Dollar Industries posts Rs 906 crore turnover in FY17

Hosiery and knitwear company, Dollar Industries Limited recorded a turnover of Rs. 906 crore for the FY 2016-17 as against Rs. 830 crore during FY 2015-16, recording a revenue growth of 9.15 per cent.

The company posted Rs 282 crore revenue for Q4’17 as against Rs 229 for Q4’16, a growth of 23.24% from the previous corresponding period.

The company has increased the reach across MBOs from 30,000 in FY 2010-11 to more than 80,000 in FY 2016-17. It is ready to diversify its product range and will soon introduce more variants in sleep wear, lounge wear, active wear and sportswear.

To boost its growth further, the company is eyeing 50 EBOs by the end of 2020 across major cities in India which would be operated by a franchise model.

Vinod Gupta, Managing Director, Dollar Industries Limited, said, "The company is going to be asset light. Moreover, we would be increasing our presence across India with special emphasis on consolidating the existing market. Our new diversifications in terms of products will see a nationwide rollout. We have received encouraging responses in the online platform both in terms of visibility and e-commerce. We will push the e-commerce sales up to the maximum percentage in our total turnover. Moreover ‘super premium category’ will be the prime focus for Dollar Industries Ltd in the coming days."

Gupta added, "FY 2016-17 was the most challenging year for the hosiery industry due to demonetization followed by escalating cotton prices across the world.  But we have been able to record a higher growth in operating profit than the industry standards. It has been a satisfying year for us at Dollar Industries with the brand making inroads in newer territories and also consolidating its position in the existing hosiery markets in India and abroad. We are committed to maintain the topline growth of the company 15-20 per cent YoY.  We are making efforts to improve EBITDA and PAT margins and aiming to achieve 15 per cent EBITA in next three years. We have achieved market penetration of 88 per cent across India which is a result of the team’s aggressive marketing and advertising strategy backed by superior product range, technology upgradation and capacity expansion."