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Dollar Industries aims Rs 2000 crore topline, capex at Rs 120 crore by FY25

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Leading hosiery company Dollar Industries Ltd said it expects to become a Rs 2000 crore company by 2024-25 and will invest Rs 120 crore by the same year to double its spinning capacity. Unveiling its Vision 2025 and a logo on completing 50 years, the company said its fourth-quarter profit ended March 2022 rose 10% to Rs 37 crore from total revenue of Rs 376 crore, a rise of 21 % over the corresponding period last year.

Dollar Industries began its journey in 1972 as Bhawani Textiles. Now it holds a 15% market share of the branded hosiery segment in India. As a part of its Vision 2025, Dollar has earmarked Rs 120 crore for expansion and new launches, company founder and chairman emeritus, Din Dayal Gupta, said. Dollar would set up one more spinning mill at Dindugul in Tamil Nadu and start a new world-class warehousing facility cum hosiery park at Jagdishpur in West Bengal, he said.

As a part of the company’s green mission initiative, the capacity of its existing 4 MW solar power plant will be increased by 2MW. A plot of land has been purchased in Tirupur where the knitting unit will be expanded, Gupta said.

The success in our newly launched Athleisure range justifies our goals. We expect similar success with our soon to be launched women’s lingerie range under Dollar Woman. The goal now is to be a Rs 2000 crore company by FY 2024-25, managing director Vinod Kumar Gupta said. Dollar Industries Limited is now looking to expand its market into African countries besides being successful in the Middle East, he said.

The company is planning to open 125 exclusive brand outlets, mostly in tier 2 and tier 3 cities by 2025 to strengthen its retail footprint.

(PTI)