We have decided to expand our fabrics and garments manufacturing capacity. For this, we plan to spend Rs160 crore this fiscal,” Siyaram's vice-chairman and managing director Ramesh Poddar told PTI
Mumbai: Siyaram’s, a leading producer of blended fabrics, plans to invest Rs160 crore in FY12-13 to enhance its fabrics and garments manufacturing capacity, reports PTI.
“The demand for branded products is always growing. To meet this demand, we have decided to expand our fabrics and garments manufacturing capacity. For this, we plan to spend Rs160 crore this fiscal,” Siyaram's vice-chairman and managing director Ramesh Poddar told PTI.
The city-based company plans to increase the fabrics capacity by about 10 lakh metres a month. “The expansion work will start by August-September,” he said, adding, “it will be funded through internal accruals and loans.”
Siyaram’s, which enjoys a market share of 20% in the Rs6,000-crore organised market, currently manufactures 550 lakh metres of fabric every year and will increase the capacity by 125 lakh metres, he said.
It also makes 2.5 lakh pieces of garments every month and plans to increase this to 3.2 lakh pieces, he added.
The firm operates four plants at Tarapur near Mumbai for weaving and yarn dyeing, two at Daman for garments and one at Silvasa for weaving.
The company, that owns brands like J Hampstead, Oxemberg, Siyaram MSD, plans to open 40 stores during the fiscal, mostly through the franchise route.
“We have 100 exclusive shops and we will add another 30-40 stores. Since it will be mostly through franchise, we will not have to invest much. Our share may be somewhere around Rs3 crore,” Mr Poddar said.
The BSE-listed company is expecting a growth of at least 15% in net sales during the fiscal. “Last year we clocked a net turnover of Rs900 crore and expect to touch around Rs1,100 crore this fiscal. Gross sale should be 15% more than the net sales,” he said.
He said the revenue contribution from garments will be close to Rs200 crore. Siyaram's also expects its exports, which is primarily in West Asia, to increase to Rs75 crore this year from Rs50 crore.
At 11:17 am Siyaram’s shares were trading at Rs260 per share, up 2.30%, on the Bombay Stock Exchange, while the benchmark Sensex was marginally higher at 17,340.
“We have 330 people working in Bangalore and we are in the process of hiring more,” Tata Elxsi head, marketing & sales, Asia, Kunaal Saigal told PTI
Mumbai: Tata Elxsi, a technology design company and part of the Tata Group, is in the process of expanding head count at its visual computing lab in Bangalore backed by a strong order book, reports PTI quoting a senior company executive.
“We have 330 people working in Bangalore and we are in the process of hiring more,” Tata Elxsi head, marketing & sales, Asia, Kunaal Saigal told PTI.
The company provides engineering software and design services. It has four labs—at Andheri and Bandra in Mumbai, as well as Bangalore and Santa Monica in Los Angeles—which develop visual effects, 3D stereoscopy and animation for TV commercials, TV serials, movies, custom-made content and computer games.
“Yash Raj Films (YRF) is our key client. We recently bagged a deal to do visual effects for its forthcoming movie called “Ek Tha Tiger”. We will also do visual animation for “Roadside Romeo”, a YRF-Walt Disney co-production, as well as UTV’s “Arjun, The Warrior Prince”. “Dhoom 3” and “Bhag Milkha Bhag” are the other movie projects we will be doing,” he said.
He declined to disclose the value of these deals, or the respective contributions to the company's revenues from its divisions like embedded product design, industrial design, as well as systems integration, besides visual computing labs.
The company has also become a preferred partner of Microsoft’s computer games.
“We are a preferred partner for Microsoft’s Connect gaming platform. We have already worked on games like “Disneyland Adventure” as well as “Rush”, which we delivered recently,” Mr Saigal said.
At 11:15 a.m. Tata Elxsi shares were trading at Rs206.05 per share, up 1%, on the Bombay Stock Exchange, while the benchmark Sensex was marginally higher at 17,338.
Rising costs and stifling policies… remember the second half of the 1990s?