Dollar Industries Ltd Records a Steady Growth in Turnover in 2015-16

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Chennai, Tamil Nadu, India

Turnover stands at Rs 829.94 Cr.
PAT grows by 35.48%
Exports witness a 13% growth
Targets a turnover of Rs 1000 Cr. for FY 2016 – 17
Factories across Kolkata, Tirupur, Delhi And Ludhiana produces 5 lakh pieces per day
To give Special Emphasis on South Indian Market

Hosiery major, Dollar Industries Limited registered a turnover of Rs 829.94 cr. for FY 2015-16 as against Rs 736.56 cr. during the corresponding period of FY 2014-15, as per the audited financial result. Profit After Tax (PAT) grew by 35.48% to Rs 26.35 cr. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) also witnessed a growth of 18.62%. The export revenue of the Company stood at Rs.69.35 Cr., thus witnessing a 13% growth.

One of the main reasons for Dollar Industries’ buoyant growth in the last six years is its mega star Brand Ambassador, Mr. Akshay Kumar. The Company, today, wholeheartedly acknowledged his contributions in making Dollar a household name across the country.

“It has been an overwhelming & satisfying journey for Dollar Industries with the brand making inroads in the hosiery segment, also consolidating its position in India and abroad. Our values of openness, collaboration, mutual dependency, professional delivery, sustainable profitable growth and innovation are the standards by which we have been judged and will be judged in the days to come. Ever since we have signed Mr. Akshay Kumar in 2010 as the Brand Ambassador of Dollar Bigboss, the growth has been exemplary. We have more than doubled our turnover in these six years, from Rs 396 cr. to Rs. 829.94 cr. He is our brand’s lucky mascot,” said Mr. Vinod Kumar Gupta, Managing Director, Dollar Industries Limited.

“It is a pleasure indeed to share an association with one of the hosiery majors, Dollar Industries, as their Brand Ambassador for six exciting and encouraging years. I feel great content at the thought that I could be a support to the Dollar team in making the brand larger than life. We all prefer comfort wear on our day-to-day schedule. Dollar Bigboss is the perfect comfort wear that we need. I have thoroughly enjoyed my tenure with this Company during shoots and beyond,” said Mr. Akshay Kumar, Brand Ambassador, Dollar Bigboss.

As a part of “Make in India” initiative of the Government of India, our industry and our Company are providing employment opportunities to hundreds of people in our factories and offices. With consistent growth, there comes the increased responsibility of sustaining the growth. This holds not just for the Company but for the growth of country too. So Dollar goes to great lengths to provide its people with the requisite training they need to realize their fullest potential, thus taking an initiative towards “Skill India” movement.

“We are targeting a turnover of Rs 1000 cr. in the current fiscal and have an aggressive sales and marketing plan to achieve it. We would be increasing our presence across India with special emphasis on South India. Our new diversifications in terms of products will see a nationwide rollout. We have received encouraging responses over internet both in visibility and e-commerce. We shall push the e-commerce sales up to the maximum percentage in our total turnover,” added Mr. Gupta.

Dollar has its own spinning mill to make fabric yarn from raw cotton with a world class zero discharge dyeing facility. The mill generates its own electricity helping in earning Carbon Credits. By using the latest combing and drafting of Sliver with the help of Rieter Technology, Dollar ensures an improvement not only in staple length, but also the fineness of the raw material. Dollar Industries has introduced the latest blow room/carding Facilities of German global leaders Trutzschler. The Company manufactures 350 tonnes of quality yarn a month, consisting of 100% cotton.

The dyeing facility of Dollar in Perundurai sets the example of an eco-friendly manufacturing facility for industries to follow. The water generated from the factory is treated chemically and biologically at its effluent treatment Plant which has a capacity of 1000 KL Zero Liquid Discharge. The bulk of the treated water is reused in the factory while the remainder goes to watering plants and landscaping the area. Any sludge is disposed of at a Government appointed disposal site. The Company’s windmills are based in Parameshwarapuram, Sundankuruchi, Amuthapuram and Angalakurichi in Tamil Nadu which help in saving approximately Rs.2 cr. of the power bill annually.

Dollar has invested heavily in its manufacturing facilities by creating a purpose-built, state-of-the-art HQ and factories in Kolkata, Tirupur, Delhi and Ludhiana, which have daily production capacity of 5 lakh pieces. The facilities can manufacture products for men, women and children in all segments of knitwear – innerwear, lounge wear and thermals.

Dollar, as the leading knitwear Company in India, has a presence across countries like Nepal, Middle East and the Gulf. Dollar has always been known for its value-for-money products that target all the segments of the society. It has evolved as an umbrella brand by launching an array of successful sub-brands like Dollar Bigboss Premium Innerwear, Dollar Club, Myme, Hutch, Midas, Comfort, Interlock, Missy, Kidscare, Force Go Wear, Ultra Thermals, Wintercare, Force NXT and many more.

About Dollar Industries

Dollar Industries Ltd, is today amongst the top three hosiery brands in India. The Company has four manufacturing units in Kolkata, Tirupur (TN), Delhi and Ludhiana. Dollar Industries enjoys a 15% market share in the branded hosiery segment in India. Dollar Industries has recently started business in African market with Nigeria to enhance export revenue. The Company’s existing export markets are in the Gulf, Middle East and Nepal.