Filatex Fashions to incur capex of Rs300 crore in next 18 months; Stock gains near 5%

29 Nov 2022 , 09:18 AM

Filatex Fashions Limited has informed to the exchanges that it is planning for expansion of its production facility and in the process will make a capex of around Rs300 crore in next one and a half year.

Some of the expansion plans are mentioned hereunder:

• Installation of another 500 machines to meet the growing demand for the Company’s existing products. The said machines will require about 400,000 sq feet of space for installation. The Company’s existing land will be enough to accommodate the extra space required for the new machines.
• Acquiring 100 units of Cut and Sew machines for manufacturing of T- Shirts and Tracks.
• Yarn Dyeing Plant.
• Covering Machines

Further, the company expects to create an additional workforce of more than 1000 people from the expansion process. Also, the company expects an additional turnover of around Rs400 crore from the expanded facilities. 

Notably, the company is in advance talks for acquiring socks manufacturing unit, i.e. Isabella Sri Lanka.

At around 9:17 AM, Filatex Fashions Ltd is currently trading at Rs25 per share up by Rs1.15 or 4.82% from its previous closing of Rs23.85 per share on the BSE.

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