Disappointing set of numbers by Singer India again. But there are clear signs of change happening within the company.
Company has announced ~7x increase in production capacity with only 15lks investment from 90000 machines to 630000 machines!!!
625fc3c7-bf78-4b26-a7f4-ac7f47462de3.pdf (bseindia.com)
As per the filling this is done to increase backward integration and all for Exports.
Singer India Embarks on a Technological Revolution - Indian Retailer
SVP Worldwide To Make India Global Hub For Singer Machines, Plans New Unit (ndtvprofit.com)
“We are looking at Zig-Zag, which is today around 7% of the market. We are expecting this to grow tremendously fast, at a rate of around 50% of growth for…year-on-year for the next three years,” he said, adding, “in the normal sewing machine market, which is rather stagnant and not growing at a high rate, where we are continuously looking at around 10-15% growth for the next three years.”
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