Due primarily to an increased order book, textile maker A B Cotspin India has stated that it expects its turnover to increase by more than 8 per cent to around US $ 32.47 million in the current fiscal year.
A B Cotspin India declared that it had received an order for 100 tonnes of 100 per cent BCI Cotton Yarn, which is estimated to be worth US $ 0.37 million. With a robust order book of almost 700 MTs, valued at US $ 2.48 million, A B Cotspin is positioned to benefit from the rising demand for premium textile products, according to a release.
In order to fulfil its goals for future expansion, the company is dedicated to increasing its manufacturing capacity and capabilities.
A B Cotspin plans to buy SEL Textiles Ltd. as part of its strategic growth plan, which would improve the company’s market position and capacity to provide clients with prompt, effective services, the statement said.
For FY 2024–2025, the company expects revenues of about US $ 30.69 million–US $ 32.47 million and EBITDA of about US $ 3.42 million–US $ 3.77 million, it said. FY 2023–24 had sales of US $ 30.19 million and EBIDTA of US $ 2.91 million.
In a move that will greatly improve its manufacturing capacity and market position, the company has also submitted an Expression of Interest (EoI) to purchase SEL Textiles Ltd. in consortium.
