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RSWM set to expand focus on India & Europe

Feb '07
RSWM Limited (RSWM) is set to expand its operations with a focus on India and Europe. The plans include a buy out of spinning capacities between 50,000-100,000 spindles in India for upto Rs 200 crore. A further Rs 50 crore may be spent on an acquisition of a European specialized yarn maker.

Commenting on the expansion, Mr. Riju Jhunjhunwala Joint Managing Director, RSWM said “There is an increasing need for smaller operations out of Europe to partner with Indian units. This would not only be cost effective to both the parties but it would also add value to the companies.”

“We do sell cotton mélange yarn at a certain price, the foreign firms value add and market the same yarn at 2-3 times of the cost, it is therefore a good preposition to partner them for value added yarns”, Mr. Jhunjhunwala further added.

The company is looking forward to the commencement of its Denim manufacturing facility, to its existing range of products in the near future. RSWM is eyeing high end denim market in India and overseas territory for its new product line in denim.

The quarter ended December 31, 2006, saw the net sales increase by 7.8% to Rs. 2,715 million as compared to Rs. 2,520 million last year. Cash profits increased to Rs. 257 million from Rs. 201 million, a rise of 27.9% and CEPS was better at Rs. 11.10.

Rajasthan Spinning & Weaving Mills Ltd, India

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