29th July 2021.Mumbai:
Sangam India is planning a capacity expansion of 32,832 spindles for manufacturing cotton yarn at its spinning unit in Bhilwara, Rajasthan.
The total cost of the project will be Rs 137.25 crores, to be funded partly by term loans of Rs 102 crores and the balance by internal accruals.
Sangam India is the largest producer of PV dyed yarn in Asia at a single location.
It is also a forerunner in manufacturing ready to stitch fabric with an annual capacity of 30 million meters of fabric and 40 million meters of denim. Sangam has more than 2,00,000 spindles and 3000 rotors.
The group has diversified into infrastructure, power, steel and, recently the seamless garment industry.
The group has introduced a seamless garment manufacturing facility with 36 seamless knitting machines that have the capacity to produce 3.6 million pieces a year.
The product range basically comprises garments in various blends such as polyamide, spandex and polypropylene and also natural fibers such as bamboo, cotton and viscose.
The company reported a total income of Rs 41,215 lakhs in the quarter ended June 2021 compared to Rs 11,029 lakhs in the June 2020 quarter.
The company made a profit after tax of Rs 1322 lakhs compared to a net loss of Rs 3217 lakhs previously during the same period.
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