Shri Lakshmi Cotsyn unleashes Rs 264cr expansion plan
12 Jul '05
1 min read
Leading textile caompany based at Kanpur Shri Lakshmi Cotsyn Ltd unleashed expansion plans worth Rs 264 crore to establish new plant.
The new plant is expected to be fully functional by June 2006. This plant is being developed to produce denim, terry towel, bed linen and cotton suiting segment.
The company plans to get Rs 182 crore through loans, Rs 62 crore through equity and the rest Rs 17 crore through internal borrowings to raise fund for the expansion plan. After completion of new plan, the total capacity of the company will increase to 62.5 million meters per annum.
The company anticipates reaching at a turnover of Rs 646 crore in the first year of the new unit's operation in 2006-07.
Chairman and MD of Kanpur Shri Lakshmi Cotsyn Ltd informed that at plant is used at 90 per cent of its capacity, the company will be able to attain turnover of Rs 1000 crore.
At present company's existing range includes blended, quilted and embroidered fabrics, fusible interlining and specialized technical textile fabrics for defence and para military forces.
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