Published
Dec 26, 2017
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Dollar Industries to invest Rs 200 crore on acquisitions

Published
Dec 26, 2017

Textile and hosiery firm Dollar Industries Limited will invest around Rs 200 crore (approx $31.3 million) to strengthen its position in the north and west Indian markets by acquiring local players from the regions.
 

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The company is looking to acquire at least 6 small players in the hosiery and knitwear market to further consolidate and expand its network in India’s Rs 25000 crore (approx $4 billion) market. Currently, Dollar holds 15 percent market share in the branded hosiery segment in the country.
 
The funding for the acquisition of the smaller players will be done through internal accruals with Dollar industries hoping the acquisitions will give them a larger market share and also boost revenues.

Dollar Industries posted impressive results in the last quarter ended September 2017 reporting 31 percent rise in profits to Rs 15 crore (approx $2.3 million) with sales revenue of Rs 213 crore (approx $33.1). For the full-year, Dollar Industries is eyeing a turnover of Rs 1,030 crore (approx $161 million), up 14 per cent over last year.
 
“We are in preliminary talks with four-five regional brands and unorganised players. We could pick up stake in these companies and scale up our holding later too,” Gupta was quoted as saying by BusinessLine.
 
Dollar Industries Ltd is one of India’s leading players in the innerwear segment with 850 distributers and 80000 multi brand outlets offering products in innerwear, sleepwear, lounge wear, active wear and sportswear.

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