Rajasthan-based cotton yarn manufacturer Nitin Spinners has clocked in topline growth of 48 per cent with margins of around 19 to 20 per cent in Q1. Domestic business contributed around 35 per cent with the rest coming from exports.
Nitin has a combined installed capacity of 1,50,000 spindles and 3,000 rotors manufacturing 40,000 tons of yarns and threads per annum. The company has carved a niche for itself in the textile map of the country.
The fabric unit has also shown an upward growth trend since its inception. With a production capacity of 8,000 tons of fabric per annum, its top quality fabric is making its presence felt in the global textile industry. The company plans to add to its ring spinning and rotor spinning facilities. The new plant would come into operation in the second half of fiscal year ’16.
About Rs 300 crores will be spent on this project. It will be financed partly through term loans and partly through internal accruals. The expansion project is eligible for interest subsidy on term loan for capital expenditure under the Technology Upgradation Fund Scheme and the Rajasthan Investment Promotion Scheme.
www.nitinspinners.com/
