Aditya Birla Nuvo Limited (ABNL), formerly Indian Rayon and Industries Limited,is an Rs 1.9 billion multi-product and multi-location industrial conglomerate. The company`s principal activities are to manufacture viscose filament yarn, carbon black, branded apparels, textiles and insulators. It also provides services related to insurance, software and business process outsourcing. ABNL, incorporated in 1963 and a part of Aditya Birla Group, is consolidating its position under the chairmanship of Mr. Kumar Manglam Birla. ABNL entered the retail garment segment by acquiring Madura Garments, the readymade garment division of Madura Coats Ltd. This acquisition brought into ABNL`s old major apparel brands like Louis Philippe, Van Heusen, Allen Solley, Peter England etc. The company has a 30% share in the Rs. 12 billion branded men wear sector. The company has a number of subsidiaries -- Birla Sun Life Insurance, PSI Data Systems, Birla Technologies, Laxminarayan Investment, etc conducting their businesses in different sectors. It is one of the leading players of India in viscose filament yarn, branded apparel, carbon black and private sector insurance. ABNL in JV with Birla NGK Insulators Pvt Ltd is India`s largest and world`s third largest producer of insulators.
Financials
The company disclosed rise of 1,211.83% in consolidated net profit on y-o-y basis to Rs 3.08 billion, while total income dropped 0.38% y-o-y basis to Rs 46.13 billion for the quarter ended December 2010.
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