SKNL, pioneers in manufacturing and distributing branded textile and ready-to-wear clothing, today announced its consolidated results for the year ended 31 March, 2008.

Financial Performance Update
FY2008 results compared with FY2007 results:

• Revenues stand at Rs. 17,48.65 crores as against Rs. 1229.54 crores, up by 42%
• Operating profits up by 61 % to Rs. 403.80 crores from Rs. 250.19 crores
• PAT improves by 66% to Rs. 205.59 crores from Rs. 123.52 crores
• EPS at Rs. 10.19 as compared to Rs. 7.39 an increase of 38%

Commenting on the financial performance for FY2008 Mr. Nitin S. Kasliwal, Managing Director and Vice Chairman of SKNL said, “FY2008 has been a successful year for the company. We have performed well across segments in the enterprise. All the brands under the SKNL umbrella have received considerable mind share among the consumers through our efficient distribution network.

Furthermore, our expertise in manufacturing has enabled us to enhance our top line, significantly. The coming year poses a significant number of opportunities which when finalized and implemented will add even greater value to our customers and investors.

The company would maintain its growth momentum through continued thrust on its existing businesses. Our concentration in the domestic market has permitted us to expand market share and more importantly protect margins.”

About SKNL (BSE:514304 & NSE: SKUMARSYNF)
SKNL is one of India’s leading textiles and apparel manufacturing company with expertise in multi-fiber manufacturing. The company has extended its presence in multiple product categories from Fabrics to Apparels and Home Textiles. Ever since its inception in 1948 the company has been a frontrunner in its line of business and has come to be known as one of the most respected businesses in the sector.

SKNL offers an excellent set of high value products ranging from low cost high quality textiles to world class premium ready to wear suiting. The brands in its arsenal include S. Kumars, Reid and Taylor, Stephens Brothers, Carmichael House and Belmonte. The company also plans to add more brands to its mix in order to have a higher degree of penetration across various price points and differing preferences.

SKNL has state–of–the–art manufacturing capabilities and is characterized by a distribution network that is un-paralleled in terms of its reach. The company also has a management team with several years of experience translating to an exhaustive knowledge of the industry.

About SKNL (BSE:514304 & NSE: SKUMARSYNF )
SKNL is India's leading textile and apparel company and country's only textile major that operates in all product categories, - Fabrics, Apparel and Home Textiles, all fibre categories (natural, man made and blended) and caters to all socio economic segments of the Indian market. Five world class manufacturing facilities, a capacity of producing over 2,00,000 meters/day, 30,000 outlets across the country, popular household brands like Reid & Taylor, Belmonte, S.Kumars, Carmichael House and a strong and efficient human resource lend strength to the company's performance. The major SBUs of SKNL include Consumer Textiles, Ready-To-Wear, Home Textiles, Luxury Suitings and High Value Fine cotton.