KPR Mill Plans To Expand Garment Facility
KPR Mill Plans To Expand Garment Facility
K.P.R. Mill, one of the largest vertically integrated textile player, has announced that it is planning to add another 10 million garment capacity leading to a total garment capacity of 115 million. The company has undertaken this brownfield expansion to cater to the rising demand of its garments. The company is continuously increasing its focus on the garments business. Recently, it has also started commercial production of garments in Ethiopia. The company is the largest knitted garment manufacturer and exports to Europe, Australia and the US. Looking at the recently concluded quarter Q3FY19, the company has posted growth in revenue and net profit of 8.3 per cent and 18.3 per cent, respectively on YoY basis.
On 9MFY19 basis, the Garment Production increased by 15.84 per cent YoY to 68.66 Million Garments as against 59.27 Million Garments. The company’s product revenue mix stood at Yarn & Fabric (49 per cent), Garments (37 per cent), Sugar (8 per cent) and Others (6 per cent). On the geographical front, it derives 59 per cent revenue from the domestic market and remaining from exports.
Essel Propack Inaugurates Laminated Tubes Plant In Assam
The company inaugurated its greenfield facility in Assam. The plant commenced production of high-quality laminated plastic tubes used for packaging FMCG and pharma products. Essel Propack has planned a total investment of Rs 192 crore, of which Rs 82 crore is set aside for the first phase. This is the company's first unit in the Northeast. The plant will produce high-quality laminated tubes with a capacity of 275 million tubes annually. Post the completion of expansion, the plant capacity will be 750 million tubes. The company believes the plant will help serve customers based in Assam and other regions in the North-East India.
Essel Propack is a specialty packaging company. The company engages in the manufacture of laminated plastic tubes for the FMCG and Pharma sector. Essel has 20 facilities in 11 countries. The company's promoters led by Ashok Goel hold 57.04 per cent equity shares in Essel Propack Limited.
Auro Pharma Completes Apotex Acquisition In 5 Countries
Aurobindo Pharma, the Hyderabad-based pharmaceutical company, has completed the acquisition of Apotex’s commercial operations and certain supporting infrastructure in five European countries Poland, Czech Republic, the Netherlands, Spain and Belgium. The acquisition also includes the infrastructure, personnel products, certain trademarks, marketing authorizations and dossier license rights in these five countries.
The company has recently reported Q3FY19 numbers with rise in revenue by 21.5 per cent on YoY basis. Its EU formulation segment has posted 10.3 per cent YoY growth in terms of revenue.
Also, the company has launched seven products (including two injectables) during the quarter. Further, it filed 10 new abbreviated new drug applications (ANDAs) with the USFDA, including four for injectable products during Q3FY19.
Voltas To Set Up Rs 500 Crore Facility In Tirupati
Voltas Limited, the market leader in the room air-conditioning segment, plans to set up a new manufacturing facility in Tirupati with a total investment of Rs 500 crore.
This expansion is mainly for the purpose of manufacturing air conditioners and related cooling products with a total capacity of more than 1 million units to start with, informed the company. This manufacturing facility would help the company reduce transportation cost.
The company enjoyed around 25.6 per cent market share in the air cooling market as on Q2FY19. Its revenue mix as on Q2FY19 comprised ElectroMechanical Projects and Services (64 per cent), Unitary Cooling Products for Comfort and Commercial use (31 per cent) and Engineering Products and Services (5 per cent).
The total order book as of September 30, 2018, for the domestic project stood at close to Rs 2,848 crore and for the international operations was Rs 2,035 crore. During Q2FY19, the order intake for the domestic market stood at Rs 630 crore and international markets was Rs 450 crore.crore in the corresponding quarter last year, an increase of 37% yoy