Gokaldas Exports continues to strengthen its position in the global apparel industry, achieving consolidated revenue of Rs. 2,409 crores in FY24, up from Rs. 2,247 crores the previous year. The company’s recent investments and strategic acquisitions underscore its commitment to growth and diversification, aiming to enhance its production capabilities and market reach.
Gokaldas Exports has commissioned Phase I of a new sewing factory in Bhopal, Madhya Pradesh, capable of manufacturing 3 million pieces annually. Phase II, which will double this capacity, is expected to be completed in the next calendar year. Additionally, the company is diversifying into knits processing with a new facility in Perundurai, Tamil Nadu, currently under commissioning.
Strategic Acquisitions
In a move to consolidate its market position and expand its product offerings, Gokaldas acquired Atraco and Matrix Clothing Private Limited (MCPL) for a combined investment of Rs. 934 crores. These acquisitions provide access to high-value knitwear, new customer bases, and low-cost production locations.
Mr. Sivaramakrishnan Ganapathi, Vice Chairman and Managing Director of Gokaldas Exports, emphasized the strategic benefits of the acquisitions, stating, “The recent acquisitions will provide a solid foundation for margin growth. Atraco and Matrix complement our existing business and enhance productivity through geographic diversification, new customer access, and strategic positioning.”
Established in 1979, Gokaldas Exports has grown into a one-stop solution for some of the world’s most recognized apparel brands. With an annual turnover of USD 290 million in FY24, the company is one of India’s largest apparel manufacturers and exporters, supplying products to over 50 countries.
Post-acquisition, Gokaldas Exports now operates over 30 production units with more than 30,000 advanced machines, capable of producing about 87 million garments annually. The company employs over 51,000 people, working towards the vision of being a globally reputed apparel manufacturer with a focus on innovation and sustainability.
Acquisition Insights
Gokaldas acquired Matrix Clothing for ₹489 crores, gaining access to high-quality knitwear apparel production for major brands in Europe, the UK, and North America. Matrix operates five manufacturing facilities and provides geographical diversification and low-cost expansion potential.
Atraco, a leading apparel manufacturer founded in 1986, brings strong market positions and customer relationships in the U.S. and Europe. Headquartered in Dubai, Atraco operates four manufacturing units in Kenya and one in Ethiopia, producing about 40 million garments annually.
Future Outlook
Mr. Ganapathi highlighted that favorable currency conditions, the Production Linked Incentive (PLI) scheme, and Free Trade Agreements (FTAs) with key markets are expected to drive the company’s future growth. The company’s strategic investments and acquisitions position it well to capitalize on these opportunities.
Gokaldas Exports’ strategic expansions and acquisitions have positioned the company for robust growth and enhanced market presence. With a focus on increasing production capacity, diversifying product offerings, and leveraging favorable market conditions, Gokaldas Exports is set to continue its trajectory as a leading global apparel manufacturer. As the company moves forward, it remains committed to innovation, sustainability, and excellence in meeting the evolving needs of its global clientele.
