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SEL bets crores for technical textile venture
06 Feb '08
2 min read
Ludhiana based SEL Manufacturing Company Ltd will venture for technical textiles this year to cater products like surgical gowns, gloves, masks, geo-textiles, upholstery, artificial leather, carpets, insulation material, wipes, baby diapers bandages and many other items.
This massive project will involve investment of around Rs650 crore which will be accumulated through loans, internal accruals and equity.
In an exclusive interview with Fibre2fashion, Mr Neeraj Saluja, SEL Managing Director, told, “Operations for technical textile will begin by December 2008 while short listing for machineries and financial appraisal is being considered simultaneously.”
Mr Saluja further reiterated saying, “We presently have 6 units, of which 4 are in Ludhiana, 1 at Ludhiana-Chandigarh road and the sixth one at khanna-padwal road. Operations for technical textile would be at the sixth unit, as it has a wide capacity of land to host technical textile operations.”
Last year, turn over for the company saw a growth of 71 percent at Rs231.31 crore from Rs 134.79 crore in the corresponding period of the previous fiscal year.
Successful export business with Europe, West Asia and Russia is preventing the company from being impacted by the adverse effects of rupee appreciation.
Presently, the company is implementing an expansion plan for setting up terry towel capacities, and a captive power plant for enhancing its existing spinning, knitting & dyeing facilities, with a capital investment of Rs410 crore. Moreover, with acquisitions and expansions lined up in the future, a top line of Rs2,000 crore is being aimed by the year 2010.
This massive project will involve investment of around Rs650 crore which will be accumulated through loans, internal accruals and equity.
In an exclusive interview with Fibre2fashion, Mr Neeraj Saluja, SEL Managing Director, told, “Operations for technical textile will begin by December 2008 while short listing for machineries and financial appraisal is being considered simultaneously.”
Mr Saluja further reiterated saying, “We presently have 6 units, of which 4 are in Ludhiana, 1 at Ludhiana-Chandigarh road and the sixth one at khanna-padwal road. Operations for technical textile would be at the sixth unit, as it has a wide capacity of land to host technical textile operations.”
Last year, turn over for the company saw a growth of 71 percent at Rs231.31 crore from Rs 134.79 crore in the corresponding period of the previous fiscal year.
Successful export business with Europe, West Asia and Russia is preventing the company from being impacted by the adverse effects of rupee appreciation.
Presently, the company is implementing an expansion plan for setting up terry towel capacities, and a captive power plant for enhancing its existing spinning, knitting & dyeing facilities, with a capital investment of Rs410 crore. Moreover, with acquisitions and expansions lined up in the future, a top line of Rs2,000 crore is being aimed by the year 2010.
Fibre2fashion News Desk-India
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