Dollar Industries to start exports to Africa

Hosiery manufacturer Dollar Industries would start exporting its products to West and East African countries from this financial year through its office based in Dubai, an official of the company said.
"We are the number one hosiery garments exporter from India to the Gulf countries. Now we will start exporting our products to the East and West African countries," MD of Dollar Industries Vinod Gupta said.
The exports would be made from the company's office in Dubai, he said adding that the turnover from exports was Rs 60 crore.
With an annual turnover of Rs 730 crore last fiscal and a profit after tax (PAT) of Rs 20 crore, the company now plans to set up another manufacturing unit at a cost of Rs 25 crore in Ludhiana for manufacturing outerwears like T-shirts and loungers, he told reporters here today.

Gupta said Dollar would enter the premium innerwear segment to compete with brands like Jockey, Heinz and Calvin Klein with its brand 'Force NXT'.
In the current fiscal, the company is targeting a revenue of Rs 850 crore. Dollar presently has integrated manufacturing facilities at Kolkata, Tirupur (TN), Delhi and Ludhiana.
Already on the Calcutta Stock Exchange, the company would soon be listed on the BSE, Gupta said.