Noida-based GHCL, one of the leading textiles and home furnishing companies, is expanding and will set up a textile mill in Tamil Nadu.
The company has plans to invest Rs. 150 to Rs. 200 crore in Tamil Nadu in FY22. It already has two textile mills in the state.
Leading English daily, The Hindu, has quoted R.S. Jalan, MD of the company that they have aggressive plans for expansion and a team is working on them.
It further added that the company will look at expanding capacities at its yarn production facilities near Madurai and Tiruchirapalli and also in solar power.
It is looking at putting up weaving infrastructure too.
Along with home textile products, the company also produces cotton and synthetic yarn.
As per the report, the textiles business had been doing well in the third and fourth quarters of this fiscal and was expected to continue the performance.
As per the website of the company, GHCL has achieved a CAGR of 14 per cent in the top line of its textile business for the last 8 years. It is also known for its sustainable products.