Sangam India secures orders worth Rs 40 crore

Sangam India Ltd on April 05, 2007 has announced that the Company has bagged new orders worth Rs 40 Crore, thus taking the total order book position to Rs 110 crore as on March 31, 2007. The Company has bagged fresh export orders worth Rs 20 Crore from countries turkey, Egypt, Poland and United Kingdom. Further, the Company has bagged orders worth Rs 20 crore from large domestic manufactures. These orders are to be executed in the next three months.

The Company has recorded a 100 per cent growth in sales at Rs 173 crore in the financial year 2006-07 compared to Rs 86 crore in corresponding previous year, Export sales of Yarn has increase from $ 11.5 ml to 25.4 and exports of fabrics has increase form $ 8.4 ml to 12.2 ml.

Elaborating on Company's export strategy, Mr. R P Soni, Chairman, of the Company said, "We are witnessing a swift acceptance of our polyester-viscose dyed yarns & fabrics worldwide. Company has explore the new market and enhanced customer base in more than 30 countries, this is the second consecutive year when Companies exports grew by more then 100%. During the current financial year Company has Achieved exports sales of 173 crore. Going forward, we plan to enhance our presence in European & US markets in line with our growth strategies."

Meanwhile, Company's Rs 707-crore expansion plan has progressed on schedule.

Source : Equity Bulls

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