In these tough times, there can’t be more good news than this for the Indian apparel industry!
The Coimbatore-based well known vertical integrated textile company KPR Mills is going for massive expansion.
The company, producing a variety of apparels for prestigious global buyers, has plans to invest Rs. 250 crore with the main thrust on apparel segment.
This upcoming facility will be near Coimbatore, near the existing units so that it can add value to the integrated processes of the company.
Along with the order enquiries from its existing buyer base, the organisation is also getting good response from new markets.
The company has plans to initiate a new clothing factory which is expected to manufacture around 3.5 million garments per month. It is important to mention here that in the overall turnover of the company, apparel contributes around 42 per cent, equal to yarn and fabric.
Meanwhile, it has also announced the Q2 results of the current fiscal year. The consolidated revenue in this quarter came in at Rs. 941.92 crore, registering a 16.6 per cent YoY increase and 74.2 per cent QoQ increase.
The profit after tax for the same period was Rs. 112.54 crore, registering a 3.1 per cent YoY increase and 86.6 per cent QoQ increase.
Apart from export market, the company is also increasing its footprint in domestic market with its organic garment brand FASO for innerwear and athleisurewear.
