Home / Knowledge / News / Textiles / Sumeet Industries to invest Rs 1.25 bn for expansion
Sumeet Industries to invest Rs 1.25 bn for expansion
13
Oct '08
Sumeet Industries Ltd is going to set up fully imported one C.P. Plant (Continuous Poly Condensation Plant) of 100000 Tons per annum capacity under technical guidance of M/s. Huitong Chemical Engineering Technique Co. Limited, China and 10 another lines of Polyester POY / FDY Spinning Plant with annual installed capacity of 48300 Tons per annum as expansion cum backward integration project with total cost of Rs. 125.00 crores.

Under this project POY / FDY will be produced directly from MEG and PTA which will reduce cost substantially and will also be very much competitive and the company will be in a position to compete in the market in its price strategy with its peer group.

Apart from its cost advantages, company can ensure good consistent quality of POY produced on CP Lines because product will be much better than existing product. The Company is also in the process of setting up another 6 MW captive power plant nearby its existing unit for its proposed project.

Part of the imported machineries has been arrived at the factory site and L/C. for other plant & machineries has been opened and in the process of shipment. The civil work at the new project site is going on with full swing and the commercial production will be commenced around in March,2009.

Exports:
The company has been exploring all the possibilities for exporting its products. At present company is exporting Polyester & Menthol products to South Africa, Bangladesh, Egypt, Nepal, Saudi Arabia, China & Singapore etc. The company has exported Polyester Yarn of Rs. 220.60 Lacs and Menthol Products of Rs. 1291.65 Lacs during the financial year under review consisting around 12% of total sales made by the company.

Operations:
During the financial year 2007-08, the company has produced 14555.06 Tons of Polyester /Polypropylene Multifilament Yarn achieving 113% capacity utilization and dispatched 14656.90 Tons of P.P. / Poly yarns. The Company has manufactured 4122.261 Lacs Mtrs of Polyester Fabrics achieving 117% capacity utilization and dispatched 3985.237 Lacs Mtrs of Polyester Fabrics. The company has also produced 255.344 Tons of Menthol Products.

Income from operation of the company has increased by 15% and net profit after tax has increased by 9.11% in comparison to last year.

Being to part finance the proposed project by internal accruals management has decided to plough back the profit in to business and hence no dividend is recommended by the Board.

Sumeet Industries Ltd

Must ReadView All

President Tsai Ing-wen delivering remarks before boarding her plane bound for Central America. Courtesy: Presdient's office

Textiles | On 16th Jan 2017

‘Textiles at centre of Taiwan’s new trade arrangements’

Textiles should be at the heart of Taiwan’s thinking while developing ...

Apparel/Garments | On 16th Jan 2017

Ralph Lauren develops policy on tracking wood based fabrics

In a bid to trace source of wood based fabrics like viscose and rayon ...

Apparel/Garments | On 16th Jan 2017

EC proposes enhanced market access for Sri Lanka

The European Commission (EC) has proposed that a significant part of...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Kerem Durdag
Biovation II LLC

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

Giorgio Mantovani
Corman S.p.A

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Rupa Sood and Sharan Apparao
Nayaab

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

Karan Arora
Karan Arora

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


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