Hanung Toys and Textiles Ltd (HTTL), manufacturer and exporter of soft toys and home furnishings is going to set up a weaving plant in Uttaranchal with a capital investment of Rs160 crore.
Ashok Kumar Bansal, CMD, HTTL said, its latest unit near Roorkee, is likely to start operation soon, with a weaving capability of 21,000 metres per day, while processing capacity will be Rs1 lakh metres per day and are looking for 16,000 finished sets per day.
Company develops around 20,000 metres per day in its two plants in Noida although previously, it used to import its woven cloth from overseas.
Upon setting up of the new plant in Uttaranchal, the company will be weaving 21,000 metres per day in India itself and will manage the mounting boom in the retail segment.
A K Gupta, Vice-President Sales and Marketing, HTTL said, they have rivalry only from the textile sector and are the only company in the organized sector as far as toys sector is concerned.
The company has three manufacturing units in Noida including a soft toy, a fabric processing and a making up section.
The yearly assembly capacity of the fabric processing and making up section is 60 lakh metres and 12.50 lakhs sets correspondingly.
Hanung described a turnover of Rs150 crore in the previous financial year, with the soft toys section share at Rs97 crore and home textiles at Rs53 crore.
HTTL has a domestic market size of 20 percent at Rs600 crore, while its status in the international market is over $2 billion.
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