Morarjee Textiles plans Rs 150 cr capex
\nEconomic Times, India<\/p>\n
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NEW DELHI: Ashok Piramal group company Morarjee Textiles is looking at expanding aggressively through brownfield as well as greenfield route. The company is also looking at buying brands. It plans to invest at least Rs 150 crore in the next three years in the garment business, which will see three manufacturing facilities come onstream.\u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cWe want to double our garment business every year for the next three years,\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d says Morarjee Textiles executive vice-chairman Harsh Piramal.<\/p>\n
The Rs 270-crore Morarjee Textile, which supplies fabrics and garments to several marquee brands such as Levi\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s, Esprit, Woolworth, Polo Ralph Lauren and Marks & Spencer, entered garment business three years ago by establishing its subsidiary Integra Apparels & Textile.<\/p>\n
The company has three garment units located in Bangalore with an annual capacity of 2 million pieces. It wants to raise this to 17 million pieces in three years. A new unit adjacent to the existing facility would go onstream in the next few months.<\/p>\n
The company is setting up a greenfield capacity at Tumkur in Karnataka, which will start production in a year\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s time. This will come at a cost of Rs 50-60 crore and would churn out 6 million pieces.<\/p>\n
Integra Apparel will set up another unit of similar capacity in one of the southern states. \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cWe will choose the location depending on the availability of land. The unit should be ready in a year-and-a-half,\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d says Mr Piramal.<\/p>\n
The company is also contemplating setting up a high-end integrated knit units. \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cWe are also looking at acquisition in fabric, garment and brand space. The acquisition could be anywhere between Rs 10-50 crore,\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d says Mr Piramal.<\/p>\n
Morarjee Textile plans to take its recently-acquired Italian brand Men\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s Club to other parts of Europe and Japan. The company intends to bring the brand to India in six months. The brand would be made available through Pyramid stores, the Piramal group\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s retail venture.<\/p>\n
Men\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s and women\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s tops today comprise Integra\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s product portfolio. But the company would soon add trousers to it. In its bid to become more efficient, Morarjee Textile has hired a \u00c3\u00a2\u00e2\u201a\u00ac\u00cb\u0153time and motion\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2 consultant, who is helping workers cut the inefficient steps in production.<\/p>\n
\u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cThe training began two months ago and the effect can already be seen. We will attain 10-15% efficiency in 4-6 month, by when all our 3,000 workers would have been trained,\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d says Mr Piramal. <\/p>\n","protected":false},"excerpt":{"rendered":"
Morarjee Textiles plans Rs 150 cr capex Economic Times, India NEW DELHI: Ashok Piramal group company Morarjee Textiles is looking at expanding aggressively through brownfield as well as greenfield route. The company is also looking at buying brands. It plans to invest at least Rs 150 crore in the next three years in the garment […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\n