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New Land Purchase»
The Company has purchased 17762 sq.mtr. of land in Banswara near to its existing unit BFL.  This land is proposed to be utilized for further expansions and additional utilities required for the existing production activities.


NSE LISTING»

National Stock Exchange of India Ltd. (NSE) has approved listing application of 12543861 equity shares of Rs. 10/- each of  the Company for listing on National Stock Exchange Limited. The NSE has admitted the shares for trading w.e.f. 11.04.2007.
 

Announcement »

Commencement of Thermal Power Plant

The company has, successful commence its 18 MW thermal-based power plant at Banswara. The power plant is set up for 100% captive power consumption.

The shift from furnace oil to thermal-based power plant is expected to cash in additional Rs. 20 crore on an annual basis. For the power plant, The plans to consume 100 % imported coal . This would help the company to cash in Rs.1.70 per unit from the existing state electricity board cost of Rs. 4.55 per unit.  Moreover, this will also avail a 10-year tax holiday for the company, apart from better quality and uninterrupted flow of power for captive consumption. Increased capacities along with the savings from the power plant will see the volumes grow with leveraged operating efficiencies for the company.”

Expansion Plan Status

The company’s on-going expansion plan of Rs 125 crore is progressing as per schedule.  Additional 11000 spindles became operational by August 2007. The revenue from these operations will be reflected in Q 3 FY08 onwards.

 

With the ongoing expansion plan, the income from operation from yarn is expected to be at Rs. 350 crore, fabric at Rs. 200 crore and of garments at Rs. 40 crore in FY08. Going forward, the revenue from fabric and garments is expected to improve substantially with the setting up of trousers unit of 2 lakh pieces and jackets unit of 30,000 pieces per month capacity in SEZ area at Surat from Dec 07. The contribution from fabric segment would go up due to specialty product like Poly Viscose Lycra Fabric, Poly Wool , Teflon coated  and  Linen Fabric etc. The company’s joint venture unit at Banswara is also operating at its optimum capacity.

The company is a preferred garment outsourcing partner for the major global retailers. Higher contributions from garments (particularly, career clothing for women’s & sports casual wear) and fabrics coupled with decline in power costs would enable the company to achieve significant improvement in net profit margins.

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