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Lakshmi Cotsyn to invest Rs3.5 bn for phase III expansion plan
17 Jun '08
2 min read
Shri Lakshmi Cotsyn Limited (SLCL), Kanpur based technology driven, end to end textile solution company, plans to further increase its on-going expansions plans by Rs 350 crore aggregating to Rs 809 crore.
Under its phase III expansion plan, the company plans to add 12,000 MT capacities in Terry Towel and 12 MW co- generation agri-based power plant for 100 percent captive consumption.
With this expansion plan, SLCL will become the second largest producer of terry towels in India with the total capacity of 15,000 MT by March 2009.
The increased capital expenditure would be financed through term loans under TUFS (Textile Upgradation Fund Scheme), Equity/FCCB/Warrants and internal accruals.
The company has already completed its Rs. 264 Crore project for terry towel, bed sheets, denim and bottom weight, Rs. 125 crore project for nylon and home furnishing and Rs.70 crore project for garments in the past two years.
The company's order book position as on June 13, 2008 is Rs 167.32 crores. These orders are to be executed in the next two months.
Elaborating on company's expansion strategy, Dr M P Agarwal, Chairman and Managing Director, Shri Lakshmi Cotsyn Limited said, “We believe that Shri Lakshmi Cotsyn, post its Phase III expansion, with its large scale facilities, fully integrated operations and a diversified rich product mix, will significantly benefit from both the export and domestic opportunities.”
Under its phase III expansion plan, the company plans to add 12,000 MT capacities in Terry Towel and 12 MW co- generation agri-based power plant for 100 percent captive consumption.
With this expansion plan, SLCL will become the second largest producer of terry towels in India with the total capacity of 15,000 MT by March 2009.
The increased capital expenditure would be financed through term loans under TUFS (Textile Upgradation Fund Scheme), Equity/FCCB/Warrants and internal accruals.
The company has already completed its Rs. 264 Crore project for terry towel, bed sheets, denim and bottom weight, Rs. 125 crore project for nylon and home furnishing and Rs.70 crore project for garments in the past two years.
The company's order book position as on June 13, 2008 is Rs 167.32 crores. These orders are to be executed in the next two months.
Elaborating on company's expansion strategy, Dr M P Agarwal, Chairman and Managing Director, Shri Lakshmi Cotsyn Limited said, “We believe that Shri Lakshmi Cotsyn, post its Phase III expansion, with its large scale facilities, fully integrated operations and a diversified rich product mix, will significantly benefit from both the export and domestic opportunities.”
Shri Lakshmi Cotsyn Limited
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