Home / Knowledge / News / Textiles / Sumeet Ind board reviews progress of commissioned projects
Sumeet Ind board reviews progress of commissioned projects
09
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

Sanjay K Jain, managing director, TT Ltd

Textiles | On 21st Sep 2017

TT’s Sanjay Jain elected new chairman of CITI

The Confederation of Indian Textile Industry (CITI), the apex body...

Textiles | On 21st Sep 2017

NRF urges US lawmakers to lower corporate tax rates

The National Retail Federation (NRF) has written to the US Senate...

Apparel/Garments | On 21st Sep 2017

UK fashion exports £10.7 bn in 2016; highest till now

Exports of British fashion goods rose to £10.7 billion in 2016, the...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

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

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kerem Durdag
Biovation II LLC

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Prathyusha Garimella
Prathyusha Garimella

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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

September 2017

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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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