KPR Mill zooms 6% on plans to establish new garment factory worth Rs250cr

The company said factory in Coimbatore with 42 Million Garments per annum will cater to the growing market demand.

Oct 28, 2020 01:10 IST India Infoline News Service

To cater to the growing market demand and towards stepping up of efforts tapping the potential markets, KPR Mill Limited is venturing into the expansion of its Garment segment by establishing a new Garment factory with 42 Million Garments per annum at an estimated Project cost of Rs250cr. The Factory is coming up near Coimbatore, within the proximity of existing facilities to avail the benefits of integrated activities.

Around 1.30 pm, K P R Mill is currently trading at Rs716 per piece up by Rs39.3 or 5.81% from its previous closing of Rs676.70 per piece on the BSE. The scrip opened at Rs690.30 per piece and has touched a high and low of Rs782.95 per piece and Rs690.30 per piece respectively.

“The Indian Apparel Sector with the history of fine craftsmanship and global appeal has emerged as the most preferred destination for international brands. The strong raw material base and the availability of skilled labour carries huge opportunities for Indian Textile players. Current market situation and global scenario give a lot of opportunities favouring the Indian Garment sector.

KPR has demonstrated a high level of quality consistency; commitment; best sustainable practices; Green manufacturing practices; empowerment of rural workforce, more particularly women fraternity that have garnered trust and reputation among the International Buyers,” company said in a regulatory filing on Tuesday.

It further said that the enquiries from the current clientele as well as from the new Markets are much encouraging and there exists a bright prospect to be explored aggressively focusing on the US and other potential markets.

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