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India’s Nitin Spinners’ Q1 net sales rise

Nitin Spinners has reported net sales worth Rs 300.72 crores during the three month period ended June 30, 2018, as compared to Rs 287.43 crores during the three month period ended June 30, 2017. The company posted net profit of Rs 15.42 crores for the period ended June 30, 2018, as against Rs 12.72 crores for the period ended June 30, 2017.

Nitin Spinners manufactures pure cotton yarns and fabrics for both the national and international markets at Bhilwara in Rajasthan. With a capacity of 2,23,000 spindles and 3,000 rotors, it produces 50,000 tons of yarn and 9,000 tons of fabric a year. Nitin Spinners makes cotton yarn in single, multifold slub, compact, core spun and Elitwist yarns. The products are suitable for applications such as high value apparels and garments, undergarments, terry towels, denims, woven and medical fabrics, carpets, mattresses, stockings, furnishing fabrics and industrial fabrics.

The company uses Rieter compact spindles. Thanks to optimum raw material utilization, the quality of the yarn was improved and a high quality of compact yarn was achieved. In 2015-16, Nitin Spinners clocked a turnover of Rs 767 crores, out of which exports totaled Rs 531 crores.