Sky Industries Limited has unveiled plans to invest Rs. 49 crore (approximately US $5.15 million) in setting up a new technical textiles and apparel manufacturing facility in Gujarat.
The announcement follows the signing of a Memorandum of Understanding (MoU) with the state government on May 2, 2026. The proposed unit will focus on the production of technical textiles and apparel, aligning with the company’s strategy to expand into high-value, specialised textile segments. As part of the agreement, the Gujarat government will support the project by facilitating necessary approvals and regulatory clearances.
The MoU is described as a facilitation agreement rather than a legally binding commercial contract, meaning the project will proceed subject to further negotiations and the execution of final agreements.
Established in 1989, Sky Industries is known for manufacturing hook-and-loop tape fasteners and narrow fabrics. In line with its expansion plans, the company set up Skytech Textiles Private Limited in 2025 as a wholly owned subsidiary to focus on neoprene fabric manufacturing.
With this investment, Sky Industries will be entering a competitive space that includes established players such as Garware Technical Fibres, Banswara Syntex, Arvind Limited, and Century Enka, which operate across specialised segments like geosynthetics, fire-resistant fabrics, and industrial yarns.
Financially, the company reported revenue of Rs. 85.5 crore (around US $9 million) for the financial year ending March 31, 2025. In its latest quarterly performance, Sky Industries posted revenue of Rs. 21.40 crore (approximately US $2.25 million) for the third quarter of FY 2025–26, marking a year-on-year growth of 4.44%.
The planned Gujarat facility is expected to enhance the company’s footprint in the growing technical textiles sector, which is witnessing increasing demand across industrial, infrastructure, and specialised applications.