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Nitin Spinners commences production at expanded facility
17
Feb '17
Courtesy: Nitin Spinners
Courtesy: Nitin Spinners
Nitin Spinners Ltd has successfully completed trial runs on expanded capacity of 72,960 compact spindles and has commenced commercial production. Post-expansion, the total number of spindles and rotors at Nitin Spinners has increased to 2,23,056 and 2,936 respectively. The company posted EPS of Rs 3.31 for the quarter ending December 2016.
 
"After this expansion, the company's production capacity has increased from 38,000 tons per annum (TPA) to 50,000 TPA of cotton yarn and 8,500 TPA of knitted fabrics," the company said in a press release.
 
"The company will be able to produce super fine compact premium yarns in the new facilities which will increase its product range and its ability to cater to varying demands of customers and increase its customer base," the release added.
 
Nitin Spinners makes cotton yarn in single, multi-fold slub, compact, core spun and Elitwist yarns. About 65 per cent of its production is exported to over 50 countries including the US, EU, Africa, Middle East and Far East.
 
For the quarter ended December 31, 2016, Nitin Spinners reported turnover of Rs 248.24 crore, registering an increase of 30.34 per cent from the turnover of Rs 190.45 crore during the corresponding quarter in previous year. The turnover for the nine months ended December 31, 2016 increased by 12.43 per cent to Rs 648.79 crore from Rs 577.05 crore in the corresponding period in previous year. (RKS)

Fibre2Fashion News Desk – India


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