SYBLY Industries goes green; ties up with GEM Enviro Management

SYBLY Industries tied up with GEM Enviro Management for marketing of its polyester yarn made from recycled fibre under company’s brand “SyGreen”. SyGreen is a new brand name under which it plans to sell its recycled yarn, which was launched a few weeks back.

The company has posted strong numbers in Q1FY17. The sales of the company in Q1 stand at Rs 23.19 crores which has increased by 46.67 per cent as compared to Q1FY16. EBITDA has jumped by 271 per cent to Rs 1.28 crores in Q1FY17. PAT stands at Rs 0.98 crores vs Rs 0.017 crores in corresponding quarter of the previous fiscal.  

SYBL informed the bourses, that it will increase its polyester yarn manufacturing capacity to 20000 spindles from its current capacity of 10000 spindles by getting yarn from running mills on job work basis and is in talks with 3 manufacturers based in Punjab, Haryana & U P to manufacture 100 percent Polyester Yarn using recycled fibre exclusively, after which the profitability will go up sharply. 

Mahesh Mittal, CEO of the company is confident that, SYBL will be a Rs 500 crore company shortly. With its ventures in Turkey and USA, the company plans to have strategic tie-ups over the next 2 years to achieve this target. The shares of the company in the last 1 year have surged over 300 per cent.