Hosiery manufacturer Dollar Industries is looking to garner Rs 1,000 crore revenue in 2016-17 besides foraying into new overseas markets and children's wear segment, a top official said today.
"Our mission for the current fiscal... We are eyeing turnover of Rs 1,000 crore and increasing our presence across India with special emphasis on Southern India," Dollar Industries Ltd's Joint Managing Director Binay Kumar Gupta told reporters here.
The Kolkata-based company had registered total revenues of Rs 829.94 crore in the last fiscal and has doubled its revenues in the last six years, he said.
"In 2014-15, our revenue was Rs 730 crore. We have 15 per cent market share in the organised knitwear business. The organised knitwear industry in India is about Rs 10,000 crore," he said.
On expansion plans, Gupta said the company is looking at entering children's wear segment in the next two years.
"We are thinking of entering the children's wear business. We can do good chunk of business there," he said.
Besides tapping e-commerce platform for sale of products, the company would also set up 500 modern retail outlets across the country.
Dollar Industries owns four windmills in Kanyakumari district in Tamil Nadu and also plans to tap solar energy at Dindigul district, he said.
On the exports front, Gupta said it plans to enter new markets and has set a target of registering Rs 100 crore business from overseas operations in two years.
"We have an office in Dubai. Currently, we are the only Indian company to export to Nepal, Middle East and the Gulf countries. We are looking at entering into some newer markets like Africa, including Western African countries -- Nigeria, Ghana and Sudan.
"Our revenue from exports in 2014-15 was Rs 60 crore. It increased to Rs 69.35 crore in 2015-16. We are looking to register Rs 100 crore revenue from exports in two years," he said.
The company has four manufacturing facilities at New Delhi, Kolkata, Ludhiana and Tiruppur, with average production of five lakh units of men's garments per day, he said.
