Stories
Aastha Spintech Secures Rs 25 Crore Greige Fabric Order, Two-Year Supply Deal.
- •Aastha Spintech Limited has received an order worth approximately Rs 25 crore from JSK Textile LLP.
- •The order involves manufacturing and supplying about 750 MT of greige fabric over a two-year period.
- •The company will commence work on the order in two months, with an initial supply of 30 MT of greige fabric.
- •Chairman Divyang Jaswantbhai Patel stated the order strengthens textile operations and enhances business visibility.
- •Aastha Spintech is implementing a 'Three-Pillar Growth Strategy' focusing on financial excellence, shareholder rewards, and vertical integration from yarn to fabric.
Key Questions Answered
Aastha Spintex received a long-term, non-cancellable order worth approximately Rs 25 crore from JSK Textile LLP to manufacture and supply about 750 MT of greige fabric within two years, with supply commencing in two months starting with an initial 30 MT.
Following the acquisition of Falcon Yarns Private Limited, Aastha Spintex's annual spinning capacity will increase from 7,700 MT to 17,457 MT, and its spindle capacity will grow from 25,920 to 61,824, creating a large manufacturing platform for future expansion.
Under its Three-Pillar Growth Strategy focusing on financial excellence, shareholder rewards, and vertical integration, the board approved a 1:1 bonus issue and decided to increase the company's authorized share capital from Rs 45 crore to Rs 100 crore.
