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Home / India News / 2007 / May / May 24, 2007
Gokaldas First Indian Apparel Co To Cross Rs 1000 cr Revenue Mark

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Gokaldas First Indian Apparel Co To Cross Rs 1000 cr Revenue Mark

FY07 Revenues Up 16.5% YoY; PAT Up 15.7% YoY; Recommends 40% Dividend For Shareholders

MUMBAI: 24, May 24, 2007 - Gokaldas Exports, India's largest manufacturer of readymade fashion garments, has become the first ever Indian apparel company to cross the Rs 1000 crore revenue mark. The company's consolidated revenues for FY07 climbed 16.5% year on year to Rs 1044.96 crores, from Rs 897.36 crores last year.

Consolidated Profit After Tax (PAT) for the year rose 15.7% YoY, to Rs 70.53 crores from Rs 60.97 crores last year. The company has also recommended a 40% dividend or Rs 2 per equity share. Basic and Diluted Earnings Per Share (EPS) on a consolidated basis came to Rs 20.52 per share, from Rs 17.91 per share last year. The net profit increase can be attributed equally to higher realization and greater cost reduction efforts.

"By the end of FY07, we are the first Indian apparel company to cross the Rs 1000 crore mark decisively. This year has also seen the highest capacity expansion for us - up to Rs 100 crores of capex has been added. Our order book at the current quarter, Q1 FY08, is about Rs 250 crores, said Mr. Rajendra J. Hinduja, Executive Director, Finance, Gokaldas Exports Limited.

Gokaldas Exports has a capacity of 30 million garment pieces currently, after the capex. Five new plants were commissioned during FY07: 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%. Up to 11,000 personnel have been added, taking the headcount to 54,000 people, from 43,000.

For the quarter ended March 31, 2007, PAT climbed 20.69% quarter on quarter, to Rs 18.15 crores from Rs 15.03 crores last quarter. Revenues were up 14.9% QoQ, to Rs 276.69 crores from Rs 240.87 crores last quarter. Basic and Diluted EPS was at Rs 5.28 per share, from Rs 4.38 per share.

About Gokaldas Exports Ltd

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 highly skilled and experienced people, 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.

For further information please contact:
Rahul Mitra - Concept PR
93241 35068 (M)
022- 2207 6321 (O)

Source: Concept PR

Press release presented here is sourced from the Source mentioned above and is provided on as-is basis. Please contact the Company / Source directly for any further information in regard to this release. This website will be unable to assist you in regard to the accuracy or correctness of information in this release.

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