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Hanil Era bags Rs 25 crore export order for yarn
Order to be executed in three months
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| Mumbai, February 3, 2005: Hanil Era Textiles Ltd., a 100% EOU based out of Patalganga in Maharashtra and the largest acrylic yarn exporter in the country, has bagged a large export order for acrylic and cotton yarn worth Rs 25.25 crore ($6 million). This is over and above the existing order book position of Rs 20 crore. |
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| Announcing the order, R K Agarwal, Chairman, said, “The huge export order has come to us from Chungi Industrial Company of South Korea. This is for 1,300 tones of yarn – 100% acrylic as well as 100% cotton yarn. This is slightly more than one month’s production for us. We have three months to deliver this order, i.e. the order has to be completed by April 2005. We are very pleased with this order, which will contribute substantially to our topline as well as bottomline. More such orders can be expected in the future, as we penetrate more markets.” |
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Hanil Era Textiles has a capacity to produce 1,200-1,250 tonnes of yarn per month. The company has reported a net profit of Rs 7.06 crore in Q3 of FY05 while sales have shown an increase of 21.72% in Q3, from Rs 30.57 crore in the 3-month period ended December 2003 to Rs 37.21 crore in the 3-month period ended December 2004. Hanil Era has now become a zero-debt company, except for the working capital limits that it enjoys with a few banks. For the nine-month period ended December 2004, Hanil Era has reported sales and profits of Rs 86.01 crore and Rs 4.85 crore respectively. |
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| Post MFTA (Multi-Fibre Trade Agreement) regime, Hanil Era is all geared up to exploit the best possible from its existing facilities as well as set up new facilities to become self-dependent in providing higher value added products. Moving on these lines, it is embarking upon a Rs 50 crore modernisation-cum-expansion programme. While it has been a yarn manufacturer till now, the company is now going in for a weaving capacity at its existing facilities at Patalganga by setting up 72 looms. |
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| About Hanil Era Textiles Ltd. |
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| Established in 1992, Hanil Era Textiles Ltd. (BSE Code: 500177) is a 100% EOU that was floated as a JV between New Era Fabrics Ltd. of Matunga (Mumbai) and Hanil Synthetics Fibre Company Ltd. of South Korea. The company went public with a NCD issue in 1993. Hanil Era has a yarn manufacturing capacity at Patalganga in Maharashtra, where it makes worsted, cotton and blended yarn with a total spindelage of 80,000. It has its own power generation unit with a capacity of 16.5 MW and it supplies excess power to neighbouring corporates via the MSEB grid. It has recently set up an ethanol dehydrator with a capacity of 200 KL/day to supply pure ethanol to chemical units and oil companies. It is now implementing a modernisation-cum-expansion programme costing Rs 50 crore. The two-phase expansion exercise is for adding 72 looms to make grey fabrics, bedsheets, curtains and terry towels. |
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