RSWM, part of the LNJ Bhilwara Group announced the sale of Mayur Suiting business to the Donear Group. The deal includes sale of Mayur Fabrics and PV Suiting business including its global distribution network.
The company is investing in an additional 30, 000 spindles for Melange yarn and in Denim by 15, 000 spindles, producing an additional 7 lac meters every month. The company will set up a modern 380 MT/month knits unit which should be operational in the 4th quarter if this year.
Mr. Riju Jhunjhunwala, Chairman and Managing Director, RSWM, said, “Over the last decade, LNJ Bhilwara Group forayed into a multitude of new avenues in technology, textiles, energy and much more. In an effort to build up the competence of each of our business units, we have decided to consolidate the entire yarn business to reinvigorate and strengthen the backbone of this group.”
RSWM is one of the largest textile manufacturing companies in India for high-quality and value- added yarns, PV and denim fabrics. The company is investing Rs. 304 crore comprising setting up of 19,488 spindles of combed spinning of cotton yarn, 8.4 million metres of denim capacity for sheet dyeing and finishing facility, 30,000 spindles of melange yarn and modernisation and balancing equipment across all locations.
The company is hopeful that this expansion will lead to significant growth in its turnover and profitability. RSWM currently has spinning capacity of 423, 824 spindles capable of producing 139, 500 TPA of yarn. In weaving, the company has 172 looms with a capacity of 275 lakh metres.
“We strategized to enhance the proportion of value-added products in our sales mix. While we made healthy progress in this regard in FY21, we committed important investments that will accelerate our journey towards this goal.” – Shared Mr. Riju Jhunjhunwala.
“These include augmenting our melange yarn capacity and increasing our denim yarn and fabric infrastructure. These investments should come on stream towards the close of FY22. We are readying for FY22 and will increase the capacity of melange yarn to enhance the proportion of revenue from value-added products. We are talking with leading apparel and home textile brands for securing their nomination. We are widening our melange range to include yarns suited for weaving application, hitherto used primarily by the knitting segment. We will add 7 lakh metres per month weaving line and augment spinning capacity by about 460 tonnes of yarn per month,” he added.