BSL, a fabric manufacturer, plans to spend Rs 150 crore on capital expenditures in FY24, with a revenue target of Rs 700 crore

BSL, a fabric manufacturer, plans to spend Rs 150 crore on capital expenditures in FY24, with a revenue target of Rs 700 crore

31 December 2021, Mumbai:

BSL, formerly Bhilwara Synthetics, has set aside Rs 150 crore for expanding cotton spinning capacity at its facility in Rajasthan, with a revenue target of Rs 700 crore for the fiscal year 2023-24, according to a company spokesman. 

BSL's Managing Director Nivedan Churiwal told PTI that the capital expenditure (capex) will also help enhance sales and profitability.

"We're focusing on revenue, growth, and a healthy bottom line," he said, adding that the company will invest Rs 150 crore to boost cotton spinning capacity at its factory in Bhilwara, Rajasthan. In the fiscal year 2020-21, the company generated about Rs 321 crore in revenue from operations. 

Capex Images, Stock Photos & Vectors | Shutterstock

According to Churiwal, it has inked an MoU with the Rajasthan government, which would provide fiscal incentives in the form of interest subsidies.

BSL features verticals for tailoring, furniture, and yarn spinning. According to a corporate spokesman, suiting accounts for roughly 60% of annual income, whereas furnishing is the most successful area of business. 

Exports make for roughly two-thirds of total revenue, with domestic sales accounting for the remainder, according to Churiwal. Due to the COVID-19 epidemic, the corporation had to decrease employees and rationalise costs in the first quarter of the previous fiscal, he added.

 

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. 

Subscribe to our newsletter.

Author’s Posts

  • Tamil Nadu Textile Sector Begins Strong Recovery

    Tamil Nadu Textile Industry Shows Signs of Recovery
    After ...

    May 22, 2025

  • Shahid Kapoor Joins Taapsee Pannu for Vogue Eyewear India

    BRAND ANNOUNCEMENT | VOGUE EYEWEAR WELCOMES SHAHID KAPOOR, WHO JOINS TAAPSEE PANNU AS ITS BRAND AMBAS...

    May 22, 2025

  • 3rd Morocco International Yarn & Fabric Sourcing Show 2025

    3rd Morocco International Yarn & Fabric Sourcing Show 2025

    May 13, 2025

  • India’s Apparel Exports: Big Potential, Low Share

    Despite having the world’s second-largest vertically integrated textile industry, India’s share...

    May 05, 2025

  • CITI: India must engage U.S. on tariffs

    "Bridging the Information Gap in the Textile and Fashion Industry."

    DFU
    Inside Fashion Vol. 23 No. 2
    Azad
    EasiTex