The Nahar Group of Companies, also known as the OWM Group, which emanated in 1949 as a small woollen worsted spinner and hosiery manufacturer, has now grown itself into a leading textile giant of northern India manufacturing woollen products, cotton and blended knitted hosiery, all types of yarns and woven fabrics.
The company’s expansion and modernisation drive of 60,000 spindles, of which 52,848 spindles have already been installed, will be complete by the end of 2014. On completion of the proposed expansion, the company’s spindlage capacity will stand increased to nearly five lakh spindles and 1,080 rotors. Its yarn segment performed exceedingly well during the year under review. The recovery in the US, European Union and Asian economies, coupled with higher export realization, enabled the segment to achieve net revenue of Rs. 1,927.12 crores, showing an increase of 12.63 per cent over the previous year.
The group’s garment segment achieved net revenue of Rs. 272.95 crores, showing a growth of 11.26 per cent over 2012-13. It also improved its financial performance significantly and earned profit before interest and tax of Rs. 43.20 crores, representing an impressive increase of 74.64 per cent over the previous year.
From the above, it is apparent that the company’s overall performance has been excellent on all parameters during the year ended March 31, 2014. The company earned net revenue of Rs. 2204.19 crores, achieving a growth of 12.39 per cent over the previous year. Its exports increased by 9.87 per cent amounting to Rs. 1,427.99 crores.
R&D Division
Nahar Spinning Mills is equipped with the innovative state-of-the-art tester (UT-JET) and yarn regular tester (UT-5) machines supplied by Uster. The company has installed contamination clearing machines in unit-2. The R&D efforts in the company are focused not only on productivity and quality improvement with waste reduction but also in developing value-added yarns and blends in different shades for domestic and international markets. The company has the latest on-line and off-line testing and monitoring equipments from world renowned manufacturers to maintain the product consistency of raw materials and finished products.
To expand its export business in the Gulf countries, the company has also established its wholly-owned subsidiary, Nahar Spinning Mill (FZE), in the Sharjah Airport Free Zone in the UAE.
