Lagnam Spintex, India’s biggest manufacturer of high-quality cotton yarns, is to invest Rs 218 crore in an expansion project that will add 41,472 spindles of 100 percent cotton compact yarn.
After installing the additional capacity in the next two fiscal years, beginning April 1, 2024, the business forecasts an additional topline growth of around Rs 300 crores per year.
After the proposed project is completed at the existing facility, the company’s production capacity will increase from 35 to 70 tonnes per day, the capex will almost double the company’s product capacity, and a new product called “COMPACT YARN” will be added, which is in high demand in both the domestic and international markets.
