Sumeet Industries Ltd. has successfully commissioned its 3,500 TPA carpet yarn manufacturing plant. This is a value-added product ensuring an additional revenue of Rs. 75 crores. The company will export 90 per cent of the carpet yarns production to overseas buyers and also add a substantial amount of profit in its total earnings. It is now in the process of exploring and adding some more value-added yarn categories in its product basket.
Sumeet Industries is an emerging integrated producer of pet chips, superior quality POY and FDY yarns, texturised yarns and multifilament polypropylene yarns. In the field for 24 years with a consistent track record of profitability and growth, the company has in the last five years successfully completed the Rs. 400-crore backward integration-cum-expansion project for polyester chips and varied categories of polyester yarns.
Sumeet registered a consolidated net profit of Rs. 21.65 crores with a turnover of Rs. 1,165.33 crores for the year ended March 31, 2015. It earned a net profit of Rs. 21.65 crores, a growth of 12.5 per cent over the previous year.