7th September 2021, Mumbai:
Gokaldas Exports, India's largest clothing exporter, has announced the start of commercial production at its new plant in Tumkur, Karnataka. Once completely scaled up and productivity is attained, this unit will add roughly 4.5 percent to the present capacity.
The firm has 19 facilities with a total of about 13,000 machines.
According to a report from ICICI Securities, the firm is now at peak utilization, with a strong order book for the next six months. To meet the high demand, it has set aside Rs. 120 crore in capital expenditures over the next two years, with the potential to produce Rs. 450 crore in additional income.
In accordance with these trends, the firm expects significant revenue growth in FY2021-22, according to the annual report. The firm has a robust order book and is expanding capacity in the short term to fulfill demand and clear production backlogs beginning in the first quarter of FY2021-22.
It's worth noting that the top Indian clothing exporter, located in Bengaluru, is also planning to invest in Madhya Pradesh (MP). In the Bhopal hamlet of Acharpura, the firm will invest in two phases. Around 4,000 people will be employed as a result of the project.
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