Indo Count has announced revenue for the first nine months of FY17 at Rs. 1571.86 crores, an increase of 2.4 per cent compared to the same period in 2016.
Commenting on the results, Mr. Anil Kumar Jain, Executive Chairman, Indo Count Industries Ltd., said: “Against the backdrop of challenging market environment, our business continues to track ahead satisfactorily on back of dynamic response to market trends, enduring customer relationships, ‘our customer first approach’ and strong product portfolio. The operational performance in conjunction with steady cash accruals has been indicative of our company’s inherent strength.”
He added: “As we enter our next phase of growth, we see several untapped opportunities a long with better acceptability in the three new segments of Fashion, Utility and Institutional bedding across a widening footprint. We are enthused at the positive response to our recently launched brands. The augmentation of capacity will further enhance our position in the market. Our company remains committed towards profitable and equitable growth. We are confident that our focus on innovation, customer centricity and prudent business practices will lay the foundation for growth in the years to come.”
In phase I the company invested Rs. 175 crores on capacity expansion from 68mn meters to 90mn meters at its Kagal plant. In phase II the company has planned capex of Rs. 300 crores which is currently under progress.