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Alok to double polyester yarn output
02 Apr '10
2 min read
Alok Industries Ltd, the Rs 29.66 billion turnover (2008-09) and vertically integrated textiles to retailing enterprise is planning to double its polyester yarn production capacity. This will be done by utilizing funds, raised from the recently concluded 'Qualified Institutional Placement' (QIP), the production of which would begin in a phased manner from October 2010.
Revealing details to Fibre2fashion, Mr Sunil Khandelwal, Chief Financial Officer of Alok Industries said, “The Company raised Rs 4.24 billion through QIP and the said amount would be used to meet capital expenditure of Rs. 3.00 billion and Rs 1.24 billion towards meeting long term working capital requirements”.
The Rs 3.00 billion would be spent towards setting up a new polymerization plant, which will help double output of polyester yarn. From a current store count of 170, Alok also intends to add nearly 200 stores each year, in the next 2-3 years, to its retailing business, this encompasses categories like mens wear, womens wear, kids wear, home textiles and accessories.
Alok was established in 1986 as a private limited company and became a public limited company in 1993. Its first polyester texturising plant was set up in 1989. Over the years, Alok has expanded into weaving, knitting, processing, home textiles and garments. To ensure quality and cost efficiencies, it has also integrated backward into cotton spinning and manufacturing partially oriented yarn through the continuous polymerisation route.
Alok has now evolved into a diversified manufacturer of world-class home textiles, garments, apparel fabrics and polyester yarns, selling directly to manufacturers, exporters, importers, retailers and to some of the world's top brands. It also has ventured in to the organized retail trade, under the name of 'H&A' and has also taken over a UK based retailer and renamed it Grabal Alok UK.
Revealing details to Fibre2fashion, Mr Sunil Khandelwal, Chief Financial Officer of Alok Industries said, “The Company raised Rs 4.24 billion through QIP and the said amount would be used to meet capital expenditure of Rs. 3.00 billion and Rs 1.24 billion towards meeting long term working capital requirements”.
The Rs 3.00 billion would be spent towards setting up a new polymerization plant, which will help double output of polyester yarn. From a current store count of 170, Alok also intends to add nearly 200 stores each year, in the next 2-3 years, to its retailing business, this encompasses categories like mens wear, womens wear, kids wear, home textiles and accessories.
Alok was established in 1986 as a private limited company and became a public limited company in 1993. Its first polyester texturising plant was set up in 1989. Over the years, Alok has expanded into weaving, knitting, processing, home textiles and garments. To ensure quality and cost efficiencies, it has also integrated backward into cotton spinning and manufacturing partially oriented yarn through the continuous polymerisation route.
Alok has now evolved into a diversified manufacturer of world-class home textiles, garments, apparel fabrics and polyester yarns, selling directly to manufacturers, exporters, importers, retailers and to some of the world's top brands. It also has ventured in to the organized retail trade, under the name of 'H&A' and has also taken over a UK based retailer and renamed it Grabal Alok UK.
Fibre2fashion News Desk - India
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