GHCL’s Home Textiles business has been able to create a competitive advantage through its innovative product offerings which revolve around its four pillar strategy. The company hopes to continue with similar trends in the future with a single-minded mission to responsibly maximize value for all its stakeholders.
Commenting on the company’s performance during 2018-19, Mr. Manu Kapur, President and CEO – Home Textiles, GHCL Ltd., said: “GHCL’s Home Textiles business grew by 15% to Rs. 1,202 crores in FY19 as compared to Rs. 1,046 crores in FY18. We have been able to create a competitive advantage through our innovative product offerings which revolve around our four pillar strategy of sustainability, traceability, innovation and giving back to society”.
He added: “We launched REKOOP just over 12 months back. The response to REKOOP has been very encouraging. We have received an order from a leading retailer in the UK for a co-branded REKOOP product and are in advanced negotiations with a retailer in Canada for exclusive placement of REKOOP in the country. In addition, REKOOP was launched on amazon.com this World Earth Day (April 22)”.
GHCL invested in a 20% capacity expansion of its weaving and processing during FY18. Close to $11 million was spent towards installation of Airjet / Vortex spinning in FY18 and modernizing its spinning facilities in FY19. This year also the planned capex for the textile business is close to $11 million.
Asked about GHCL’s future plans for the textile business, Mr. Kapur said: “Our plan is to continue to focus on our four pillar strategy during this year and beyond. Our passion for sustainability will continue to drive our efforts on innovation. We are at a preliminary stage of developing some very interesting new products, which you will hear of soon.
GHCL manufacturing capacity:
- Spinning
* 1,85,712 Spindles
* 3320 Rotors
* 5760 TFO Drums
* 5 Air Jet Spinning Machine
- Weaving
* 12 mn Meters per annum
- Processing
* 45 Mn Meters per annum
- Finished product
* 30 Mn Meters per annum