MIL plans to hit the 100cr export fig in this financial year

Mohit Industries Ltd is a business conglomerate that undertakes in Textiles and AAC Blocks Business. The company is today, one of the top manufacturers of fabrics and texturised yarn in the nation. MIL export continues to drive the growth clocking Rs. 75 crore till now from Rs. 39 crores as against FY 2014. Major export is from Yarn Division and it will impact the bottom line of the company

Mr. Narayan Saboo, Managing Director of Mohit Industries Ltd said that they are very optimistic to hit the 100cr export fig in the financial year. Also their team is working on the Vision Given by the PM Mr. Narendra Modi the effects will be seen in the coming quarters.

Sitaram N. Saboo, Managing Director, Mohit Industries Limited has more than 50 years of experience in textile manufacturing and has earlier provided his services at companies like Baroda Rayon, Century Rayon, Indian Rayon, National Rayon etc.

The Textile segment offers various textile products, such as texturised yarn, twisted yarn, grey cloth fabrics, and finished cloth fabrics. The company also exports its DTY yarns to South Korea, Italy, Spain, Germany, Mexico, Thailand, Peru, Bangladesh, South Africa, Egypt, Brazil, Colombia, Guatemala, Vietnam, and internationally.

They expect India to gain commendable market share in the textile sector due to raw material advantage. As India enjoys several advantages with regard to textiles – large pool of skilled labour equipped with design skills, flexible production systems, dynamic entrepreneurs and huge production capacity. These advantages have led to increase in gross textile exports. India accounts for 12% of the world’s production of fibre and yarn. They expect the industry to grow at a fast pace over the next 3-5 years driven by capacity addition and increasing wallet share of customers.

The company have planned expansions in both their divisions – Textile as well as AAC Blocks Business. In the textile division the Company is already planning to put up 50 Shuttleless Looms, 6 Texturizing Machines and 2 Air-Texturizing Machines in the upcoming 9 months. This shall be done at a total capital outlay of Rs. 33 Crores out of which around Rs. 25 Crores shall be funded from Banks.

The current capacity of Texturised yarns is 18000 MT per annum. They are further enhancing this capacity by 7000 MT to 25000 MT. which will be completed in the coming 6-9 months by July 2015.

The current manufacturing capacity of fabrics is 9 million metres per annum that will be further enhanced by 4 million metres per annum to reach 13 million metres per annum. This shall be completed in the coming 3 months by Feb 2015.

The company was Incorporated in the year 1991 initially started as a family business. The company has grown to become a public limited company with more than 500 employees. The company is actively working on the development and growth of traditional textile business along with AAC Business. MIL was primarily into textile industry and has recently diversified into the construction materials industry in adherence to its long term vision and goals.