Sybly Industries secures Rs 10 crore orders

New Delhi, Nov 13: Sybly Industries Ltd today said it has won orders worth Rs 10 crore for its polyester yarn and branded thread products.

The company has an order book position of Rs 35 crore for the first half of this financial year indicating a growth of over 40 per cent over the previous year.

It has has also completed its first wave of expansion and upgrading its machinery as a result of which the output has increased by 25 per cent and costs are down by 20 per cent, a statement said.

The company has completed the first phase of expansion even as the second phase is well in progress to be completed by December next year.

For the second phase of expansion, orders for the textile machinery have already been placed with Coimbatore-based Lakshmi Machine Works and Schalfhorst of Germany, a supplier of autoconers.

The company's branded products 'Dagger' and 'Sybdura Poly' helped post a 42 per cent rise in quarterly profits and a 40 per cent jump in sales.

UNI