Nahar Spinning Mills gets board’s approval to put up new plant in MP

Nahar Spinning Mills part of Ludhiana based Nahar Group of Companies, one of the largest integrated textile player and also the second largest cotton yarn manufacturer in India. The company’s board gave approval at its meeting held on December 23, 2015 for putting up a new spinning plant with 60480 spindles at Village Tamot, Tehsil Goharganj, District Raisen, in the State of Madhya Pradesh.

Nahar Spinning Mills started out as a tiny worsted Spinning & Hosiery unit in Ludhiana. The company’s steady growth in manufacture and Export of woollen/cotton hosiery knitwears and woollen textiles enabled the company to earn the recognition as an ‘Export House’ followed by a ‘Recognized Trading House’ by the Government of India in a short span.

Initially set up as a tiny worsted spinning and hosiery unit in Ludhiana, Nahar Spinning Mills became a public limited company in 1983. The steady growth in manufacture and export of woollen/cotton hosiery knitwear and woollen textiles enabled the company to earn the recognition as an ‘Export House’ followed by a ‘Recognised Trading House’ by the Government of India in a short span.

Simultaneously the company also established an ultra modern facility to manufacture 12.5 million pieces of Hosiery Garments. Today, Company’s products i.e. T-Shirts are being exported to reputed international brands such as GAP, Arrow, Old Navy, Banana Republic, Chaps … etc.

Today, the Company has 7 multi location plants, a range of products, over 60% of which is aimed at export markets – USA, UK, France, Brazil, Bangladesh, Mauritius, Hondurus, Argentina, Colombia, Peru, Chile, Netherlands, Japan, Canada, Korea, Taiwan, Hongkong, Singapore, Egypt and Russia.

Nahar Spinning Mills is currently trading at Rs. 123.50, up by 2.20 points or 1.81% from its previous closing of Rs. 121.30 on the BSE.