Sangam to export yarn to Europe, Africa

Rajasthan-based Sangam (India) Ltd, one of the largest polyester-viscose dyed yarn manufacturers in India, has bagged new orders worth Rs 40 crore, thus taking the total order book position to Rs 110 crore as on March 31.

The company has bagged fresh export orders worth Rs 20 crore from countries like Turkey, Egypt, Poland, and UK. The rest Rs 20 crore orders are from large domestic manufacturers. These new orders are to be executed in the next three months.

Meanwhile, the company has recorded a 100 per cent growth in sales at Rs 173 crore in the financial year 2006-07 compared to Rs 86 crore in corresponding period previous year. Exports sales of yarn increased from $11.5 million to $ 25.4 million while exports of fabrics surged from $ 8.4 million to $12.2 million.

Elaborating on company's export strategy, R P Soni, chairman, Sangam (India) Ltd said,"We are witnessing a swift acceptance of our polyester-viscose dyed yarns and fabrics worldwide. Further, the company is exploring the new markets and enhanced customer-base in more than 30 countries."

"During the financial year ended March 31, 2007, company has achieved exports sales of Rs 173 crore. Going forward, we plan to enhance our presence in European & US markets in line with our growth strategies."

Sangam (India) posted 68.32 per cent rise in net profit at Rs 28.11 crore for the nine months period ended December 31, 2006 compared to Rs 16.70 crore in the corresponding period previous year. Net sales increased by 61.22 per cent to Rs 385.13 crore compared to Rs 238.89 crore during the same period previous year.

Meanwhile, the company's Rs 707-crore expansion plan has progressed on schedule. Promoted by first-generation entrepreneurs R P Soni and S N Modani, Sangam (India) is one of the largest manufacturers of polyester dyed yarn in the country.

At present, Sangam (India) has 100320 spindles of polyester-viscose dyed yarn and 31,200 spindle on cotton yarn installed in Bhilwara along with 237 weaving machines and a 10 MW thermal power plant. The company also has strong presence in the Indian synthetic blended fabric segment with brands like Anmol and Sangam.

The company has an established client base like Reliance BSL, S Kumars, Reid & Taylor, Siyaram and Grasim. Its fabric is marketed through a network of 100 dealers and 1,000 retailers.