A big vertically integrated corporation with a varied business emphasis that includes yarn, textiles, garments, and white crystal sugar, KPR Mill Ltd., situated in Coimbatore, is investing close to $400 crore in a number of modernization and growth projects.
It anticipates finishing the plans to build a vortex spinning mill at an investment of $100 crore within the current fiscal year. According to the company’s FY23 annual report, it also anticipates the modernization plan for the textile business, with an outlay of 100 crore, to be completed this year.
Before the sugar season of 2023–2024, it would start expanding its ethanol production at a cost of Rs. 150 crore. According to the company’s chairman KP Ramasamy Chairman, the $50 crore processing and printing expansion will be finished in the first half of the current fiscal year.
The business produces a variety of textiles, including compact, melange, carded, polyster, and combed yarn as well as ready-to-wear knitted clothing and fabrics. The company declared a net profit of 814 crore on revenue of 4,909 crore for the fiscal year ending March 31, 2023.
According to the corporation, a change in global textile trade patterns has created a major opportunity that the textiles sector must seize quickly. Despite the enormous opportunity, the government and the business community must work together quickly because the rest of the world cannot wait.
