Sangam India to invest Rs 137.2 cr for expansion of manufacturing facilityPV dyed yarn and seamless clothing producer Sangam India Ltd (SIL) on Thursday introduced a Rs 137.25-crore strategy for the growth of its manufacturing facility. This enlargement prepare, accepted by the board of directors, will witness infrastructure growth at SIL’s producing facility in Bhilwara, Rajasthan, the enterprise explained in a assertion.

The overall price tag of the expansion challenge is funded partly by phrase financial loans of Rs 102 crore and stability Rs 35.25 crore by inner accruals.

The shift is aimed at increasing the capacity of their cotton yarn business by 47 per cent and knitted fabric business by 28 for each cent.

The expansion is expected to boost the firm’s profits by 15 per cent from 2022-23.

The expansion programme will result in the set up of 32,832 spindles and 6 knitting equipment for the production of cotton yarn and knitted cloth.

Sangam India Handling Director S Modani reported, “Irrespective of the two unprecedented and difficult years of the pandemic, we are noticeably contented with our performance wherever our FY21 profits stood at Rs 1,353.55 crore. Going forward with the equipment, potential progress, we program to realize an improve of 15 for each cent in our in general business.”

Modani added that just after the organization has established foot in this phase of the infra enlargement, “we are aiming to strategically leverage the D2C (director) industry and the digitised textile room to additional elevate our attain and provide in India and abroad”.