A B Cotspin India Targets Rs 275 Cr Turnover in FY'25

New Delhi, Dec 5 (PTI) Textile manufacturer A B Cotspin India on Thursday said it is eying over 8 per cent rise in its turnover to around Rs 275 crore in the current fiscal mainly on the back of an improved order book.

A B Cotspin India announced receiving an order for 100 tonnes of 100 per cent BCI Cotton Yarn, valued at approximately Rs 3.20 crore.

According to a statement, with a strong order book of approximately 700 MTs, valued at Rs 21 crore, A B Cotspin is well-positioned to capitalize on the growing demand for high-quality textile products.

The company is committed to expanding its manufacturing capacity and capabilities to meet future growth aspirations.

As part of its strategic growth plan, A B Cotspin is aiming to acquire SEL Textiles Ltd which will further strengthen the company's market position and enhance its ability to deliver timely and efficient services to its customers, it stated.

The company anticipates sales of around Rs 260-275 crore and EBITDA of approximately Rs 29-32 crore for FY 2024-25, it stated.

The sales for FY2023-24 were Rs 255.77 crore and EBIDTA was Rs 27.64 crore.

The company, in a consortium, has also submitted an Expression of Interest (EoI) to acquire SEL Textiles Ltd, a move that will significantly enhance its manufacturing capacity and market position.

"The company's focus on quality, innovation, and sustainability has enabled us to build strong and enduring partnerships with prestigious clients," says a spokesperson of the company in the statement.