BSL to focus on exports for growth, expand retail presence in India

By

Maverick Martins

Published
Jan 2, 2020

Homegrown fabric maker BSL, formerly known as Bhilwara Synthetics Ltd, is banking on its exports, coupled with domestic expansion for growth in the Indian market.
 

The fabric market has been a major player in the export market, especially for suiting in West Asia, Latin America and Europe, among others.
 
The company is now looking to further strengthen its export network by entering new markets.

Currently, suiting exports account for 40 percent of BSL’s revenue, while domestic operations account for 20 percent. It had reported revenue of Rs 441 crore ($61.9 million), with a net profit of Rs 1 crore for the fiscal year 2019.
 
“When you have different profit segments, not all of them grow at the same pace. We focussed on the export verticals and are now looking at the domestic business for a balanced portfolio,” he told BusinessLine, adding that the company is also scouting for new overseas markets.

“A near two- to three-fold growth in turnover from India operations is possible over two years,” Nivedan Churiwal, joint managing director at BSL, told Businessline.
 
“BSL aims to be present in 6,000 multi-brand outlets over the next six years, a near four-fold growth against the current 1,500-odd outlets,” he added.

Apart from ‘BSL’, the company also sells premium fabrics under the ‘Geoffrey Hammonds’ brand.