
Reserves	-	-		179741.7
Basic EPS	4.66	4.5	3.56	18.9	-1.38
Public holding%	64.92	0		-

ANNOUNCEMENTS

TO

THE EXCHANGE

05-08-2010        Bombay Rayon Fashions Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-JUN-2010 as follows: Net Sales of Rs. 50269.94 lacs for quarter ending on 30-JUN-2010 against Rs. 33634.78 lacs for the quarter ending on 30-JUN-2009. Net Profit / (Loss) of Rs. 5216.95 lacs for the quarter ending on 30-JUN-2010 against Rs. 3728.97 lacs for the quarter ending on 30-JUN-2009.          -

19-05-2010        Bombay Rayon Fashions Limited has informed the Exchange that the Board of Directors of the Company in its meeting held on May 18, 2010 has recommended the dividend of Rs. 1.50/- per equity shares (15%) for the year 2009-10. -

19-05-2010        Bombay Rayon Fashions Limited has informed the Exchange regarding the standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 161476.59 lacs for year ending on 31-MAR-2010 against Rs. 134240.03 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 17591.91 lacs for the year ending on 31-MAR-2010 against Rs. 14849.84 lacs for the year ending on 31-MAR-2009.

19-05-2010        Bombay Rayon Fashions Limited has informed the Exchange regarding the consolidated Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 180145.41 lacs for year ending on 31-MAR-2010 against Rs. 151451.31 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 16159.15 lacs for the year ending on 31-MAR-2010 against Rs. 13667.17 lacs for the year ending on 31-MAR-2009.

19-11-2009        Bombay Rayon Fashions Limited has informed the Exchange that: "The Committee of the Board of Directors at their Meeting held on Wednesday ,November 18, 2009 has considered and approved the allotment of 1,90,00,000 (One crore ninety lacs) GDRs representing 1,90,00,000 underlying equity shares at par value of Rs.10 each, at an issue price of US $ 5.11 per GDR to the persons resident outside India". 

17-11-2009        Bombay Rayon Fashions Limited has informed the Exchange that the Committee of the Board of Directors at their Meeting held on November 13, 2009 has considered and approved the allotment of 1,00,00,000 (One Crore) Convertible Warrants ("Warrants") to Raynold Shirting Limited, an entity belonging to Promoter Group, each Warrant being convertible, at the option of the Warrant holder, within a period of 18 months from the date of issue, into one Equity Share of Rs.10/- each for cash at an exercise price of Rs 193/- determined in accordance with SEBI Guidelines for Preferential Issues.      -

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