Nitin Spinners expands capacity, revenue grows 21%

Nitin Spinners successfully completed their ambitious Rs 955 crore expansion project, boosting their capacity and revenue. The company's new capabilities include 434,832 spindles, increased rotor and machinery counts, reflecting a 35-40 per cent overall growth potential.
Nitin Spinners' revenue for FY24 reached Rs 2,905.65 crore, a 21 per cent jump from the previous year. However, profit after tax (PAT) decreased due to a higher tax rate.
Nitin Spinners' Managing Director, Dinesh Nolkha, attributed the company's revenue growth to the successful execution of their expansion plan. He emphasized their commitment to further growth and market expansion.
The company highlighted its focus on efficiency through technology, process streamlining, and workforce investment. These efforts have improved operating margins.
Looking ahead, Nitin Spinners remains committed to innovation, operational excellence, and sustainable growth. They've also significantly increased their solar power capacity to 23 MW, reflecting their commitment to sustainability.