KPR Mills’ Garment Order Book Stands At Rs 1,100 crore

Business

KPR Mills’ Garment Order Book Stands At Rs 1,100 crore

Coimbatore-based KPR Mills has reported garment orders worth Rs 1100 crores.

According to P Nataraj, Managing Director, KPR Mills, “The order book is at an all-time high now, and a lot of inquiries are going around. Large garment players are doing well in the Tiruppur region; only the smaller players are having issues.”

Added P.L. Murugappan, the company’s CFO: “There is a little sluggishness in the yarn business in terms of margins, but volume is good. The margin will be little lower than the regular margins.” He said the company added Walmart as its customer for US exports, and increased the volume to GAP for both the US and European destinations. “We have added GAP as a major customer during this quarter in both the US and Europe,” he added.

During the nine months ended December 31, 2023, overcoming various challenges, KPR generated a consolidated revenue of Rs 4,418 crore and net profit of Rs 592 crore. The factors that impacted the financials during the period were fall in cotton prices resulting in reduced selling price for yarn during the quarter. The fall in yarn margin was also due to subdued demand at international markets, he said.

The company is expanding the garment processing capacity with an outlay of Rs 250 crore, along with the solar power plant Rs 100 crore with the capacity of about 25 MW. “With this our solar and wind capacity will reach about 100 MW. KPR already has a capacity of about 100 megawatts,” said Murugappan.

There is a little sluggishness in the yarn business in terms of margins, but volume is good. The margin will be little lower than the regular margins.”

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