Vardhman Textiles invests in capex
Vardhman Textiles proposes to invest about Rs 1,400 crores in the next two years as capex, to be segregated equally between yarn and fabric. The investment would be strategically used to add approximately one lakh spindles. The company is also expanding its total fabric capacity from the current 140 million meters a year to 180 million meters.
Vardhman, which began operations in 1965, is engaged in the business of manufacturing yarn, fabric, acrylic fiber, garments, sewing threads and alloy steel. The group has over the years developed as a business conglomerate with a presence in India and in 75 countries across the globe. It is one of India’s largest textile manufacturers with a substantial market share.
Vardhman invested around Rs 300 crores in fiscal ’18 on modernization of its assets and enhancement of capacity. This is expected to widen the company product offerings in the yarn dyed segment and also help service its clients better. The company is a one-stop shop for all kinds of spun yarn offering a variety of contemporary blends and shades. Yarn constitutes the largest business at Vardhman. The company also manufactures organic cotton, melange, core spun yarns, ultra yarns, gassed mercerised, superfine yarns, slub and cellulose yarns and fancy yarns for hand knitting.