Textile machines manufacturer Lakshmi Machine Works Ltd (LMW) expects sales during 2006/07 to increase 40 percent and plans to invest Rs1.5 billion to enhance capacity as orders from Indian mills swell, Chief Financial Officer R Rajendra revealed.
The shift in textile production to low-cost countries helped the company in increasing its revenue to Rs30 billion, or 5 million spindles in the last 12 months, Rajendran added.
LMW also expected that the sales for year ended March 2006 would rise 30 percent to reach Rs13 billion.
Company would increase yarn machine capacity from 1.8 million to 2.7 million spindles within two months, Rajendran said.
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