Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Stock Report

| More

Pioneer Embroidery Ltd commences Production at its new Embroidery facility

Posted On: 2023-09-14 21:56:53 (Time Zone: IST)

Pioneer Embroidery Ltd. (PEL), has commenced the commercial production of Embroidery and Laces (EL) at its new plant at Shree Ganesh Integrated Textile Park (SGITPL), Degaon- Dhule in Maharashtra. All the required regulatory approvals were received by end-August, 2023.

PEL has 8 computerised, high-end machines, imported from Lasser AG, Switzerland, now installed at Degaon unit, completing its second leg of the business strategy. Earlier in August 2022, PEL had disposed off its production unit at Coimbatore, including its old equipment comprising of about 14 smaller and low speed machines. Investment in the Degaon unit was made with an aim to consolidate embroidery production, modernise its equipment to cut down on associated labor costs and thus improve efficiencies to remain competitive in the market.

PEL's embroidery manufacturing capacity now stands at 2,400 mln stitches of embroideries across its Degaon, Sarigam and Naroli units, while prior to the sale of Coimbatore unit, PEL's capacity stood at 1,700 mln stitches. Bobbin laces capacity remains unchanged at 14 mln meters.

The Company is now looking to shore up its turnover in the immediate months on back of the festival demand and export orders. In the EL segment, Company already has certain advantages of established marketing presence across the country, sound networking with exporters, outsourcing capabilities, well-recognized brands in both B2B and B2C segments, extensive design library and over three decades of experience in this business. With improved manufacturing capabilities, the Company further aims to enhance its efficiency, product range and quality.

In FY2023, the Embroidery and Laces (EL) business had experienced a robust demand recovery in both domestic and international markets, achieving a turnover of ?4,582 lakhs, a 14.21% increase from the previous year's ?4,012 lakhs.

The total investment in the plant and equipment at Degaon has been approximately Rs. 41 cr, while the building has been taken on lease from SGITPL. At peak utilisation, the new unit can achieve a turnover of about Rs 50 cr. The building premises and support infrastructure are sufficient for further capacity expansion.

PEL is also a lead promoter in the Shree Ganesh Integrated Textile Park (SGITPL), having separately invested Rs 10.56 cr for a 33.2% stake.

Shares of Pioneer Embroideries Limited was last trading in BSE at Rs. 49.50 as compared to the previous close of Rs. 49.82. The total number of shares traded during the day was 7939 in over 267 trades.

The stock hit an intraday high of Rs. 52.00 and intraday low of 49.11. The net turnover during the day was Rs. 400410.00.

Click here to send ur comments or to

Other Headlines:

Meson Valves India Ltd acquires Milindpra Castings Pvt Ltd

ideaForge Technology Ltd invests in GalaxEye Space Solutions Pvt Ltd

Suryoday Small Finance Bank Ltd sanctions term loan facility of Rs. 10 crore to Star Housing Finance Ltd

Tata Elxsi Ltd reports lower Q1 FY2024-25 net profit of Rs. 184.07 crores

JTL Industries Ltd Q1FY25 consolidated PAT at Rs. 30.70 crores

Vashu Bhagnani Industries Ltd Q1 FY2024-25 consolidated profit at Rs. 5.68 crores

KCP Sugar and Industries Corporation Ltd reports Rs. 54.11 crores consolidated PAT in Q1FY25

Kesoram Industries Ltd Q1FY25 consolidated loss at Rs. 62.02 crores

SG Finserve Ltd Q1 FY2025 net profit slips QoQ to Rs. 19.38 crores

Storage Technologies and Automation Ltd to open new sales branch office at Thane West

UGRO Capital Opens a New Branch Office in Indore to Empower MSMEs

Angel One Reaffirms Robust Data Security and Compliance

Zydus receives tentative approval from USFDA for Diroximel Fumarate Delayed-Release Capsules, 231 mg

Juniper Green Energy Secures 480 MW in Hybrid PPAs with GUVNL and NTPC

JLR India announced a strong start to FY25

IRCTC & DMRC QR Code Ticketing under 'One India - One Ticket' Initiative

State Bank of India's Senior Unsecured Long Term Bond Issuance

Oriental Rail Infrastructure Ltd secures orders worth Rs. 19.33 crore

Sula Vineyards Limited - Sales Update - Q1 FY25

Ahasolar Technologies Ltd receives order worth Rs. 45 lacs

Westside launches its 229th store in Faridabad

Satin Creditcare Secures 15 Million Euros Debt Funding from OeEB

Pecos Hotels and Pubs Limited recommends final dividend of Rs. 3

TVS Motor Company Launches 2024 TVS Apache RTR 160 - Racing Edition

Zydus receives final approval from USFDA for Sacubitril and Valsartan Tablets

Revolt Motors Launches - Industry-First Finance Scheme: '4 Chauke Offer'

OK Play India Limited approves IPO of OK Play Auto Pvt Ltd

Rail Vikas Nigam Limited signs MoU with IMS Consultancy Pvt Ltd

Sky Industries Ltd to participate in Textile Fairs-India 2024

Greaves Finance Ltd partners with ACKO to facilitate seamless EV ownership across India

ITCONS E-Solutions Limited receives contract worth Rs. 41.15 lakhs

GE Power India Ltd receives order from MRPL

Mahan Energen Ltd ceases to be wholly owned subsidiary of Adani Power Ltd

Rail Vikas Nigam Ltd receives LOA from Nagpur Metro

Adani Ports and Special Economic Zone Ltd receives LOI for Berth No.13 at Deendayal Port

Mehai Technology Limited receives order from Sungevity Enterprises Pvt Ltd

Eraaya Lifespaces Ltd Q1FY2025 PAT up at Rs. 95.49 lakhs

Rajnish Wellness Ltd Q1FY25 profit at Rs. 16.70 lakhs

Delta Corp Ltd posts consolidated PAT of Rs. 21.68 crores in Q1 FY2024-25

R S Software India Ltd consolidated Q1 FY25 net profit drops QoQ to Rs. 4.58 crore

Tanishq Opens Expansive Showroom at Omaxe Chowk

Zaggle receives prestigious awards for superior brand and product innovation

Rail Vikas Nigam Limited signs MoU with TATWEER Middle East and Africa LLC

Fusion Micro Finance Ltd is now Fusion Finance Ltd

BLS International Holding Anonim ┼×irketi, Turkey successfully completes acquisition of 100% stake in iDATA

Abans Holdings Limited gets registration of IFSC branch

Advait Infractech Ltd receive LOI from KPI Green Energy Ltd for orders

KIMS HOSPITALS announces acquisition of 200-bed multi-specialty hospital in Vizag

Spectrum Foods Limited converts 1,82,21,671 shares into fully-paid up on receipt of call money

Shilpa Pharma Lifesciences Ltd, Unit 2, Raichur, Karnataka has cleared the ANVISA-Brazil GMP inspection

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020