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Chiripal's Nandan Exim to expand denim production capacity
27
Sep '12
Nandan Exim Limited has recorded revenue of Rs.573 crore and net profit after Tax of Rs. 19 crore for the financial year 2011-12. The Company has also recorder first quarter revenue of Rs. 175 crore and Net Profit after Tax of Rs. 6.55 crore, showing growth of 25% in terms of revenue and net profit after tax. 

Looking to the growth of the company, the company has declared a final dividend of 10% on equity share for the year 2011-12. 

Further, the Central Government has also extended Restructured - TUF Scheme up to 31st March 2013, wherein Textile Industries are eligible for 5% Interest Subsidy and 10% Capital Subsidy on certain machineries. Apart from the above, the Gujarat Government has also come-out with the scheme to boost up the textile sector wherein 5% to 7% Interest Subsidy and VAT refund to the extent of investment in Plant & Machinery and Re. 1 per unit power subsidy. 
 
Now, looking to the encouraging Central and Gujarat Government schemes for textile sector, the company has planned to enhance the production capacity by making the Capital Investment of Rs. 250 crore, which will be implemented within period of one year. Out of the total expansion of Rs. 250 crore, the financial tie-up of Rs. 175 crore has already been made and balance tie-up will be completed by December 2012. Post expansion, the company's capacity will reach to 100 million meter per annum from the existing 60 million meter per annum. Accordingly, turn-over will cross to Rs. 1000 crores.
 
Pursuing its ambitious plans of expansion, Chiripal Group laid foundations of an ultra-modern 100% cotton & blended bottomwear fabrics and the most modern & versatile denim manufacturing project called Nandan Exim Limited. 

Nandan Exim Limited


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