With starting of production in new capacities by the fourth quarter of FY17, he expects to a revenue growth in FY18, said Dinesh Nolkha, MD, Nitin Spinners.
Nitin Spinners' total debt stands at Rs 290 crore, of which it plans to pay back around Rs 50 crore, says its Managing Director Dinesh Nolkha.
For FY17, the company has plans to increase capacities which would come on stream by year-end,said Dinesh Nolkha, Managing Director, Nitin Spinners.
Speaking about the business outlook going forward Dinesh Nolkha, MD, Nitin Spinners, Bhilwara said revenue of Rs 200 crore was achievable for the next two-three quarters.
Speaking to CNBC-TV18 Dinesh Nolkha Managing Director of Nitin Spinners says the total revenue generated is from its cotton yarn and the knitted products 70 percent of which are exported. Seeing a value addition in domestic market the company is looking to increase its presence to 45 percent from the current 30 percent.
Nitin Spinners has declared its third quarter results. The company's Q3 standalone net sales were up at Rs 106 crore versus Rs 78 crore. Its EBIDTA margins was up at 21% versus 10.83%.