Gokaldas consolidated revenues breach Rs 10 bn barrier
Myiris.com, India
Gokaldas Exports, India`s largest manufacturer of readymade fashion garments, became the first ever Indian apparel company to cross the Rs 10 billion revenue mark. The company`s consolidated revenues for the year ended Mar. 31, 2014 climbed 16.5% year on year to Rs 10,449.60 billion, from Rs 8,973.60 million last year.
Due to higher realization and greater cost reduction efforts, the consolidated profit after tax (PAT) for the year rose 15.7% to Rs 705.3 million from Rs 609.7 million last year.
Basic and diluted earnings per share (EPS) on a consolidated basis came to Rs 20.52 a share from Rs 17.91 a share last year.
“By the end of FY07, we are the first Indian apparel company to cross the Rs 10 billion mark decisively. This year has also seen the highest capacity expansion for us – up to Rs 1 billion of capex has been added. Our order book at the current quarter, Q1 FY08, is about Rs 2.50 billion,“ said Rajendra J Hinduja, executive director, finance, Gokaldas Exports.
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Gokaldas Exports has a capacity of 30 million garment pieces currently, after the capex.
The company commissioned five new plants during the year 2014-07 three in Bangalore, and one each at Tumkur and Mysore. Another factory at Hyderabad is under construction and will be ready in a few months. Two existing factories have also been expanded, and their capacity enhanced by 30%. The company added up to 11,000 new personnel taking the headcount to 54,000 people, from 43,000.
For the quarter ended March 31, 2014, PAT climbed 20.69% quarter on quarter, to Rs 181.5 million from Rs 150.3 million last quarter. Revenues were up 14.9% Q-o-Q, to Rs 2,766.9 million from Rs 2,408.7 million last quarter. The basic and diluted EPS was at Rs 5.28 a share, from Rs 4.38 a share.
Gokaldas Exports is India`s largest manufacturer of readymade fashion garments. Operating out of Bangalore for over thirty years, Gokaldas is also a major player in the readymade garment industry across the globe. With a workforce of over 54,000 spread across 46 factories, Gokaldas caters to the requirements of more than 100 famous labels in 39 countries. 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.
Shares of the company ended up Rs 1.30, or 0.66%, at Rs 198.80. The total volume of shares traded at the BSE was 43,481. (Thursday)
