Sangam (India) Ltd., a leading integrated textile conglomerate, has announced that it has bagged new export orders amounting Rs. 35 crores for polyester-viscose fabrics and denim. These new orders are from Egypt, Saudi Arabia, Latin American and Afghanistan and are to be executed in the next four months. Contribution of exports in the denim business has grown from mere five per cent to 30 per cent in the last 18 months.
Commenting on the development, Mr. R.P. Soni, Chairman, Sangam (India), said: “We have received an encouraging response to our denim and seamless products in the international market. What excites us is that this response is despite tough competition from other leading international players, as could offer better value proposition. We are hopeful of a much higher revenue contribution and better operating margin from exports going forward.”
As on date, Sangam’s pending order book position stands at Rs. 238.22 crores, of which Rs. 125.60 crores pertain to exports. The company is targeting export revenue of Rs. 450 crores in the current financial year.
Started in 1984, the Sangam Group is promoted by first-generation entrepreneurs R P Soni and S N Modani, Sangam (India) is a leading business conglomerate known for its strong business values and principles. The group has an extensive domestic presence and also has been exporting to more than 50 countries for over 15 years and enjoys a 3 Star Trading House Status.
Sangam (India) is one of the largest manufacturers of polyester dyed yarn in the country. At present, it has 211,296 spindles of PV dyed yarn and cotton yarn installed in Bhilwara and 437 weaving machines and a 32 million meters of denim fabric capacity.
Sangam (India) has recently ventured into production of seamless garment under the brand name of C9 by installing 36 specialized knitting machines. Sangam Lifestyle Ventures Ltd., a 100 per cent subsidiary of Sangam (India), will focus on developing new exclusive chain of stores under the C9 brand name.