India: Indo Count to invest heavily on capacity expansion; aims higher revenue
India: Indo Count to invest heavily on capacity expansion; aims higher revenue
textileexcellence
With the textile sector seeing a recovery due to stable raw material prices and growth in exports, companies such as Indo Count are looking at taking big leap forward. Indo Count, a cotton yarn spinner to bed linen and towel manufacturer with its production facilities in Maharashtra, a state in the western part India.
Indo Count’s revenue for 2013-14 stood at Rs 15,000 million, a rise of 23 per cent compared to 2012-13, while net profit was Rs 1103.9 million, up 274 per cent. In 2014-15, Indo Count hopes to increase its revenue to Rs 19,000 million (US$ 316.66 million) & net profit to Rs 1700 million (US$ 28.33 million). The company is planning expansion of its production capacity and aims to double it in the next few years. Currently, it’s weaving and processing capacity stands at 50 million meters; which will be increased to 68 million meters by Dec 2014. And become 112 million meters by 2016.
