Sangam India, a prominent manufacturer of cotton, PV-dyed yarn, and ready-to-stitch fabric, has revealed ambitions to reach a revenue mark of approximately Rs. 4000 crore by the fiscal year 2024-25. This optimistic outlook follows an extensive capacity expansion across its seven production facilities in Bhilwara, Rajasthan. Despite holding a long-term debt of Rs.600 crore, Sangam India, employing a workforce of over 1,200, is strategically positioned for this envisioned growth.
CEO S.N Modani disclosed in an interview that they achieved a revenue of Rs. 2730 crore in the fiscal year 2022-23, and they are poised to exceed Rs. 3000 crore in the current financial year. He elaborated on a planned capital expenditure of Rs. 900 crore dedicated to expanding the production capacities for cotton, denim, and synthetic weaving. Furthermore, a significant allocation of Rs. 300 crore is designated for the expansion of production units by December 2023, consolidating the company’s position in the industry.
In a bid to enhance efficiency and output, Sangam India has unveiled a modern seamless garment manufacturing plant housing 52 knitting machines, with a remarkable potential of creating 5.4 million items annually. Their daily fabric production stands at 0.6 million meters, contributing to an impressive yearly output of 45 million meters of denim, 95,000 tonnes of synthetic materials, and 12,000 tonnes of cotton yarn. Notably, they have upgraded their manufacturing infrastructure, integrating auto-doffing ring frames in PV-dyed yarn, optimizing energy consumption and labour costs.
Despite a recent 20 per cent dip in exports and challenging market conditions, CEO Modani remains optimistic about an upswing in exports from October onwards. The company’s global outreach encompasses 30 per cent of their products exported to 58 countries, while the remaining 70 per cent caters to the thriving domestic market. The company’s expansion endeavours are strategically aligned to fortify their presence in existing markets, both within India and internationally.
