Home / Knowledge / News / Textiles / Sumeet Ind board reviews progress of commissioned projects
Sumeet Ind board reviews progress of commissioned projects
Oct '12
Sumeet Industries Ltd has informed that the Board of Directors of the Company at its meeting held on October 08, 2012, has taken place the following business:
1. Funds Raising Program
The Company has recently completed its 180.00 Crores expansion program for enhancing its spinning capacity for producing POY and FDY to 100000 TPA and setting up new 8.6 MW Captive Power Plant thereby enhancing total captive Power capacity to 17 MW.
The Board has decided to raise funds up to Rs. 100.00 Crores required for enhancing working capital due to capacity expansion and general corporate purposes. Funds will be raised though further issue of Equity Shares by way of FPO/ Rights/ QIPs/ ADRs /GDRs / Preferential Allotments to Strategic Investors.
2. Review of Progress of the recently Commissioned Projects
The Chairman intimated to the Board that Company has received overwhelming response in the quality of POY/FDY produced from recently commissioned project and full result of this project will be reflected from third quarter of the current year's operation. The Company is expecting its turnover will cross to Rs. 1000.00 Crores in the current financial year. 
Mr. Shankarlal Somani established Sumeet Industries Limited in 1989.  The company started as a yarn manufacturing unit and has now grown in a huge conglomerate with various businesses with an annual turn over of Rs. 3638 million. 

Sumeet Industries Ltd

Must ReadView All

Courtesy: UN Department of Public Information

Textiles | On 18th Jan 2017

World economy expanded by just 2.2% in 2016: UN

The world economy expanded by just 2.2 per cent in 2016, the slowest...

Textiles | On 18th Jan 2017

Schoeller unveils water-repelling fabric ‘bling’

Schoeller textiles, Swiss textile company, has released its new...

Textiles | On 18th Jan 2017

China lays out plan to boost foreign investment

The Government of China has outlined measures to boost foreign...

Interviews View All

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Amrit Sethia

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Ritu Kumar
Label Ritu Kumar

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

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

January 2017

January 2017

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


Browse Our Archives


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