Nitin Spinners recently announced capex of Rs 950 crore for capacity expansion.
The company plans to add 1.51 lakh equivalent spindles as well as expand its knitted fabrics capacity by 2500 metric ton per annum. The expansion is likely to be completed in 20 months.
In an interview to CNBC-TV18, Dinesh Nolkha, MD of Nitin Spinners said the company will increase overall capacity by 35-40 percent across the board.
He said the demand in textiles is very robust and expects an additional revenue of Rs 1,150 crore due to the expansion.
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