Jay Shree Textiles, a wholly-owned subsidiary of Aditya Birla Nuvo, plans to increase the turnover of its textile business in the next four years, said a top company executive.
At present, the textile division has a turnover of Rs 300 crore and the company wants to double it to Rs 750 crore in the next 4-5 years, said S Krishnamoorthy, president of textile, Aditya Birla Nuvo.
The company is also planning to increase its production capacity for linen fabric by 30 to 40 per cent, he said. Its present capacity stands at nine million metres per annum “The plans is still in its proposal stage and the expansion will be done at its existing unit at Rishra in West Bengal, as it has room for expansion,” he added.
The company is also planning to increase the stores to 60 from 46 and sales is expected to grow at 15 per cent in the current fiscal. The focus remains on brand building and the company will invest five per cent of its total turnover for advertisements. In the last 6 months the company has raised the price of linen by seven per cent and has no plans to increase it any further till end of the festive season. Linen fabric price at the retail outlets is between Rs 500 and Rs 2,500 a metre.