Abhishek Ind expects 40% rise in profit for 2006/07
30 May '06
1 min read
Textile company Abhishek Industries Ltd estimates its sales and profit to increase 40 percent in 2006/07 following expanded capacity and more orders from the US and European retailers, informed senior official.
After increasing capacities, Company expects to cross Rs12 billion in sales and register a profit growth of 40-50 percent in next two years, informed Rajendra Gupta, Managing Director of Abhishek Industries.
Terry towels accounted for about 56 percent of the company's total sales in 2005/06. The company also makes yarn and paper.
Company has invested Rs900 crore in two year to expand its yarn and weaving capacity. Company's capacity will be double to 130,000 spindles and 268 weaving looms by July, Gupta stated.
Indian textile companies are now eying on to capture $70 billion global home textile market by implementing cost effective production measures.
Company has appointed international consultancy for feasibility study and search development options.
Abhishek Industries is a large corporate business house having a turnover of more than Rs10 billion and having global operations.
Group interests include textiles, paper, chemicals, co- generation of power for captive use, construction and IT.
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