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Siyaram's to expand fabric & garment production capacity
01
May '12
Siyaram's, a major producer of blended fabrics in India, has decided to expand its fabric and garment production capacity to cater to ever rising demand for branded products and readymade garments.

The company intends to spend Rs. 1.6 billion for the expansion that is intended to kick off in August or September this year. The funds would flow from internal accruals and debt capital.

The expansion is intended to increase the firm's existing fabric production capacity of 55 million metres per annum by around one million metres per month or about 12.5 million metres per annum.

It plans to increase its existing garment capacity of 250,000 pieces per month to 320,000 pieces per month.

Alongside capacity expansion, the firm intends to add 40 new outlets to its existing network of 100 exclusive outlets during the current fiscal. This would be mainly implemented through the franchise route, and the company would be investing only around Rs. 30 million for the purpose.

The Mumbai-based company enjoys a 20 percent share in the Rs. 60 billion organized retail market in India and owns brands like Oxemberg, Siyaram MSD and J Hampstead.

It runs four weaving and dyeing plants at Tarapur in Maharashtra, two garment production facilities at Daman and one weaving facility at Silvasa.

Siyaram's plans to clock a minimum 15 percent rise in its net sales for 2012-13. Last fiscal, the company registered net sales of Rs. 9 billion, which it intends to grow to Rs. 11 billion during the current fiscal, with garment business contributing Rs. 2 billion to the same.

Also, it expects to see its gross turnover 15 percent above its net turnover.

Siyaram's has targeted its exports, which are majorly towards West Asia, to grow from last year's Rs. 500 million to Rs. 750 million this year.

Fibre2fashion News Desk - India

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