In a significant step towards expanding its footprint in the technical textiles and apparel sector, Sky Industries Limited has signed a Memorandum of Understanding (MoU) with the Government of Gujarat for a proposed investment of Rs. 49 Crore to establish a Technical Textiles & Apparels manufacturing unit in the state.
The MoU was signed on May 02, 2026, in Surat as part of the Investment Promotion activity under the Vibrant Gujarat Regional Conference initiative. According to the company’s regulatory filing, the agreement is intended to facilitate the establishment of the proposed manufacturing project, with the Government of Gujarat extending support in obtaining necessary approvals, permissions and registrations as per applicable state policies and regulations.
Strategic Expansion into Technical Textiles
The proposed project is expected to commence in 2026 and represents another strategic milestone in Sky Industries’ long-term growth and diversification plans within the high-performance textile segment.
Established in 1989, Sky Industries Limited has emerged as one of India’s leading manufacturers of Hook and Loop Tape Fasteners and engineered fastening solutions. Over the past three decades, the company has built a strong reputation for delivering innovative, durable and customized fastening products catering to a wide range of industries including orthopaedics, automotive, footwear, garments, packaging, sportswear, home furnishings, aviation and defence.
The company’s portfolio includes hook and loop tapes and their variants, self-adhesive hook and loop tapes, webbings, neoprene, velvet and functional elastics, serving both domestic and global markets. Sky Industries exports its products to several international destinations including the USA, Canada, UK, Germany, Italy and Sri Lanka, among others.
Strengthening Presence in Specialized Fabric Solutions
As part of its growth strategy, the company has also strengthened its position in specialized fabric solutions through its subsidiary, Skytech Textiles Private Limited. The subsidiary focuses on advanced neoprene-based materials used in applications such as equestrian gear, swimwear, medical and orthopaedic products, thereby expanding Sky’s presence in high-performance textile solutions.
Sky Industries has consistently focused on innovation, quality and sustainability as core pillars of its operations. The company continues to invest significantly in research and development to create advanced fastening and textile solutions aligned with evolving market demands and global sustainability goals. Its manufacturing practices increasingly emphasize eco-friendly materials and greener production processes.
Global Partnerships and Expanding Market Reach
Further strengthening its technological and market capabilities, Sky Industries also represents Aplix Inc. as its official marketing partner in India. Aplix is globally recognized for its innovative fastening systems catering to sectors such as automotive, aerospace, hygiene and packaging. This collaboration enhances Sky’s ability to offer advanced and customer-centric fastening solutions to the Indian market.
The company has expanded its export operations to over 10 countries and currently serves more than 800 domestic customers along with over 20 export clients, reinforcing its growing presence in global markets.
Strong Financial Performance and Future Outlook
During FY 2024-25, Sky Industries reported revenues of Rs. 85.49 Crore compared to Rs. 83.16 Crore in the previous year. EBITDA improved to Rs. 10.66 Crore from Rs. 8.98 Crore, reflecting improved operational efficiencies and stronger business performance.
Looking ahead, the proposed Gujarat investment is expected to further strengthen Sky Industries’ manufacturing capabilities and reinforce its position in the rapidly growing technical textiles and apparel sector. With increasing global demand for high-performance, sustainable and application-specific textile solutions, the company aims to leverage advanced technologies, sustainable manufacturing practices and strategic expansion initiatives to drive long-term growth and enhance its presence in both domestic and international markets.