Spentex plans to augment its facilities & turnover to Rs 575crs
20 Sep '05
1 min read
Spentex Industries Ltd, with major interests in textiles, plans to increase its turnover from Rs 450 to Rs 575 crores by year 2006-7.
When implemented completely, by June 2006, its yarn production is estimated to go up by from the present 1,275 tons to 2,200 tons a month. Spentex produces more than 6 million meters of fabric per annum.
Knitting, dyeing, processing & garmenting capacities were in for expansion but currently, spinning capacities expansion will be focused upon, at present.
The unit currently has 30,000 spindles with Rs 120 crore-planned investment at its Baramati unit, the capacity would rise up to 36,000 spindles. Total spindles are set to rise to 50,000, up from 14,200 spindles with the recent upgradation of their Sholapur unit.
On cards is the purchase of two textile units with approximately 75,000 spindles capacity for which Rs 125 crores have been allocated according to Managing Director Mukund Choudhary, in next coming three months.
Choudhary said that company turnover will cross Rs 700 crore mark by 2007, if these two units were purchased with company focus on spinning capacity and later move to other venture.
marketing@alchempro.com
