05 April 2022, Mumbai:
Apparel manufacturer Gokaldas Exports aims to diversify its customer base to offset rising fabric prices due to an increase in cotton prices.
According to Sivaramkrishnan Ganapathi, Managing Director says, fabric prices have increased by15 percent as compared to last year. The company passes 50 percent of the cost inflation to its customers, he adds.
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The company has mutually arranged a tripartite between its customers, fabric suppliers, and itself. It passes through about 50 percent of the fabric price rise but the remaining 50 percent continues to impact margins due to a rise in cotton prices, Ganapathi adds.
The company also foresees a slowdown in the European economy resulting in higher gas prices, oil prices, etc.
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This may lead to a softening in demand, he adds. A listed public company was incorporated on 01 March 2004. Gokaldas Exports is a public limited company located in Bengaluru, Karnataka. The company manufactures and sells a range of garments including jackets, shirts, suits, etc.
Gokaldas Exports’ operating revenues range is over Rs 500 crore for the financial year ending on March 31, 2021.
Its EBITDA has increased by 49.21 percent over the previous year.
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