Indo Count Industries (ICIL) plans to spend Rs. 70 crore in its processing and made-ups unit at its home textiles division. This is proposed to be funded by way of debt of Rs. 49 crore and the balance through internal accruals. Financial closure for the project is yet to be achieved. As on July 01, 2014, ICIL has spent Rs. 25 crore towards the project by way of internal accruals. The increase in its processing capacity will enable the company to increase production from 96000 meters per day to about 1.45 lakh meters per day which is likely to result in a 30% increase in total operating income.
ICIL is primarily engaged in the manufacturing of home textile products, particularly bed sheets, pillow cases and exports about 83% of its total production to countries like USA, Europe, Australia, etc. As at the end of FY14, the textile division of ICIL had 59,520 spindles, 8 knitting machines, 128 air jet looms and processing (bleaching, mercerizing, dyeing, printing) capacity of 36.50 million meters per annum. For its consumer durables division (television-CTV and assemblies), ICIL had an installed capacity of 5 lakhs pieces per annum.
