Home / Knowledge / News / Textiles / Siyaram's to expand fabric & garment production capacity

Siyaram's to expand fabric & garment production capacity

01
May '12
Siyaram's, a major producer of blended fabrics in India, has decided to expand its fabric and garment production capacity to cater to ever rising demand for branded products and readymade garments.

The company intends to spend Rs. 1.6 billion for the expansion that is intended to kick off in August or September this year. The funds would flow from internal accruals and debt capital.

The expansion is intended to increase the firm's existing fabric production capacity of 55 million metres per annum by around one million metres per month or about 12.5 million metres per annum.

It plans to increase its existing garment capacity of 250,000 pieces per month to 320,000 pieces per month.

Alongside capacity expansion, the firm intends to add 40 new outlets to its existing network of 100 exclusive outlets during the current fiscal. This would be mainly implemented through the franchise route, and the company would be investing only around Rs. 30 million for the purpose.

The Mumbai-based company enjoys a 20 percent share in the Rs. 60 billion organized retail market in India and owns brands like Oxemberg, Siyaram MSD and J Hampstead.

It runs four weaving and dyeing plants at Tarapur in Maharashtra, two garment production facilities at Daman and one weaving facility at Silvasa.

Siyaram's plans to clock a minimum 15 percent rise in its net sales for 2012-13. Last fiscal, the company registered net sales of Rs. 9 billion, which it intends to grow to Rs. 11 billion during the current fiscal, with garment business contributing Rs. 2 billion to the same.

Also, it expects to see its gross turnover 15 percent above its net turnover.

Siyaram's has targeted its exports, which are majorly towards West Asia, to grow from last year's Rs. 500 million to Rs. 750 million this year.

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 5th Aug 2021

US manufacturing activity grows in Jul; textile mills report fall: ISM

Economic activity in the US manufacturing sector grew in July, with...

Pic: Shutterstock

Textiles | On 5th Aug 2021

UK inflation to hit 3.9% in early 2022, 2% in 2023, predicts NIESR

UK consumer price inflation will reach 3.9 per cent early next year,...

Pic: Shutterstock

Retail | On 5th Aug 2021

Walmart again ranked largest firm by revenue, Amazon 3rd: Fortune

Walmart has been again ranked the largest company in the world by...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

The pandemic has reinstated need for organised retail spaces in Tier II...

Textile Industry, Head honchos

Textile Industry
Head honchos

Great step towards realising end goal of 'AtmaNirbhar Bharat'

Textile Industry, Head honchos

Textile Industry
Head honchos

Donating 20,000 N95 masks to hospitals & NGOs

Chendhuran Sundar,

Chendhuran Sundar

It manufactures and retails menswear garments in India under the brand...

Sanjay Vakharia,

Sanjay Vakharia

One of the first few Indian denim brands, Spykar, established in 1992, was ...

Akram Tariq Khan,

Akram Tariq Khan

E-commerce brand YourLibaas meaning "garment or attire" in Udru, was...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Jacques Prigneaux, EDANA

Jacques Prigneaux
EDANA

EDANA has been the leading global association and voice of the nonwovens...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

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

Leave your Comments


July 2021

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


Advanced Search