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Winsome Textile to set up new yarn making unit in India
23
Mar '12
Mr. Ashish Bagrodia
Mr. Ashish Bagrodia
Winsome Textile Industries Limited will be setting up a new yarn manufacturing unit at Baddi in the north Indian state of Himachal Pradesh.

Decks have been cleared for construction of the new unit after the state-level single window clearance and monitoring authority recently approved Winsome's new investment proposal.

Mr. Ashish Bagrodia, Managing Director of Winsome Group, told fibre2fashion, “The new unit being set up at a cost of Rs. 2.3 billion will also come up in Baddi, where we already have an existing unit. This will make logistics and management much easier.”

Briefing about the items that will be manufactured at the new unit, he says, “We will be mainly manufacturing mélange yarn to further increase our mélange yarn production capacity. Currently, we are producing around 20 tons/day of mélange yarn and with this new facility we will add another 12 tons/day. So, our total mélange yarn capacity will increase to 32 tons/day.”

“We will also be increasing our yarn dyeing capacity by another 6 tons/day, raising the total capacity to 26 tons/day,” he adds.

Informing about employment generation at the new plant, he says, “The construction work at the new unit will begin in April, 2012 and it will be completed by March, 2013. It will create employment opportunities for around 200-250 people.”

“After starting the new facility, we will be the largest manufacturers of mélange yarn in India. We see our earnings before interest, taxes, depreciation, and amortization (EBITDA) going much higher than the existing one,” he reveals.

Commenting on the recent Union Budget 2012-13, the MD of Winsome opines, “The Finance Minister has provided for customs duty exemption on shuttle-less looms. Other than this, there was nothing else for the textile industry. I do not think the 0.9 percent reduction in excise on branded garments is going to make any difference.”

Fibre2fashion News Desk - India

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