Dollar Industries eyes Rs.1,000 cr revenue

The Dollar Business Bureau

Besides venturing into new markets and introducing a children’s wear segment, hosiery maker Dollar Industries is aiming for Rs.1,000 crore revenue in FY17.

The Kolkata-based company’s Joint Managing Director Binay Kumar Gupta, stated that the company is eyeing for whopping turnover of Rs.1,000 crore and is even planning to expand its presence in India with special focus towards south Indian customers.

In FY16, the company registered a total revenue of Rs.829.94 crore.

Indicating strong growth of the company, the total revenue generated by the company in FY15 was Rs.730 crore.

Gupta revealed that Dollar Industries has 15% share in the Rs.10,000 crore in the Indian organised knitwear industry. In the coming two years, Dollar is planning to introduce children’s wear.

Apart from tapping e-commerce platform, the company also has plans to set up 500 retail outlets across India.

Dollar Industries, owns four windmills in Kanyakumari, Tamil Nadu, has plans to enter solar energy industry via Dindigul district.

Gupta revealed that the company has plans to reach new markets and has a target to generate Rs.100 crore from overseas operations within two years.

Currently, the company is the sole Indian firm exporting organized knitwear to Middle East, Nepal and Gulf nations and is looking forward to enter African markets, including Ghana, Nigeria and Sudan of Western Africa.

The revenue of Dollar Industries from its FY15 exports stood at Rs. 60 crore which increased to Rs.69.35 crore in FY16.