India’s largest denim fabric maker gets honoured as one of the giants of tomorrow
Nandan Denim Limited (NDL), poised to be Asia’s largest denim fabric manufacturer, has been honoured as one of the giants of tomorrow by Fortune India in its 500 Biggest & Best Midsize companies’ rankings. Nandan Denim ranks at number 38 among the Fortune India Next 500 (2016) companies for wealth creation over 3 years (59.64% CAGR). Besides, over 5 years, it ranks 42nd with 45.21% CAGR increase in market capitalisation as of April 2016. Every year, Fortune India comes out with the definitive ranking of India's 500 biggest and best midsize companies. The list celebrates those organisations that fuel India’s economy
Nitin Gadkari, Union Minister for Road Transport and Highways and Shipping presented the award to Deepak Chiripal, CEO of Nandan Denim Ltd.at ceremony organised at Leela Palace, Chanakyapuri, New Delhi on August 19, 2016.
On receiving the award, Deepak Chiripal said, “It is indeed an important moment for us, as the company’s efforts have been recognised by a leading and globally reputed publication. We are now further motivated towards continuing our efforts for quality excellence and commitment.”
Nandan Denim Limited is a part of a leading conglomerate, Chiripal Group, which was established in 1972 and is currently diversified across several businesses like Textiles, Petrochemicals, Chemicals, Packaging, Infrastructure and Education.
Headquartered in Ahmedabad, Gujarat, Nandan Denim has expanded its capacity from 6 MMPA to a capacity of 110 MMPA (estimated in FY 2017) over the period of last 10 years – a 15 fold growth in denim capacity in last one decade. On completing the expansion Nandan Denim Ltd will become Asia’s biggest denim fabric maker. Company exports denim fabric to over 27 countries across the globe and is a supplier to major brands such as GAP, Polo, Calvin Klein, Tommy Hilfiger, Armani, Ralph Lauren etc.