Home textiles maker Indo Count expects 15-20% sales growth

On the back of capacity expansion and enlarging domestic business, Indian home textiles producer and exporter, Indo Count Industries Ltd (ICIL) has forecast a 15-20 per cent growth in fiscal 2017. This includes returns from investments in capacity expansion to establish a high-end brand in the domestic market. It clocked Rs 2,213 crore sales in fiscal 2016.

Indo Count derives 90 per cent of its revenues from exports and ships to countries like Australia, South Africa, etc, also plans to expand and strengthen its export markets.

"We have also invested in capacity expansion to establish our brand – Boutique Living - in the domestic market. Following these developments we are expecting 15-20 per cent revenue growth in fiscal 2017," ICIL MD Mohit Jain told a news agency.

The company which clocked sales at Rs 2,213 crore in fiscal 2016, recently launched 'Boutique Living', a home textiles range in India which caters to the high-end and premium segment.

Indo Count, with three production units in Kolhapur in Maharashtra, is spending around Rs 475 crore in two phases on capacity expansion.