Home / Knowledge / News / Textiles / Sangam India completes its Rs.180 crore expansion project
Sangam India completes its Rs.180 crore expansion project
29
May '12
Sangam (India) Ltd, a leading polyester-viscose dyed yarn manufacturer, announced that the company has completed its Rs 180 crore expansion project to double its denim capacity to 32 million metres, following the commissioning of its second denim Ii ne of 8 meters.

AS a part of expansion plan, the company has set up a two lines of denim for 8 million each. The first line commenced production in November 2011. While the second line commissioned recently.

The company has installed 2,304 rotters for open ended spinning along with of 3000 mtpa knitting capacity and 7200 mtpa texturizing yarn capacity at its existing facilities at Bhilwara in Rajasthan. The company has also modernised its processing division by replacing new processing machines. The Rs 180 crore expansion project has been finance~thr9lJgh a mix,term loan and Internal accruals.

Commenting on the development, Mr R P Soni, Chairman, Sangam (India) said, "With completion of this expansion project, we plan to launch special fancy denim and enter high value added products like cotton Lycra, which offer better realisation and have a high demand.” He further added, "Going forward, the new capacity expansion will help the company to generate additional revenues in excess of Rs 300crore annually.”

For the financial year ended March 31, 2012, Sangam (India) registers Rs. 20.97 per cent rise in net sales at Rs 1,417.22 crore compared to Rs 1,171.52 crore in the previous year ended March 31, 2011.

Net profit stood at Rs 17.08 crore for the period ended March 31, 2012 compared to Rs 56.59 crore in the previous year ended March 31, 2011. Export revenue of company has been increased by 21 % to 308.22 crore.

Net sales grew by 28.31 per cent at Rs 395.10 crore for the quarter ended March 411, 2012 asc6'mpared to Rs 307.92 crore in the previous quarter. Net profit stood at Rs.6:0S crare as compared to a loss Rs. 1.84 crore in the previous quarter.

Commenting on company's recent financial performance, Mr. Soni said, "In spite of challenges in the industry on account of high volatility in cotton prices and currency fluctuations, we have managed to post performance much better than other players in this segment. Once the market stabilizes, we hope to deliver better performance in the coming quarters."

Sangam (India) Ltd

Must ReadView All

Courtesy: H&M

Apparel/Garments | On 30th Mar 2017

H&M group's sales increase 7% in 3 months to Feb '17

The H&M group's sales including VAT amounted to SEK 54,369 million...

Textiles | On 30th Mar 2017

India Inc should work for July 1 GST roll out: Fin sec

The Goods and Services Tax (GST) will take India into a very exciting ...

Textiles | On 30th Mar 2017

Lok Sabha approves 4 supplementary GST legislations

The Lok Sabha has approved four supplementary Goods and Services Tax...

Interviews View All

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search