Finally, with a resurgent domestic economy driving consumption across all sectors and with buoyant Indian textile exports, the future augurs well for strong, cost efficient large scale polyester producers.
Commenting on the results, Mr. O.P. Lohia, Chairman and Managing Director, IRSL said, “ We have always been excited about the fundamental strength and prospects of India's synthetic fibres industry and had anticipated the imminent cyclical upturn. Our investment in doubling capacity at our plant in Butibori not only demonstrates this confidence but also positions us to generate significant stakeholder value because of the project's appropriate timing.
Commercial production from the new facility will commence in a phased manner between July and September '06. As a reflection of our conviction on the strengths of the polyester industry in India, we decided to reward the shareholders with a 30% (Rs.3/- per share) dividend for the year.”
Indo Rama Synthetics (India) Limited (IRSL) is the country's largest dedicated polyester manufacturer with an Integrated Manufacturing Complex at Butibori, near Nagpur in Maharashtra producing around 350,000 tonnes per annum of Polyester Staple Fibres, Filament Yarns, Textured Yarns and Textile grade Chips.
Indo Rama Synthetics (India) Limited
marketing@alchempro.com
