Sumeet Industries starts project of 100000 TPA worth Rs 150 cr

Sumeet Industries Limited, (BSE: 514211) one of India’s largest players in the Polyester  Chips , Polyester Filament Yarn and Polypropylene Yarn segment, has commissioned its new project of 100000 TPA Continuous Polymerization (Pet Chips) Plant and 6MW Gas based Genset Captive Power Plant. This being a backward integration project the commercial production of the same has been started from 1st July, 2009. The valuation of the entire project is estimated to be Rs. 150 crore.

The company’s expansion for enhancement of capacity of production of  POY and FDY project has been successfully completed and commissioned. The commercial production of the project has been stated on 11th March, 2010. Due to this expansion the total capacity of the company’s POY and FDY production has been increased from 12000 TPA to 56500 TPA ( around 4.5 times ) .

In the year 2010-11, this project is expected to increase the turnover of the company around 775.00 Crores and net profit of the company is estimated to increase around 12 times from Rs. 3.81 crores ( F.Y. 2008-09 ) to Rs. 46.00 Crores ( 2010- 11). The EPS of the Company is also estimated to reach Rs. 11.67 in FY 2010-2011 as against the present.

About Sumeet Industries Ltd.
Surat based Sumeet Industries Limited (SIL), started as a Polyester Yarn & Polypropylene Yarn   manufacturing unit & has now grown into a huge conglomerate with various businesses. Sumeet Industries is primarily involved in integrated production of Pet chips, superior quality Polyester Yarn, & Menthol allied products.

They have a full-fledged department for each division & all the products manufactured go through stringent tests to assure quality & consistency. The company is equipped with superior quality yarn to match international standards, In-house Power Generation Plant. The company runs 8.5 MW Gas based Genset Power Plant for its captive use.

It has a strong dealer network throughout to sell Polyester yarn. Sumeet Industries is exporting its products to U.S.A., Eqypt, Argentina, Saudi Arabia, Syria, South Africa, Nepal, Bangladesh & have also been recognized as a Star Export House by the Government of India. They have also received the highest export performance in polypropylene Yarn in 2001-02 & Gold Trophy for Outstanding Export performance for year 2001-02 from SRTEPC.