For the quarter ended December 31, 2016, Nitin Spinners’s turnover went up 30.34 per cent compared to the corresponding quarter of the previous year. The turnover for the nine months ended December 31, 2016, has increased by 12.43 per cent compared to the corresponding period in the previous 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.
Nitin Spinners manufactures pure cotton yarns and fabrics for both the national and international markets at Bhilwara in Rajasthan. With a capacity of 223,000 spindles and 3,000 rotors, it produces 50,000 tons of yarn and 9,000 tons of fabric a year.
During 2015-16, Nitin clocked a turnover of Rs 767 crores, out of which exports totaled Rs 531 crores. Operating profit before interest, depreciation and tax was Rs 137.76 crores and PAT was Rs 44.16 crores. 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.