Nandan Exim expands shirting and denim capacities

Nandan Exim, a flagship company of Ahmedabad-based

Chiripal Group, has forayed into shirting production and proposes to expand its denim capacity to grab the opportunity of increasing demand in domestic and international markets. Announcing its third-quarter results, Chairman Vedprakash Chiripal said the company had increased its expansion project to Rs 814 crores, compared to Rs 261 crores announced earlier. The company has proposed an additional capacity of 42 million meter per annum for denim fabrics inclusive of installation of spinning of eight open end lines and 57,840 spindles and 336 looms. The company also proposes to diversify into the new era of shirting with a 15 million meter per annum shirting capacity.

The project is expected to be completed by January 2015. It will also generate direct employment for more than 750 people, Chiripal said. The company's third-quarter net profit jumped by 118 percent to Rs 7.12 crore from the Rs 3.27 crore for the corresponding period December 2011. Total turnover amounted to Rs 181.65 crores, compared with Rs 144.55 crores for the quarter ended December 2011, showing a rise of around 26 percent.