Nitin Spinners plans to invest Rs 955 crore to expand its capacity. As per a Textile Magazine report, the capacity expansion will be funded by Rs 300 crore of internal accruals and Rs 655 crore of debt
Nitin Spinners is India’s leading manufacturer of cotton yarn and blended yarn with knitted and woven finished fabric. The company’s leadership in cotton and blended yarn along with fabric manufacturing is driven by delivering international quality standard products with continuous investment in latest technologies. Elaborating, Managing Director Dinesh Nolkha says, “the company has achieved the highest ever revenue of Rs 2,692 crore, growth of 66 per cent over the previous year along with highest-ever profitability. It has doubled exports during the current year as compared to the previous year.”
At present, Nitin Spinners operates at nearly optimum capacity and strategically enhancing capacity in all these segments, including spinning, knitting and woven fabric to meet the increasing market demand. The company is also increasing our blended yarn production capacity substantially and investing Rs 955 crore for capacity expansion, which will be funded by Rs 300 crore of internal accruals and Rs 655 crore of debt. It aims to capture the benefit of growing market opportunity in international as well as domestic sectors and strengthen the company’s position by widening our product portfolio as well
