Shri Lakshmi Cotsyn zooms on its capacity augmentation plan

10 Sep 2012

Shri Lakshmi Cotsyn is currently trading at Rs. 69.75, up by 5.20 points or 8.06% from its previous closing of Rs. 64.55 on the BSE.

The scrip opened at Rs. 65.10 and has touched a high and low of Rs. 69.90 and Rs. 64.60 respectively. So far 33144 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 156.50 on 01-Mar-2012 and a 52 week low of Rs. 58.10 on 08-Sep-2012.

Last one week high and low of the scrip stood at Rs. 84.00 and Rs. 58.10 respectively. The current market cap of the company is Rs. 195.31 crore.

The promoters holding in the company stood at 48.83% while Institutions and Non-Institutions held 12.99% and 38.18% respectively.

In a bid to augment capacity in various segments including terry towels, Noida-headquartered Shri Lakshmi Cotsyn is planning to invest Rs 1,300 crore by the end of next year. Out of total investment, the Textile major will invest Rs 700 crore in terry towel capacity expansion and rest would be for adding capacity of yarn spinning operations.

Post expansion, the terry towel capacity will be increased to 33,000 tonnes per annum (tpa) from 15,000 tpa at present.  On the expansion of capacity of yarn spinning, the company is planning to set up further 1.50 lakh spindles and 5,000 rotors to fulfill the total requirement. As of now, the company has spinning unit, which consists of 35,000 spindles and 5,000 rotors.

The existing yarn spinning capacity is catering only 35% of the company’s yarn requirement -- 45 tonnes per day out of total requirement of nearly 150 tonnes per day.  Shri Lakshmi Cotsyn manufactures various home furnishing products, including denim fabric, terry towels, bed linen, cotton fusible interlining and technical textile products.


 

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