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

Turkish-Algerian JV to set up textile unit in Relizane

Textiles | On 17th Jan 2018

Turkish-Algerian JV to set up textile unit in Relizane

Construction of one of Africa's largest textile production...

Courtesy: Indorama Ventures

Textiles | On 17th Jan 2018

IVL, Huvis to enter JV for Low Melting Fibre plant in US

Indorama Ventures Limited (IVL), a global chemical producer, and...

Future Group to set up garment manufacturing in Bengal

Apparel/Garments | On 17th Jan 2018

Future Group to set up garment manufacturing in Bengal

Kishore Biyani-led Future Group is going to set up a garment...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Urmil Arya

Sushila International, a well established textile organisation established ...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kevin Nelson
TissueGen

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

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

January 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.8%
No
13.5%
Skip
17.7%

Total Votes: 96

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.5%
No
29.2%
Skip
7.3%

Total Votes: 96

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.5%
No
9.4%
Skip
3.1%

Total Votes: 96

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.3%
No
8.3%
Skip
9.4%

Total Votes: 96


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search