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Rupa & Co to venture into readymade garment production

14
Dec '10
Rupa & Co Ltd is trying to raise resources from the capital market so that it can venture into the ready-to-wear garments and launch other new textile products. Currently, it is the biggest hosiery company of India.

The company revealed that it is intending to make use of the capital market in order to draw resources for expansion and diversification into readymade apparels and non-hosiery segments.

The company will need Rs 100 crore at the minimum in order to foray into the ready-to-wear garment segment and for establishing a new printing and dyeing unit. The company also is planning to launch its brand in several countries of Africa and South Asia.

According to the Chairman of the company – P R Agarwala, the company has plans to initiate the production of jeans and several other textile products as their demand is rising in the market.

The company had witnessed a net profit of Rs 25.23 crore in the last fiscal year, which was 77 percent more than that of the previous year. In spite of the pressure imposed by the raw material that is hike in the prices of cotton yarn, the company is optimistic about recording a better growth and higher profit in the present fiscal year.

Fibre2fashion News Desk - India


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