Nandan Exim is planning to enhance the production capacity by making capital investment of Rs 250 crore, which will be implemented within period of one year. Out of the total expansion of Rs 250 crore, the financial tie-up of Rs 175 crore has already been made and the balance will be completed by December 2012. Post expansion, the company’s capacity will reach to 100 million meter per annum from the existing 60 million meter per annum. Accordingly, turnover will cross to Rs 1,000 crore.
The company has taken step as the central government has extended Restructured - TUFF Scheme up to March 31, 2013, wherein Textile Industries are eligible for 5% Interest Subsidy and 10% Capital Subsidy on certain machineries. Apart from the above, the Gujarat Government has also come-out with the scheme to boost up the Textile Sector wherein 5% to 7% Interest Subsidy and VAT refund to the extent of investment in Plant & Machinery and Re 1 per unit Power subsidy.
The company has recorded revenues of Rs 573 crore and net profit after tax of Rs 19 crore for the financial year 2011-12. The company has also recorder first quarter revenue of Rs 175 crore and net profit after tax of Rs 6.55, showing growth of 25% in term of revenue and net profit after tax.