Amartex Ind plans a major push in north

Panchkula-based textile manufacturer Amartex Industries Ltd is undertaking expansion with a capital outlay of Rs 180 crore.

The company has plans to double its garment manufacturing capacity at its current facility. Also, it has plans to establish a retail chain consisting of 151 outlets. It has 65 outlets now.

Speaking to Business Standard, the managing director of the company, Arun Grover, said: "We have earmarked Rs 180 crore for expanding the production capacity of the existing facilities located in Ludhiana and Dharuhera. At present, we have the capacity to manufacture 100,000 garments a month. We have plans to increase the production capacity of the garment-processing facility located in Dharuhera."

The capital earmarked for the expansion will be financed through the proposed IPO, to be launched very shortly, and internal accruals.

Grover said: "Besides expanding the production capacity, we have plans to establish a retail chain consisting of 151 outlets and establish the chain's hold in North and West India."

The company has added another store at Mani-Majra on Saturday, the second in Chandigarh.

The firm has its design studio and R&D and other facilities, which cater for varying needs of consumers, including schools uniform.

"Our aim is to provide garments, FMCG products and agro goods at lowest possible prices through our outlets. Smart cards are also being issued to the dedicated customers. A bank ATM is also in the pipeline."

The company has also plans to set up an agro-processing project at Lalru in Punjab.

Grover said the projected turnover of the company in the financial year was Rs 250 crore, against Rs 176 crore achieved by it in 2006-07.