Bhandari Hosiery Exports (BHE), an exporter and supplier of garments, plans to invest Rs 15 crore in machineries for yarn dyeing and sewing threads units at its existing facility at Ludhiana, according to media reports.
BHE chairman and managing director Nitin Bhandari said the capex will be funded through internal accruals and bank loans.
Bhandari said the company had invested Rs 22 crore in expanding its fabrics division last year.
The company manufactures cotton-knitted garments for export to Germany, Belgium, France, the Netherlands, Norway, US, UK, Canada, Hungary and Finland. The EEC countries also offer a huge market for knitted and readymade cotton garments.
BHE hopes to achieve exports of Rs 40 crore on a turnover of Rs 170 crore in FY 16 as compared to exports of Rs 20 crore on a turnover of Rs 120 crore in FY 15, Bhandari said.
