The cost of the plant will be around Rs 350-400 crore, of which 70 percent will be funded through debt.
In an interview with CNBC-TV18, Dinesh Oswal, Managing Director of Nahar Spinning Mills said that low demand and high raw material cost will keep margins under pressure in the next quarter.
Textile player, Nahar Spinning expects to see a cash profit in Q4 as opposed to losses due to rupee depreciation.
In an interview with CNBC-TV18’s Reema Tendulkar and Ekta Batra, Dinesh Oswal, MD of Nahar Spinning spoke about the recent happenings in the company and the future ahead.