The major Indian textile company named the Alok Industries has recently announced that it is targeting to achieve an export revenue of Rs. 1,100 crore in this financial year. The company is having a total market capitalization of Rs. 1,824 crore and a senior manager of the company has informed that it is also eying to get a revenue of Rs 1,500 crore in the FY09. The sources from the company have stated that Alok Industries has already achieved an export turnover of Rs. 604.4 crore out of its total turnover of Rs 1,434.4 crore in the first nine months of this fiscal. This accounts for a rise of 66.2 per cent on a year-on-year (y-o-y) basis.
However, the officials of the company denied to say anything about the weakening demand of its products from its key market in US and also about the companys potential impact on achieving its exports target over the next few quarters. The sources from the industry have informed that the company has shown a strong growth in its export turnover in the first nine months of FY08, in spite of a 11-12 per cent y-o-y appreciation of the rupee.
While talking about this achievement of the company, the Managing Director of Alok Industries, Mr. Dilip Jiwrajka said, "We were able to withstand the impact of a strengthening rupee via expanding sales of higher value products across our product segment, that includes home furnishings, men and womens clothing". He added that the growth in the sales of the company in the European market was also derived from their earlier acquisition of the Czech-based Mileta. This acquisition provided the company with the manufacturing and marketing capabilities in the region.
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| Posted : 2/26/2008 |
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