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Bannari Amman signs MoU for textile project in Tamil Nadu
11
Mar '14
Bannari Amman Spinning Mills Ltd., which already has its spinning division in Dindigul district of the southern Indian state of Tamil Nadu, has informed the Bombay Stock Exchange (BSE) that its wholly-owned subsidiary Abirami Amman Mills Private Limited has signed a memorandum of understanding (MoU) with the Tamil Nadu Government for setting up a textile project near Dindigul, the BSE said on its website.
 
Established in 1995, the SV Arumugam promoted company Bannari Amman has spinning, weaving, garments, knitting and processing divisions.
 
The spinning division has a capacity to produce more than 60 tons/day of Combed & Carded ring spun yarn from 6/s to 40/s count, mainly hosiery yarn for knitting market.
 
The weaving division has capacity to produce all kinds of woven fabrics in 100% cotton, in various thread counts (TC) ranging from 500 TC to 1000 TC, in wider width up to 140 inches, with warp counts up to 90s Ne, with 250 threads in 1 inches and weft counts up to 120s Ne, with 2, 4 and 8 pick insertions, according to the company’s website.
 
In financial year 2012-13, Bannari Amman’s total income from operations was Rs. 559.71 crores and its net profit stood at Rs. 27.31 crores.
 
In the quarter ended December 2013, the company’s unaudited total income from operations was Rs. 174.89 crores, with net profit being Rs. 6.13 crores.
 

Fibre2fashion News Desk - India

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