New plant installation progressing as scheduled
Nitin Spinners has emerged as a leading manufacturer of 100% cotton yarn and knitted fabrics in India with over 25 years of experience. The company has capitalized on the growing opportunities, strengthening its market presence in over 50 countries across the globe.
The company has undertaken to install an integrated textile unit at Bhanwaria Kalan, tehsil Begun of Chittorgarh district of Rajasthan at an estimated project cost of Rs. 675 crores. It is progressing as per schedule. With major expansion initiatives in line, Nitin Spinners posted a revenue growth of 8.5% from Rs. 1,145.25 crores to Rs. 1,242.51 crores in FY 2018-19.
One of the leading players in the textile industry, Nitin Spinners commenced its operations as a commodity yarn player and has now expanded its operations to value-added yarns. The company manufactures a range of yarns, including open-end yarns, multi-fold open end yarns, ring spun combed yarns, multi-fold ring spun yarns, compact yarns, fancy slub yarns, core spun yarns, S and Z twist yarns, dyeable cheese cones and organic cotton yarns and blends. Its product range in knitted fabrics include single jersey, pique structures, inter-lock structures, rib structures and three thread fleece.
The company products are applicable for producing apparel and garments, under garments, terry towels, woven fabrics, home furnishings, carpets, denim, industrial textiles and medical textiles, among others. Further, looking forward to a promising growth in the apparel sector, the company has forayed into the finished fabrics segment, thus being equipped to cater to all fabric demand of apparel manufacturers.
In the expansion project it is turning out value-added products by entering the finished fabric segment to supply quality fabrics to renowned apparel manufacturers. In the yarn segment, it is expanding its product range by introducing ring spun carded yarns and PC blended yarns.
Technological capabilities
Emerging technologies across industries are playing a critical role in remaining relevant to business sustainability. As a result, Nitin Spinners continued to invest in the best technologies to drive operational excellence. The company has always deployed the latest machines across its manufacturing operations that are automated to reduce the use of unskilled manpower, improve the quality of products and optimise power consumption.
Mr. R.L. Nolkha, Chairman, said: “Through our diversified range of products, we have not only expanded our footprint in India but also strengthened our presence in international boundaries. With our global customer base, we have deepened our regional focus and gained insights into how we can best meet our consumer needs across the geographies where we operate. Keeping innovation at the forefront, we strategized the areas that needed our focus. Once we knew where our priorities must lie, we made requisite investments in capacities, got the ball rolling on our various expansion initiatives and thereby we paved the way for our growth”.
Road ahead
Mr. Nolkha added: “Going forward, we have a number of initiatives underway that would help us expand our market share around the world while driving profitable growth for our shareholders. We expect our ongoing expansion project to be completed by this fiscal. Before entering the next phase of expansion, we plan to work on fully utilizing our added capacities of yarn and knitted fabrics. We also expect to achieve a revenue level of over Rs. 2,000 crores by FY 2020-21”.