Home / Knowledge / News / Textiles / Sangam India completes its Rs.180 crore expansion project

Sangam India completes its Rs.180 crore expansion project

29
May '12
Sangam (India) Ltd, a leading polyester-viscose dyed yarn manufacturer, announced that the company has completed its Rs 180 crore expansion project to double its denim capacity to 32 million metres, following the commissioning of its second denim Ii ne of 8 meters.

AS a part of expansion plan, the company has set up a two lines of denim for 8 million each. The first line commenced production in November 2011. While the second line commissioned recently.

The company has installed 2,304 rotters for open ended spinning along with of 3000 mtpa knitting capacity and 7200 mtpa texturizing yarn capacity at its existing facilities at Bhilwara in Rajasthan. The company has also modernised its processing division by replacing new processing machines. The Rs 180 crore expansion project has been finance~thr9lJgh a mix,term loan and Internal accruals.

Commenting on the development, Mr R P Soni, Chairman, Sangam (India) said, "With completion of this expansion project, we plan to launch special fancy denim and enter high value added products like cotton Lycra, which offer better realisation and have a high demand.” He further added, "Going forward, the new capacity expansion will help the company to generate additional revenues in excess of Rs 300crore annually.”

For the financial year ended March 31, 2012, Sangam (India) registers Rs. 20.97 per cent rise in net sales at Rs 1,417.22 crore compared to Rs 1,171.52 crore in the previous year ended March 31, 2011.

Net profit stood at Rs 17.08 crore for the period ended March 31, 2012 compared to Rs 56.59 crore in the previous year ended March 31, 2011. Export revenue of company has been increased by 21 % to 308.22 crore.

Net sales grew by 28.31 per cent at Rs 395.10 crore for the quarter ended March 411, 2012 asc6'mpared to Rs 307.92 crore in the previous quarter. Net profit stood at Rs.6:0S crare as compared to a loss Rs. 1.84 crore in the previous quarter.

Commenting on company's recent financial performance, Mr. Soni said, "In spite of challenges in the industry on account of high volatility in cotton prices and currency fluctuations, we have managed to post performance much better than other players in this segment. Once the market stabilizes, we hope to deliver better performance in the coming quarters."

Sangam (India) Ltd


Must ReadView All

Pic: Shutterstock

Textiles | On 27th Jul 2021

Freeze branding not non-mulesed in new Oz National Wool Declaration

Australian wool exporters have backed a revised National Wool...

Pic: Shutterstock

Apparel/Garments | On 27th Jul 2021

Jordan's garment industry showed 'resilience' during pandemic: Report

Jordan's garment industry did not witness the pandemic’s worst...

Pic: Shutterstock

Textiles | On 27th Jul 2021

Prime Content| Malaysian cotton trade to pick up as world recovers from COVID-19

Malaysian cotton trade is on a rise due to recovery from the pandemic ...

Interviews View All

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Cannot see the world breaking away from cotton & polyester

Textile Industry, Head honchos

Textile Industry
Head honchos

Main challenges are breakdown of supply chain and shrinkage of manpower

Textile Industry, Head honchos

Textile Industry
Head honchos

Fabric selection & recommendation based on client's brief

Meghavi Suthar,

Meghavi Suthar

Founded by NIFT graduate <b>Meghavi Suthar </b>in 2017, Kala is an...

Shambhu Nath Jha,

Shambhu Nath Jha

Leading research and consulting firm Fact.MR recently launched a report on ...

Erwin Devloo,

Erwin Devloo

The Picanol Group is a diversified industrial group active worldwide in...

Asif Rahman, MIP

Asif Rahman
MIP

MIP is a manufacturer and distributor of high-performance textiles and...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

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