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Orient Craft plans about Rs 1.75 bn capacity expansion
13
Jul '10
A top official of Orient Craft Ltd, a leading apparel manufacturing and exporting house from India, while conversing at Mumbai said that, the company, is looking forward to expansion and for the same it intends to spend Rs 1.25 to 1.75 billion, over the span of next three years.

Sudhir Dhingra, Chairman and Managing Director of Orient Craft informed that, the sum would be invested towards capacity building and for attempting other auxiliary trades, such as printing and retailing.

The company plans to fund the investments through internal accruals and debts. Also, they foresee higher interest from individual equity investors for their closely held company, said Dhingra.

The company is based in Gurgaon and operates with 23 high-tech manufacturing facilities in Delhi, Gurgaon, Noida and Rajasthan, holds capacity to churn out 1.5 lakh apparel pieces per day. More so, it has 51 clients from overseas.

The company, for FY 2010, recorded a turnover of Rs 9.36 billion, which comprised of domestic turnover of Rs 360 million, whereas the overseas sales turnover came to Rs 9 billion.

Post completion of its expansion plans, the company is positive on striking a turnover of Rs 14 billion by 2012. This anticipated figure is a total of the exports turnover of Rs 12 billion and domestic turnover of Rs 2.25 billion.

Fibre2Fashion News Desk - India

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