Sangam India bags new orders worth Rs 40 cr

Mumbai, Apr 5 (UNI) Sangam India Ltd today announced that they had bagged new orders worth Rs 40 crore, thus taking the total order book position to Rs 110 crore last month.

The company has bagged fresh export orders worth Rs 20 crore from countries like Turkey, Egypt, Poland and United Kingdom. It has also bagged orders worth Rs 20 crore from large domestic manufactures which have to be executed in the next three months.

The company has recorded cent per cent growth in sales at Rs 173 crore in the financial year 2006-07 compared to Rs 86 crore in corresponding period last year, a company release here today said.

Export sales of Yarn has increased from USD 11.5 ml to 25.4 and exports of fabrics has increase form USD 8.4 ml to 12.2 ml.

''We are witnessing a swift acceptance of our polyester-viscose dyed yarns and fabrics worldwide. We have explored the new market and enhanced customer base in more than 30 countries. This is the second consecutive year when our exports grew by more then cent per cent.

During the current financial year Sangam has achieved exports sales of 173 crore. Going forward, we plan to enhance our presence in European and US markets in line with our growth strategies,'' Sangam Chairman R P Soni said.

Meanwhile, the company's Rs 707-crore expansion plan has progressed on schedule, Mr Soni added.

UNI