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Shri Lakshmi Cotsyn to enhance terry towels capacity

Sep '12
Shri Lakshmi Cotsyn Ltd (SLCL), one of India’s premier manufacturers of home furnishing products, plans to invest Rs. 13 billion for enhancing capacity of its various segments, including terry towels, by December 2013.
Rakesh Kumar Srivastava, Company Secretary of SLCL said around seven billion rupees would be spent on enhancing production of terry towel capacity from the present 15,000 tons per annum (tpa) to 33,000 tpa. 
Another six billion rupees would be utilized for increasing capacity of yarn spinning operations. The company, which presently operates spinning unit with 35,000 spindles and 5,000 rotors, intends to add 150,000 new spindles and 5,000 rotors at a cost of six billion rupees, to cater to the overall demand, he said.
The existing capacity of 45 tons per day satisfies only 35 percent of the company’s overall yarn requirement of 150 tons per day, Mr. Srivastava said.
The company, which has already invested Rs. 1.35 billion in the business, intends to fund the terry towel capacity enhancement through internal accrual of Rs. 2.15 billion and bank loans of Rs. 4.85 billion, he added.
SLCL undertakes production of terry towels at its Abhaipur facility in Fatehpur district of Uttar Pradesh. Besides terry towels, SLCL also produces several other home furnishing items like cotton fusible interlining, denim fabric, bed linen and technical textile products.

Fibre2fashion News Desk - India

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