Kolkata: Textile manufacturer BSL Ltd has recently launched its first Cotton Spinning Unit in Rajasthans Bhilwara at an investment of Rs 150 crore.
The new unit has a capacity of 30,000 spindles, enabling the production of 700 tonnes of cotton yarn per month.
This addition is expected to augment the companys revenue by Rs 250 crores in the forthcoming fiscal year, the company said in a statement.
Less than a year ago, the company decided to venture into manufacturing 100% cotton yarns and in record time it has set up a cotton yarn spinning facility.
The company will offer different counts ranging from 1/20, 1/30, 100% cotton yarn ranging from Combed yarn, Carded yarn, and Siro Spun yarn. These yarns will be offered for sale commercially, for both export domestic market.
The smart manufacturing facility will create employment for additional 200 people, the company said.
It is the exclusive supplier of furniture fabrics from South Asia for IKEA and their products are available in all 450 IKEA stores globally.
The company also has two suitings brands, BSL and Geoffrey Hammonds (GH), catering to the mass market and premium segment respectively.
BSL Ltd. has expanded its product range and offerings, particularly for domestic customers, with a focus on pure wool and poly wool fabrics, ethnic wear, and Jacquards, according to the statement.
The company said it is paying special attention to the luxury market and have launched a new brand, GH-Insignia.
BSL exports fabrics to over 55 countries, as well as an exclusive selection of upholstery fabrics for curtains and upholstery and has a dealer network across India and a strong presence in the market, according to the statement.
Commenting on the expansion, Managing Director Nivedan Churiwal says, India has one of the fastest-growing cotton spinning businesses in the entire world, and there is an extensive market for cotton yarn and other cotton-based products in the country and abroad. This is due to various factors like the recent China One Plus Policy, strong demand from the Indian and international markets, an abundant supply of raw materials and production of high-quality goods by Indian manufacturers.
He stated that BSL will be able to meet the set business goals with the help of multiple initiatives such as the newly established cotton spinning facility, other expansion plans, and our diverse portfolio.
