Sister concerns, Lakshmi Fibres and Lakshmi Impex are ready to make a splash at the forthcoming Texfair 2024 trade fair, with their quality range of products.
Responding to a question on the performance of the two companies in FY 2023-24, K.S.Palanikumar, CEO, mentioned that while it was a challenging period for the entire textile industry, they were able to perform well.
“With respect to Lakshmi Fibres, it is a new born baby. I and Mr. David, who is having over 20 years of rich and varied experience in this field, are partners. Last year alone we did business worth close to about Rs.100 crores. We are representing multiple brands for polyester staple, recycled and toe cut fibres. There is huge potential. Last years’ experience, of doing well, even when the market conditions were not good, gives us confidence going forward to do a lot better,” he noted.
“With respect to Lakshmi Impex, which represents Neelkanth and Innospin, we were able to perform well and grow at a rate of 15%, compared to the previous financial year. Though the industry climate was dull, we were able to gain good orders from the replacement market, as well as bagged new orders,” he added.
According to Palanikumar, his years of experience in different functional areas such as service support and sales in the textile industry helped Lakshmi Impex overcome the difficult phase. “It is one thing to gain big projects and another to execute them well. Proper execution is one of our key strengths and that helped us do well.” he explained.
Lakshmi Fibres @ Texfair 2024
“At the Lakshmi Fibres stall, the company will be displaying actual samples of fibres. Going into the reasons behind the company doing well in its very first year, Palanikumar explained,” The main reason is our technical expertise. Our background in machinery marketing and service adds to our competitive edge. We feel that we are not mere distributors. But we are going beyond that. We are going to the field and handholding customers. We are helping solve their technical issues and help them improve their quality and productivity.”
Lakshmi Impex @ Texfair 2024
Lakshmi Impex will be displaying Neelkanth Sliver cans at their stall at Texfair 2024. “We have been representing Neelkanth for more than 3 years now and have been able to make significant inroads into the market. Moving forward, we are confident of further accelerating the growth rate, “he stated.
Going into details regarding the competitive edge that Lakshmi Impex offers over others, Palanikumar mentioned,” So far as Neelkanth is concerned, we are not just a selling agent. We are much more- dealing with A to Z of technical services to the customer. Technicality of the cans was a grey area in the industry. We have been able to educate the customers about what makes these cans special. We have an experienced technical service team. Service is our USP.”
Important trade fair
Going into the importance of Texfair, he highlighted the fact that the trade fair is being organized by a textile association and not by a third party. “We are participating for the second consecutive time in the exhibition. This is also happening in Coimbatore – the most important textile industry hub in South India. We can showcase our products and solutions to a wide cross section of customers here. Texfair is very important for us from a marketing point of view,” he said.
“We welcome visitors from across the globe to our stalls i.e., Lakshmi Fibres @ Hall ‘B’ No: 67 and Lakshmi Impex @ Hall ‘B’ No: 78. Our team will be there in full strength. We look forward to discussing the unique advantages and features that set us apart,” he said on a parting note.
