Sangam India targets Rs 4,000 crore revenue by FY25 after expansion in Rajasthan
The company operates seven production units in Bhilwara, equipped with over 2,36,000 spindles and 3,000 rotors.
Sangam India, a prominent producer of cotton, PV-dyed yarn, and ready-to-stitch fabric, has expressed its anticipation of reaching a revenue milestone of approximately Rs 4,000 crore by 2024-25. This optimistic outlook follows the expansion of capacities across its seven production units in Bhilwara, Rajasthan.
In the fiscal year 2022-23, the company achieved a revenue of Rs 2,730 crore. For the ongoing fiscal year, Sangam India is projecting a revenue of Rs 3,000 crore. S N Modani, Managing Director and CEO, Sangam India, conveyed this information during a conversation with PTI over the phone. He disclosed that the company aims to attain revenue of close to Rs 4,000 crore by 2024-25 due to the expansion of its production capacities in various product categories. Modani, however, added that the company’s profits for this fiscal year might be affected due to market pressures arising from global economic conditions.
Sangam India, which boasts a workforce of more than 1,200 employees, carries a long-term debt burden of Rs 600 crore. The company operates seven production units in Bhilwara, equipped with over 2,36,000 spindles and 3,000 rotors. Annually, it manufactures 35 million metres of PV fabric and 48 million metres of denim fabric.
Additionally, Sangam India has introduced a state-of-the-art seamless garment manufacturing plant featuring 52 knitting machines capable of producing 5.4 million items per year. Modani highlighted that the company is committed to consistently enhancing its manufacturing facilities to maintain high-quality standards. It is actively modernising its operations by incorporating auto-doffing ring frames in PV-dyed yarn production to conserve energy and reduce labour costs.
News source: PTI