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02 February 2022, Mumbai:
Sangam India plans to increase its cotton production capacity by 10,500 mtpa to 33,500 mtpa. As per a Textile Value Chain report, the company reported 483 per cent growth in profit after tax in Q3 FY22 to Rs 44 crore as against Rs 7 crore reported during the previous corresponding quarter.
The company’s revenue for the quarter ending December 2021 grew 47 per cent Y-o-Y to Rs 646 crore against Rs 438 crore for the quarter ending December 2020.
Sales grew by 114 per cent Y-o-Y to Rs 607 crore, for the nine-month period ending December 2021.
Sangam India’s EBITDA grew 79 per cent Y-o-Y to Rs 80 crore for the Q3 FY’22.
The company has approved a brownfield expansion plan in the cotton yarn segment worth Rs 137.25 crore in the previous quarters.
Incepted in1984, Sangam India has over 10,000 employees. The group has more than 200,000 spindles and 3000 rotors for producing PV dyed yarn, cotton and OE yarn with an enviable reputation for quality, which is underlined by its ISO 9001:2008 certification.
It is the largest producer of PV dyed yarn in Asia at single location It is also a forerunner in manufacturing ready to stitch fabric with the annual capacity to produce 30 million meters of fabric and 40 million meters of denim.
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