Ventura Textiles eyes Rs 75 cr turnover in FY 08

Nashik-based Ventura Textiles Ltd (VTL), a manufacturer and exporter of cotton fabric, made-ups and home textiles (bed linen), has recorded a 16.13 per cent rise in sale turnover during fiscal 2006-07. The company has set a Rs 75 crore sales turnover target for the present fiscal.

Ventura Textiles Ltd¿s manufacturing facility is located at Gonde, 25 km from Nashik. The company manufacturers cotton fabric, made-ups & home textiles (Bed Linen). The Company has been exporting Fabric to US, UK, Europe & South East Asia for a decade.

"The company has seen its sales turnover rise to Rs. 64.13 crore in FY 2006-07, against Rs. 55.22 crore during the previous fiscal year (FY 2005-06). The company has set the target of Rs. 75 crore sales turn over for the current fiscal year (FY 2007-08)," P M Rao, CMD, Ventura Textiles Ltd, told Business Standard.

"At present, the company has 960 rotors producing about 8 tons O E yarn (coarser) and 56 wider width sulzer machines producing about 15,000m a day and the company is now in expansion mode. Primarily, the expansion is focussed more on processing capacity with the state-of-the-art equipment with a capacity of 60,000m a day. We are also converting our OE yarn into ring spinning with the installation of 20,000 ring frames to produce about 4 tonnes of compact yarn per day to meet in-house weaving. We will also be adding 8 wider width dobby weaving machines," he said.

"After stabilising the production lines of this proposed expansion, we will be coming up with spinning and weaving to balance the 60,000m processing, besides adding printing. This will happen in the next 2 years, which will enhance the bottomline significantly. In order to get better price realisations, we will be focussing on value-added products namely dobby designs, designer hem treatments, embroidery and jacquard attachments in high value products," Rao said.

In 2006, Anil Dhirubhai Ambani Group (ADAG) Company, Reliance Capital Ltd, invested Rs 27 crore in a mix of equity and debt, strengthening the financials of the company (Ventura Textiles Ltd). ADAG has a 14.84 per cent stake (Rs.6.crore) and Rs.21 crore in the optionally fully-convertible debentures.