Sangam (India), one of the largest polyester-viscose dyed yarn manufacturer in India, today announced that company plans to double its denim production from 8.00 million metrics tonnes to 16 million metric tonnes by setting up additional line.
As part of its strategy, Sangam (India) plans manufacture various value-added denim products. The Rs 35-crore expansion plan will be financed through internal accruals. In FY09, the company had completed its Rs 650 crore major expansion plan by adding 1.29 lakh spindles, 130 weaving machines, setting up of 21MW power plant and modernising of process house.
Commenting on company’s financial performance, Mr R P Soni, Chairman, said “Expansion into value-added denim products will increase our presence all major segments in the industry and emerge as one shop producers for both domestic and international markets.
Meanwhile, the company has also witnessed a significant improvement in it’s order-book position. As on March 31, 2010, company’s order book position stood at Rs 170 crore, including export order of Rs 60 crore.
About Sangam India Limited
(Reuters Code: SANG.BO; BLOOMBERG: SNGM@IN; BSE Scrip Code: 514234)
Promoted by first-generation entrepreneurs R P Soni and S N Modani, Sangam (India) is one of the largest manufacturer of polyester dyed yarn in the country. At present, Sangam India has 83,232 spindles of polyester-viscose dyed yarn and 31,200 spindles for cotton yarn installed in Bhilwara along with 237 weaving machines and a 21 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, Reid & Taylor, Siyaram and Grasim. Its fabric is marketed through a network of 100 dealers and 1000 retailers.
