Ahmedabad based Nandan Exim (Chiripal Group), is looking at expanding to cater to the increasing denim demand in domestic and international markets. According to Vedprakash Chiripal, Chairman of the company, an additional capacity of 42 million metre per annum for denim fabrics inclusive of installation of spinning of eight open end lines and 57,840 spindles and 336 looms. The company also intends to diversify into shirting fabric production with a 15 million metre per annum capacity. The project is expected to be completed by January 2015.
The company’s third-quarter net profit jumped by 118 per cent to Rs. 7.12 crore from the Rs. 3.27 crores for the corresponding period December 2011. Total turnover amounted to Rs. 181.65 crores, compared with Rs. 144.55 crores for the quarter ended December 2011, showing a rise of around 26 per cent.
