Gokuldas H1 revenues up 15%

BS 200 SCORECARD

Gokuldas Exports total revenues during the current H1 touched Rs 427.44 crore, achieving a 15.09 per cent growth over its corresponding revenues in H1 of last fiscal.

Profit after tax increased to Rs 30.12 crore, recording a 22 per cent increase over its corresponding figures in H1 of last fiscal. This being the first year of listing, the figures for the corresponding quarter of the previous year are not available.

"The company is witnessing a tremendous growth in business since the removal of quota restrictions. Our export revenues during the second quarter stood at Rs 238 crore compared with Rs 174 crore in Q1," said Rajendra J Hinduja, executive director - finance.

North America and Europe continue to be the dominant markets for the company. It has added several new customers during the quarter and also expanded the product portfolio.

"Business outlook continues to be positive with a healthy order book position and expected growth of 15 per cent to 20 per cent in sales for the full year as compared to the previous year,'' Hinduja added.

Post quota dismantling, the company has professed in catering to most of sensitive quota categories like bottoms and knitwear, which were constrained during the quota regime.

Further, it has partly deployed the IPO proceeds in setting up of new units and modernisation and expansion of existing units. The factory at Doddaballapur, near Bangalore, was commissioned in Q1. Construction work at the Madras SEZ unit has also started.

The company's exports last year totalled Rs 708.34 crore out of the total revenues of Rs 724.05 crores. It continues to enjoy tax exemption on 100 per cent EOU units till FY09.