Formerly known as Bhilwara Synthetics, fabric manufacturer BSL plans to augment cotton spinning capacity at its Rajasthan facility with a capital expenditure of Rs 150 crore. The capital expenditure (Capex) will also help boost sales and profitability, says Nivedan Churiwal, Managing Director. The company also aims to generate revenues worth Rs 700 crore in the 2023-24 fiscal. It had posted over Rs 321-crore revenue from operations in 2020-21 fiscal.

BSL has signed an MoU with the Rajasthan government tor fiscal incentives, in the form of interest subsidies, adds Churiwal. The company has suiting, furnishings and yarn spinning verticals. Suiting contributes around 60 per cent of the annual revenue, while furnishing is the most profitable line of business, adds Churiwal. Exports account for around two-thirds of the turnover, and domestic sales contribute the rest. In the first quarter of last financial year, the company rationalized its costs by reducing manpower, adds Churiwal.