Sangam India announced Rs 137.25 crore plan for expansion of its manufacturing facility.
This expansion plan, approved by the Board of Directors, will witness infrastructure development at SIL's manufacturing facility in Bhilwara, Rajasthan.
The total cost of the expansion project will be funded partly by term loans of Rs 102 crore and balance Rs 35.25 crore by internal accruals.
The move is aimed at increasing the capacity of their cotton yarn business by 47 percent and knitted fabric business by 28 percent. The expansion is expected to increase the company's revenue by 15 percent from 2022-23.
The expansion programme will result in the installation of 32,832 spindles and six knitting machines for manufacturing of cotton yarn and knitted fabric.
After the company has set foot in this phase of the infra expansion, it is aiming to strategically leverage the D2C (director) market and the digitised textile space to further elevate its reach and supply in India and overseas.