The leading textile process house of India, Chiripal Industries Ltd, is one of the biggest companies that provide complete range of textile products starting from yarns to retailing.
The Ahmedabad based company in an expansion spree, has planned to amplify its production capacity of filament yarns up by 20 percent from existing 43,700 tons per annum.
In an exclusive interview with Fibre2fashion, Mr Vishal Chiripal, Director of Chiripal Industries Ltd said, “We have plans to increase the manufacturing and processing of partially oriented yarn (POY), polyester texturised yarn (PTY) and fully drawn yarn (FDY) under our units like Shanti Processors Ltd and Chiripal Petrochemicals Ltd”.
Chiripal has already expanded its denim and spinning operations under Nandan Exim Ltd, by investing nearly Rs328 crore.
Presently, the Group has a manufacturing capacity of 30 million metres per annum of denim fabrics, and further, plans to add another 10 million metres. Besides, it has also lined up to increase its cotton yarn spinning capacity from 30 tons per day (tdp) to 50 tpd, apart from setting up a 15-Mw captive power plant. These expansion activities are likely to be completed by the end of 2008.
To meet this purpose, Chiripal has decided to raise around Rs100-115 crore through an initial public offering, by entering the capital market. The group foresees to take its turnover from Rs1,200 crore toRs2,000 crore with in a period of next three years.