First phase of expansion completed
Sintex is globally recognised manufacturer of structured fabrics for high-end fashion shirting. The company’s fibre-to-fabric facility at Kalol is one of the largest weaving units in India.
Sintex was originally a pure-play textile company, among the first to produce polyester fabrics in India (1960s), the first to start making corduroy fabrics (1976) and the first to manufacture high end yarn dyed men’s shirting (1992). It now produces a variety of blended high end shirting brands (cotton linen, cotton-silk, cotton lycra and cotton linen-lycra). It enjoys a major share of the structured fabric market in India by addressing the growing needs of premium men’s shirt brands.
To strengthen its presence, Sintex is now busy setting up one of India’s largest compact yarn facilities with one million spindles, to be commissioned in a phased manner.
The business registered a topline of Rs. 1,514 crores in FY2016-17 against Rs. 990 crores the previous year, a growth of 53%, owing to the successful business strategies implemented by the team, which has increased product awareness and acceptability in India and across global markets.
In addition, the company has strengthened its business by adding capacities for bettering prospects. In addition, it has deepened its market penetration all over. These initiatives should facilitate sustaining the business momentum in the coming years.
BVM Overseas Ltd.
Sintex has had its strong presence in the compact yarn space both in India and abroad. Its wholly-owned subsidiary, BVM Overseas Ltd., having commenced trading in quality yarns for weaving and knitting in India and in global markets in 2015-16, has made considerable progress so far.
Going forward, as the company establishes a firm footing in the domestic and international markets, the management plans to expand its product basket range by including value-added items like fabrics and sheeting.
Some of its customers include globally recognized brands like Triber, Gap, DKNY, Ralph Lauren and Marks & Spencer (international) and Arrow, Zodiac, Van Huesen and Louis Phillipe (domestic).
The company offers fabrics with multiple surface finishes (peaching, razing, brushing, etc.). Almost 50% of the fabrics comprise designs prepared by the in-house team. There are 24 looms dedicated for product development. The textile innovation team develops more than 36,000 designs each year.
The company has also forged technical and market development alliances with various European design houses that keep them abreast of the customer aspirations and the emerging design trends globally.
Sintex enjoys the Oeko Tex standard 100 Certification (the ecological and environmental safety certification process for 100 different harmful substances) from Swiss Textile Testing Institute, Testex, Zurich.
During the year, the company took a few important initiatives to sustain business growth over the medium term. It adopted a state-of-art fully automatic printing technology from Zimmer of Austria, along with other ancillary equipment for introducing niche printed fabrics for high-end textile brands in India and across the globe. This investment increased the overall mill capacity by about one million meters per month.
Yarn – a new vertical
Sintex is setting up one of India’s largest compact yarn facilities. The unit will have cutting-edge technology sourced from global leaders in the textile machinery space. The cotton/yarn will not have human intervention until the packaging stage, and the plant’s ‘No-Touch’ operations hold the potential to revolutionise the Indian spinning sector, going forward.
The company also plans to provide its customers 100% contamination-free cotton yarn (premium), positioning it as one of the preferred suppliers of quality-respecting global brands. It has de-risked its business by prudently balancing its marketing exposure in different geographies. While 35% of the produce will be marketed domestically, the company plans to market the remaining output to leading global textile players.
Sintex commenced operations of Phase I comprising 3.06 lach spindles spinning superior quality compact yarn for weaving and knitting operations during 2016-17. The unit is currently operating at 98% capacity.