The Board of Gokaldas Exports has announced setting up of a Wholly Owned Subsidiary in Meydan Free Zone (MFZ), Dubai, UAE, for its apparel and garment business.
Mr. Sivaramakrishnan Ganapathi, Vice Chairman and Managing Director, Gokaldas Exports, said: “We view the long-term macroeconomic factors are favourable for the growth of the business. With this in mind, we are progressing well with our capex plan. The unit in Madhya Pradesh is expected to commence commercial production in Q1 FY2024 and our knits project in Tamil Nadu too is progressing well, setting the stage for a strong future.
Incorporated in 1979, Gokaldas Exports Limited is one of the leading apparel manufacturers and exporters in India. The company deals in a broad range of apparel products that include outerwear, activewear and fashion wear for all weather and seasons.
Present across all continents and within a delivery network of 50+ countries, Gokaldas Exports exports to some of the most prominent fashion brands and retailers across the globe. The company has worked tirelessly and relentlessly to make a mark for itself, and its years of excellence in service and quality delivery has enabled it to become a leader in its industry. In FY 2022, the company crossed a milestone of Rs. 1800 crores in consolidated revenues.
What sets Gokaldas Exports apart is its world-class manufacturing facilities which are supplemented by its integrated ancillary units that provide value added services such as laundry, embroidery, printing, quilting, and poly wadding among others. The company’s manufacturing prowess is heightened by certifications across all its units, for superior environmental and social/labour compliance. Gokaldas Exports is easily one of the largest organised apparel manufacturers in the country, with a total manufacturing capacity of 36 million apparel pieces per annum. Moreover, being a labour- intensive business, Gokaldas Exports is proud to have a workforce of 32,000 people, of whom a vast majority are women.
“We commissioned three new units in Karnataka and Tamil Nadu during the year, which are ramping up well and initiated project work on a new factory in Madhya Pradesh. We are in the process of setting up an apparel manufacturing unit in Madhya Pradesh, a fabric processing unit in Tamil Nadu and working on entering Bangladesh for apparel manufacturing. We incurred a capital expenditure of Rs. 84 crores this year and plan to invest Rs. 280 crores over the next few years to sustain our growth”. Gokaldas Exports is always geared to upgrade itself to fulfill the myriad needs of its customers. In the past the company has invested heavily in strengthening its internal processes and systems as well as its manufacturing capabilities.
“We ramped up production capacity in our existing facilities, upgraded our machinery for productivity and ensured optimal utilisation of capacity while relentlessly focusing on product quality and customer service, emerging as an indispensable part of the global value chain for our key customers”, added Mr. Sivaramakrishnan Ganapathi.