Fabrics and garment exporter Mandhana, going for the expansion with investment of Rs350 crore. In the current year the company has earned profit of Rs35 crore and total turnover stood at Rs278 crore.
Company official informed Fibre2fashion that the projected target for fiscal year 2010 is Rs1000 crore. Company plans to add its existing manufacturing capacity by one million meters a day at Tarapur weaving plant. Further, there will be a design and development centre in Mumbai.
Mumbai-based Mandhana plans to set up three new garmenting units in Bangalore and Hubli, with a collective capacity of 36000 pieces a day. Firm is slated to be the third Indian company to have an Ammonia process plant during the course of Expansion. Company is also setting up a high-end fabric printing facility with 16-24 color and digital printing capabilities.
Construction for garmenting and processing units will start by April 2008 and company expects the former to commence within six months, though the latter facilities might take a year's time.
By beginning of next year company possibly will hit the capital market. It has already filed its red herring prospectus with the SEBI. Firm has also got Rs277 crore from Axis bank under TUFs.
Meanwhile, the management of Mandhana is working on strategy for the promotion of its existing brand 'CANVAS' in the domestic and international retail market.
Fibre2fashion, News Desk - India
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