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The Textile Magazine
MAY 2012
Siyaram’s to invest Rs. 160 crores
for capacity expansion
corporate news
Demand for branded products is
always growing. To meet this de-
mand, Siyaram’s has decided to ex-
pand its fabrics and garments manu-
facturing capacity at an outlay of Rs.
160 crores this fiscal.
The Siyaram’s Vice-Chairman
and Managing Director, Mr. Ramesh
Poddar, told PTI that his company
plans to increase the fabrics capac-
ity by about 10 lakh metres a month.
“The expansion work which will
start by August-September will be
funded through internal accruals and
loans.”
Siyaram’s, which enjoys a mar-
ket share of 20 per cent in the Rs.
6,000-crore organised market, cur-
rently manufactures 550 lakh metres
of fabric every year and will increase
the capacity by 125 lakh metres. It
also makes 2.5 lakh pieces of gar-
ments every month and plans to in-
crease it to 3.2 lakh pieces, he added.
The company operates four plants
at Tarapur near Mumbai for weav-
ing and yarn dyeing, two at Daman
for garments and one at Silvassa
for weaving. Owning brands like J
Hampstead, Oxemberg and Siyaram
MSD, it plans to open 40 stores dur-
ing the current fiscal, mostly through
the franchise route.
Mr. Poddar said the revenue con-
tribution from garments will be
close to Rs. 200 crores. Exports,
primarily to West Asia, are expected
to increase to Rs. 75 crores this year
from Rs. 50 crores.
w
“We have 100 exclusive shops and
we will add another 30-40 stores.
Since it will be mostly through
franchise, we will not have to
invest much. Our share may be
somewhere around Rs. 3 crores.
Last year we clocked a net turnover
of Rs. 900 crores and expect this
to touch around Rs. 1,100 crores
this fiscal. Gross sales should be
15% more than net sales.”
– Mr. Poddar
Mr. Ramesh Poddar, Vice-Chairman and Managing Director, Siyaram