Filatex Fashions gains on 300-cr capex plan

29 Nov 2022 , 09:51 AM

Under this expansion, the company will install another 500 machines to meet the growing demand for the companys existing products. The said machines will require about 400,000 square feet of space for installation and the companys existing land will be enough for the same. It is in the process of acquiring 100 units of cut and sew machines for manufacturing of T-shirts and tracks, yarn dyeing plant and covering plants. This capex will generate additional turnover of around Rs 400 crore and provide employment to more than 1,000 workers. The company said that it is in advance stage of talks for acquiring socks manufacturing unit, Isabella Sri Lanka. Filatex Fashions the principal activity of the company is to manufacture Socks. The company reported a net profit of Rs 4.56 crore in Q2 FY23 as against a net profit of Rs 1 lakh posted in Q2 FY22. Net sales surged 461.4% YoY to Rs 43.62 crore in the quarter ended 30 September 2022. Powered by Capital Market – Live News