Orient Craft Ltd is looking forward to expansion and plans to spend Rs 125 crore to 175 crore over the next three years. Company's chairman and managing director Sudhir Dhingra said the sum will be invested towards capacity building and for attempting other auxiliary trades such as printing and retailing.
The company plans to fund the investments through internal accruals and debts. Also, it foresees higher interest from individual equity investors for the closely held company, said Mr Dhingra.
The company is based in Gurgaon and operates with 23 manufacturing facilities in Delhi, Gurgaon, Noida and Rajasthan. It holds capacity to churn out 1.5 lakh apparel pieces per day. More so, it has 51 clients from overseas.
During 2009-10, Orient recorded a turnover of Rs 936 crore which comprised of domestic turnover of Rs 36 crore whereas the overseas sales turnover came to Rs 900 crore.
Post completion of its expansion plans, the company is positive on striking a turnover of Rs 1,400 crore by 2012. This anticipated figure is a total of the exports turnover of Rs 1,200 crore and domestic turnover of Rs 225 crore.
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