Dollar Industries Ltd, a leading player in the innerwear industry, aims for a 50% sales growth in the southern states in FY25.
The company aims for robust 11-12% year-on-year growth and targets a 50% sales increase in South India this year. Currently, Dollar Industries holds a 15% market share in India’s branded hosiery segment.
As a major step, the company has signed Telugu superstar Mahesh Babu as their brand ambassador for the region.
The company, which was founded in 1972 by Din Dayal Gupta as Bhawani Textiles, has strong sales growth in the Southern markets, currently at around 8% of its domestic sales.
"With Mahesh Babu now being our Brand Ambassador for the southern market, it will act as a catalyst to boost our brand prominence and sales even more. We are extremely bullish and targeting to garner around 20% of our domestic revenue from the South market”, Vinod Kumar Gupta, Managing Director, Dollar Industries, said.
Dollar Industries is also planning to open 50 exclusive brand outlets in South India over the next three years.
The company’s manufacturing units are located in Kolkata, Ludhiana, Tirupur, and Delhi.
Aiming for ₹2,000 crore in revenue by FY26, Dollar Industries has increased the capacity of their Tirupur spinning unit from 22,000 to 42,000 spindles. This expansion will soon boost production.
Tirupur is key for the company's hosiery production. The company has strong dealer support in the South and launched Project Lakshya in Karnataka in 2019 to grow sales, with plans to expand it nationwide, Gupta added.
In FY24, Dollar Industries saw a 22.6% increase in gross profit to ₹50,588 lakh and a 61.5% surge in EBITDA to ₹15,864 lakh. Its profit after tax (PAT) grew by 71.7% to ₹9,020 lakh with a PAT margin of 5.7%.
Dollar Industries’ growth is driven by new designs and quality products, brand loyalty, and innovative technologies. Committed to eco-friendly production, the company uses a zero-discharge technique and plans to expand their solar power plant from 4MW to 6MW.
Shares of Dollar Industries were trading 1.16% higher at ₹567.4% on the BSE around 11:31 am.
Also Read: ₹240 dividend distributor shares close to a record high after strong parent earnings
The company aims for robust 11-12% year-on-year growth and targets a 50% sales increase in South India this year. Currently, Dollar Industries holds a 15% market share in India’s branded hosiery segment.
As a major step, the company has signed Telugu superstar Mahesh Babu as their brand ambassador for the region.
The company, which was founded in 1972 by Din Dayal Gupta as Bhawani Textiles, has strong sales growth in the Southern markets, currently at around 8% of its domestic sales.
"With Mahesh Babu now being our Brand Ambassador for the southern market, it will act as a catalyst to boost our brand prominence and sales even more. We are extremely bullish and targeting to garner around 20% of our domestic revenue from the South market”, Vinod Kumar Gupta, Managing Director, Dollar Industries, said.
Dollar Industries is also planning to open 50 exclusive brand outlets in South India over the next three years.
The company’s manufacturing units are located in Kolkata, Ludhiana, Tirupur, and Delhi.
Aiming for ₹2,000 crore in revenue by FY26, Dollar Industries has increased the capacity of their Tirupur spinning unit from 22,000 to 42,000 spindles. This expansion will soon boost production.
Tirupur is key for the company's hosiery production. The company has strong dealer support in the South and launched Project Lakshya in Karnataka in 2019 to grow sales, with plans to expand it nationwide, Gupta added.
In FY24, Dollar Industries saw a 22.6% increase in gross profit to ₹50,588 lakh and a 61.5% surge in EBITDA to ₹15,864 lakh. Its profit after tax (PAT) grew by 71.7% to ₹9,020 lakh with a PAT margin of 5.7%.
Dollar Industries’ growth is driven by new designs and quality products, brand loyalty, and innovative technologies. Committed to eco-friendly production, the company uses a zero-discharge technique and plans to expand their solar power plant from 4MW to 6MW.
Shares of Dollar Industries were trading 1.16% higher at ₹567.4% on the BSE around 11:31 am.
Also Read: ₹240 dividend distributor shares close to a record high after strong parent earnings
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
