SEL net up 90% at Rs 44 .85 cr

The company is currently implementing two projects. The first one involves setting up of terry towel project and green field captive power plant and expansion of spinning capacities by another 75600 spindles. The project being set up in Ludhiana entails a capex of Rs 410 crore being financed by term loan of Rs 273.50 crore and balance from promoters' contribution.

The second project involves setting up of greenfield technical textiles and open end spinning facilities and further expansion of terry towel and captive power plants. The total cost of project has been worked out at Rs 611.67 crore, which is proposed to be financed by way of rupee term loan of Rs 480 crore and equity of Rs 131.67 crore. The company has already issued convertible warrant to certain FII's/domestic funds and promoters to bring in the required equity for the project.

It has also conceived a project for further expansion of spinning capacities, expanding the terry towel capacity and captive power plant at a capital expenditure of Rs 1500 crore, which is proposed to be financed by mix of rupee term loan, internal accruals and equity.