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Readymade garments maker to set up three new production units
30 Jan '07
2 min read
Gokaldas Exports, India's largest manufacturer of readymade fashion garments, will set up a new factory for bottoms at Tumkut, near Bangalore, to be operational by April 2007. With the commissioning of its other under-construction units, the company will see its annual capacity for FY07-08 go up to 30 million, from the current 24 million pieces.
New units at Mysore and Hyderabad are under construction and will be functioning in the next financial year. Four new units were commissioned in the last quarter: the SEZ unit at Chennai; and units in Bangalore at Yelahanka, Yeshwanthpur and Magadi Road.
With the likely retail boom in India, the company has also started a Domestic Supply Division, catering to various big retailers who are expected to enter the garment retail segment, like Wal-Mart/ Bharti, Reliance Retail, the Future Group, the Aditya Birla Group, Metro Group and others.
“With the new manufacturing units expected to come on-stream in FY 08 and the retail segment in the country looking bright, we have great hopes for the company's margins. We are also negotiating a joint venture with an overseas apparel company, in order to produce a new apparel product to add to our portfolio,” said Mr. Rajendra Hinduja, Director, Gokaldas Exports.
The company has declared excellent results for the third quarter ended December 31, 2006. Total revenue climbed 14.69% year on year to stand at Rs 245.83 crores, as against Rs 214.35 crores for the same quarter last year.
Profit After Tax (PAT) was also up 13.42% YoY at Rs 17.83 crores from Rs 15.72 crores last year. The EBITDA margin stands at 12.29% as against 10.06% last year, indicating an increase of 22.17%. The company has increased its overall headcount to 52,100 people.
New units at Mysore and Hyderabad are under construction and will be functioning in the next financial year. Four new units were commissioned in the last quarter: the SEZ unit at Chennai; and units in Bangalore at Yelahanka, Yeshwanthpur and Magadi Road.
With the likely retail boom in India, the company has also started a Domestic Supply Division, catering to various big retailers who are expected to enter the garment retail segment, like Wal-Mart/ Bharti, Reliance Retail, the Future Group, the Aditya Birla Group, Metro Group and others.
“With the new manufacturing units expected to come on-stream in FY 08 and the retail segment in the country looking bright, we have great hopes for the company's margins. We are also negotiating a joint venture with an overseas apparel company, in order to produce a new apparel product to add to our portfolio,” said Mr. Rajendra Hinduja, Director, Gokaldas Exports.
The company has declared excellent results for the third quarter ended December 31, 2006. Total revenue climbed 14.69% year on year to stand at Rs 245.83 crores, as against Rs 214.35 crores for the same quarter last year.
Profit After Tax (PAT) was also up 13.42% YoY at Rs 17.83 crores from Rs 15.72 crores last year. The EBITDA margin stands at 12.29% as against 10.06% last year, indicating an increase of 22.17%. The company has increased its overall headcount to 52,100 people.
Gokaldas Exports Ltd
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