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Banswara Syntex bags order worth Rs20cr

Mar '07
Banswara Syntex Limited (BSL), a vertically integrated textile company has announced that the company has bagged export orders recently worth Rs. 20 crore, thus taking the total export order book position to Rs. 60 crore as on March 14, 2007. The company has bagged these fresh export orders to supply high- value fabrics, yarn & garments. These orders are to be executed in the next 3 months.

Mr. R L Toshniwal, Chairman and Managing Director, BSL said, “We believe that the change in product mix will enhance revenue growth whereas the efficiencies arising out of scale will fuel margin growth. Hence, Banswara Syntex' revenue concentration moves away from yarn to garmenting.”

Meanwhile, company's Rs 220 crore expansion plans has progressed on schedule with installation of 16,000 polyester viscose spindles and 16 weaving looms and additional 75,000 trousers at Daman. Post expansion, the total installed capacity would stand at 1,22,000 polyester viscose spindles, 18,000 cotton spindles and 184 weaving looms and processing machines.

Installation of garmenting facility at Surat SEZ is also on track with capacities of 1,50,000 trousers and 30,000 jackets per month. Further, the construction of 15-18 MW thermal power plant project is also on schedule and is expected to streamline power generation by April 2007.

“Going forward we expect a huge jump in our operating margins due to lower cost of power”, added Mr. Ravi Toshniwal, Joint Managing Director, Banswara Syntex limited.

Banswara Syntex Limited

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