Damodar Threads Limited (DTL), a producer of specialised yarns, plans to expand by investing one billion rupees in capital expenditure.
Anil D Biyani, Executive Director of the firm, said the company will be investing a sum of around Rs. 800 million to one billion over a period of next three years to enhance the capacity of its Silvassa based plant from current 35,000 spindles to 110,000 spindles.
The firm specializes in production of fancy yarns that offer the same look and feel like linen/silk. Besides this, the firm also engages in production of synthetic, cotton and blended yarns.
Mr. Biyani said that pursuant to the expansion drive, the firm this year would invest Rs. 200 million to add 15,000 new spindles.
Out of the capital expenditure of Rs. 200 million, Rs. 60 million has been raised through equity and Rs. 140 million through debt.
While the firm has already partnered for the debt portion, it has raised equity capital by way of private placement, Mr. Biyani said and added that the firm proposes to raise the entire one billion rupees capex through equity and debt.
DTL ships its goods to over 30 countries and has a strong presence across the country through its personalized branches or agency network.
Moreover, the firm has also ventured in production of value addition fabrics which it further supplies to producers of readymade garments.
Fibre2fashion News Desk - India
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