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Sangam ( India) net profit up by 74.09% for Q2 ended Sept '06

31 Oct '06

3 min read

"We are witnessing an accelerated growth in the dyed polyester-viscose yarn segment. Higher Volume growth following better demand from international & domestic market the company is looking forward to get more revenue in value added product."

"Despite of higher provisioning for depreciation and interest for ongoing expansion the company has been able to increase operating and net profit margin substantially,” said Mr R P Soni, Chairman, Sangam (India) while commenting on company's financial performance.

The company's on-going expansion plan of 97,000 spindles, 140 looms, coal based captive thermal power plant with a capacity of 21 MV and fibre dyeing capacity of 30 MT with processing capacity of 50000 meters per day has progressed as per schedule. By September 30, 2006, 31,200 cotton spindles, 19,200 PV spindle and 110 weaving machines have become operational.

Meanwhile, the board of director's has approved third phase of expansion and diversification programme of installation of additional 51840 spindles and 12 knitting machine for value addition in cotton yarn segment under TUFS having an outlay of Rs.167.40 crore. While the legal process of amalgamation of SPBL Limited with the company is being carried out as per schedule.

Click here to view Sangam India Q2FY07 results.

Sangam India Limited

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