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KSICL expanding facilities to attain Rs 1bn turnover in FY 12

11
Feb '11
Karnataka Silk Industries Corporation Limited (KSICL), a company managed by the Karnataka state government is targeting one billion rupees in revenue for the next 2011-12 fiscal, through expansion of its production facilities.

The company which already possesses a production unit at Mysore for almost a century now is setting up another manufacturing facility at Janapatnam in Ramnagar district, at a distance of 90 km from Mysore.

The first phase of this new production facility is almost towards completion.

The Corporations' gross earnings for the last 2009-10 fiscal amounted to Rs 670 million, whereas it is projected at Rs 800 million for the current fiscal. The Corporation is eyeing to attain a target of one billion rupees in revenue during 2011-12 fiscal.

The existing plant at Mysore, which commenced its operations in 1912, today houses 139 powerlooms and engages 871 workers to produce 75,000 sarees each year.

The Corporation engages in production of shirts, sarees and other apparels, and vends the same through 16 outlets.

The sari woven in gold and silver threads, which is a brand for the Corporation, serves to be a great enticement for public. The Corporation this year weaved 60 such sarees with their prices ranging between Rs 7,000 to Rs 2.5 lakh. 50 of these 60 sarees have already been sold out.

Fibre2fashion News Desk - India


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