Pioneer continues its efforts at positioning itself as a major player and a preferred supplier for its customers in the DDPY segment. The main focus is on value addition like twisting, doubling and air texturising of yarn, to keep away from the price structure of commodity products prevalent in the industry. Product development, improved efficiency, strong marketing network, etc., are being seriously pursued.
The company is busy expanding its DDPY capacity in order to meet the expected higher demand in the coming years. The current installed capacity of 12,000 MT is set to be increased by 6,200 MT by FY17-18.
India’s embroidery market keeps expanding. One of the oldest and the most popular forms of surface ornamentation of fabrics and garments this segment is getting more organized with large players entering the market.
India is among the top suppliers of embroidered fabrics and garments worldwide. Demand for garments embellished with embroideries with sequins and crystals is quite strong in the international market, as also in India. However, while embroidery is used in a whole lot of products at the global level, the market is still an unexplored one in India.
The company has achieved a turnover of Rs. 255.36 crores during 2015-16. Apart from manufacturing and processing various types of laces, Pioneer also processes synthetic and cotton fabric and allover fabrics and laces. Its state-of-the-art plant at Kala Amb in Himachal Pradesh makes dope dyed polyester yarn. With manufacturing facilities at seven locations across the country, Pioneer has a varied and diverse product portfolio.
In the domestic market, Pioneer continues to offer a varied range of embroidery products and maintains its prominent position by leveraging its strength in product development, superior quality control and manufacturing capability to remain highly competitive in the market. In FY 2015-16, the domestic business witnessed a rise of 13 per cent to Rs. 56.48 crores. The company expects to improve its performance and profitability in the coming quarters, for which it needs to overcome problems such as frequent breakdowns, high maintenance and labor costs and also working capital paucity.