India based denim manufacturer Nandan Denim is known for its shirt fabrics, khaki garments and accessories application. The Ahmedabad based company exports its fabric to around 30 countries all over the world and is also a part of the Chiripal Group.
In a PTI report, Nandan Denim has announced that, it expects its production to increase up to 110 million metres per annum by the next quarter. At present its production capacity is around 71 millions per annum.
“We are expanding our capacity further to reach 110 million metres by Q1 of FY17 to become the country’s largest denim producer,” President, Nandam Denim Govind Sharda was quoted by PTI as saying.
To the above quote, Sharda added “Out of total capital outlay of Rs 612 crore for expansion, we have already spent Rs 400 crore and remaining Rs 212 will be spent in next 4-5 months.”
This expansion venture was funded through a debt of Rs 430 crore and internal accruals of Rs 180 crore. Apart from manufacturing denim, the company has also began its expansion in spinning and shirting segments. Its capacity has increased from 54 tonnes per day to 124 TPD and yarn dyeing shirting capacity to 10 million metres.