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Filatex profits grows at 84 per cent

India’s leading polyester yarn player Filatex’s profits have been growing at a CAGR of 84 per cent in the last three years. The company has been expanding capacity. Current ebidta margins stand at nine per cent and expecting to grow at 12 per cent after the commissioning of new power plant at Dahej. This will increase profitability. Currently exports contribute to 20 per cent of the company’s overall revenues. Filatex currently exports to 40 countries and is experiencing a good demand from countries like Brazil, Bangladesh and Egypt.

Filatex is a pioneer manufacturer of monofilament yarns for zippers, toothbrush bristles, velcro, magic fasteners and forming fabrics in India. FIL manufactures specialty polyester filament yarns, which have a high value addition as compared to normal denier synthetic yarns. One of the specialty yarns which Filatex manufactures is micro denier polyester filament yarn.

Polyester is considered the fiber of the future. Demand for polyester is increasing as demand for athlesiure, sports and yoga wear is increasing across the world. The fiber is used in apparels, women’s wear and under garments, home textiles and furnishings and sportswear. Currently China supplies 75 per cent of the world’s polyester yarn production. India caters to ten per cent of the world’s demand.