Winsome Textiles Industries Limited, one of the leading textile manufacturers in north India, has earmarked Rs 176 crore for setting up a state-of-the-art spinning unit with a capacity of 41,000 spindles at Kaundi village in Baddi of Himachal Pradesh. The funding, according to company sources, has been mobilised in the debt equity ratio of 3:1.
The company is putting up a state-of-the-art spinning unit at this new location which is about 8 km away from its existing spinning unit in Baddi. It has also planned expansion of its existing yarn dyeing facility and a new yarn dyed circular knitted fabric unit at an additional investment of Rs 45 crores, according to Ashish Bagrodia, managing director of Winsome Textiles Industries Limited.
The company has finalised machines from leading textile machinery manufacturers from Switzerland, Germany, Italy and India. This new foray into the fabric business is vertical integration for the company which will lead to better economies and the proximity of the two units will make management and logistics much easier. The expansions will provide employment opportunities to around 300 people in Himachal Pradesh, he added.
The new unit is expected to commence production by March 2013. Currently the company is producing about 20 tonnes per day of specialised melange yarns (a specialised yarn that gives faded effect to the fabric) and after this new expansions the melange yarn capacities with increase to 32 tonnes per day making it the largest melange yarn manufacturer in India. Also the yarn dyeing capacities will increase to 26 tonnes per day. The company is already among the leaders in the melange and dyed yarn business in India.
This investment would consolidate its position in export and domestic market. “We envisage to utilise half of the capacities for domestic territories and rest half for the export destinations.” The company manufactures only value-added yarn, so it was not much effected by the slowdown in the international market.
He told that the company may clock in a turnover of Rs 320 cr in 2011-12 of which the exports contributed about Rs 150 cr. With the commissioning of new plant at Baddi in 2013-14, the gross annual turnover may touch Rs 570 cr as the new the new unit is projected to add an annual turnover of Rs 250 cr.