Highlights of the call are:

• The company has reported robust 47% increase in the sales at Rs 2136.79 crore in the quarter ended September 11 mainly on the back of strong 65% jump in the domestic revenues at Rs 1397 crore. The export revenues also grew healthy 47% to Rs 2137 crore in the quarter under review. Net Profit was marginally up 2% to Rs 81.71 crore.
• Revenues from apparel fabric has jumped 39.5% to Rs 930.67 crore while that of polyester yarn has more than doubled to Rs 704.28 crore in the quarter under review. Exports of Apparel fabric woven has jumped up 91% to Rs 110.1 crore in the period under review.
• The company has provided forex loss provision of Rs 100 crore in the quarter under review. Resultantly, OPM slipped 440 bps to 24.3% in the quarter under review. EBITDA margins have reduced on q-o-q basis to 26.28% in quarter under review against 27.53% in the quarter ended June 11. The management expects EBITDA margins to improve in H2FY12.
• The other income spiked up to Rs 22.45 crore in the quarter under review against meager Rs 1.18 crore in the corresponding previous year. The company has booked Rs 10 crore of income on sale of piece of land at Silvassa and rest from final installment of insurance claim.
• The company has intensified efforts to sell or lease its prime commercial properties at lower Parel Mumbai (Penensular business). It has already leased 2 floor of the commercial space. The cash inflow from all the three real estate property would be to the tune of Rs 1400 crore. Major part of which will be flowing in Q4FY12.
• The company has not yet started commercially procuring cotton for the current cotton season. Management expects the procurement to start in Mid November 11.
• The company is undergoing capex in 2-3 projects and expects most of the capex to get over by end of December 11. Capex for FY12 was to the tune of Rs 1200 crore.
• The company has opened 58 H&A chain of stores during the quarter taking the total number to 369 (including shop in shop). The management targets to increase the count to 500 by end of March 12. It has also recently launched the ‘Brett Lee' line of active wear and has taken partnership with the UK menswear brand ‘Savil Row' as their exclusive licenses for India.
• Grabal Alok has reduced cash losses to Rs 13.61 crore in the half year ended September 11 against loss of Rs 21.70 crore in the corresponding previous year. ‘Store Twenty One' – the UK retail chain of Value format stores has improved its count to 221 from 219 a quarter ago. After the shareholders meet on 19 November 11, the company intends to merge Grabal Alok with in itself.
• Net borrowings have increased to Rs 9395.10 crore at end of September 11. Overseas debt was to the tune of Rs 2000 crore in terms of ECB's, FCNR loans etc.
• Return on Net worth has increased to 7.40% in quarter under review against 6.34% in quarter ended June 11. Return on Capital employed has increased to 11.68% against 10.33% a quarter ago.