Polyester-viscose dyed yarn manufacturer Sangam (India) has changed its expansion policy and pumped in additional Rs141 crore to its investment kitty of Rs400 crore.
In order to increase its production capacity, the company has added 40 weaving machines, set up a new 21 MW thermal power plant for captive consumption and puirchased new processing machinery, a senior official of Sangam India informed the media.
The official also stated that in Q3 FY, company recorded a huge growth of 62.65 percent in its net profit to Rs6.75 crore compared to Rs4.15 crore during the same period during the last FY.
Company also registered increased net sales of 6.23 percent to Rs82.65 crore in as against Rs77.80 crore sales recorded during the same period in the previous year.
Operating profit margins enhanced by 13.49 percent to 16.28 percent while exports expanded by 156 percent to Rs18.63 crore against Rs7.27 crore for the same period last year.
marketing@alchempro.com
