Being one of India’s leading family owned business houses, CLC Enterprises has carved a niche for itself not only as the largest textile hub but also in energy, power, steel, and software technology. The Group’s business comprises of manufacturing, trading and indenting of Fabrics, Yarns, Structural Steel, Ferro Alloys, generation of Hydro Power, developing Computer Software and providing Buying House Services to overseas customers. Spentex Industries Ltd (CLC’s flagship company) has emerged as one of the leading textile conglomerate of India. With its vision of "Going Beyond Tomorrow", it has shown consistent performance and innovation to become one of the largest yarn manufacturer in India. With envisioned leadership, the company is on a trajectory path of high growth through organic and inorganic routes. Mr Mukund Choudhary, Managing Director, is a Commerce Graduate with 13 years of business experience in the textile field. Mr Choudhary joined the family business in August 1992, after completing his graduation in Commerce from Delhi University. He started his career by working in marketing department of the Company before becoming the MD of one of the group companies, CLC & Sons Pvt Ltd in April 1997. CLC Global Ltd came into existence by de-merging the Textile Division of CLC & Sons Pvt Ltd in April 2001 and Mr Choudhary was made the MD of CLC Global Ltd. His focused vision and commitment has seen the group grow from strength to strength. Under his leadership CLC Global acquired Cimmco Spinners from S K Birla Group in October 2003. Further CLC Global also acquired Spentex Industries Ltd, a BIFR company from R P Goenka Group, and most recently Schoeller Textil, Czech Republic, Indo Rama Textiles Ltd, Tashkent Toytepa Tekstil Ltd –Uzbekistan Mr Choudhary is also the Executive Committee member for Northern India Textile Mills Association and an active spokesperson for the Textile industry as well. Speaking with Face2Face team, Mr Mukund Choudhary draws the larger picture of yarn market worldwide, and the bottlenecks faced by Indian textile players.
First of all, heartily congrats from entire Fibre2Fashion team for one more feather in the cap – Getting listed amongst India’s ‘Top Ten Fastest Climbers’. How has the journey on textile course been? Where do you see CLC Group positioned on textile front, today?
It seems M&A is mainstay of your business strategies. What is your say? Apart from that, which all core values make a perfect blend for CLC Group to ensure success in textile corporate world?
Our M&A strategy as mainstay of business growth is well known. The rapid changes in business landscape, the rising global opportunities and need to lead competition from the front have fuelled our endeavor for rapid growth through inorganic route. Although we have completed Brownfield projects at our units at Baramati and Solapur, but we are open to Greenfield projects also.
How has offshore acquisitions- Schoeller Textil, Czech Republic and merger of Indo Rama Textiles Ltd, bode for CLC Group?
Our experience with Schoeller and IRTL acquisition has been an exemplification of business prudence. Schoeller posses a strong European brand name with penetration in the niche market while IRTL facilitated our foray in synthetic and blended yarn business. Putting together, our competitiveness has increased manifold.
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.