Sudar Industries’ saga of success

1Sudar-pic-1In a year in which the textile sector in the country has faced increasing strain from tight liquidity conditions, hardening interest rates and slowdown in capital expenditure, the company has reported a strong performance, sustained by its fundamental strengths. The chemical Industry is also showing a lot of promise with its high-end products.

Highlighting the company’s financial performance, Mr. Murugan, Managing Director, Sudar Industries Ltd., proudly says: “The core business (apparels) of our company contributes to nearly 80 per cent of the total turnover and our chemicals and intermediates business accounts for the remaining 20 per cent, which might increase to 50 per cent by 2014, due to a huge potential for speciality chemicals. Due to our commendable performance, our apparel business reported a sale of Rs. 355 crores in 2012-13, an increase of 82.7 per cent over the previous year. The company’s chemical business reported revenue of Rs. 80 crores in 2012-13 which is projected to reach Rs. 250 crores in 2013-14. Our consolidated turnover from both the businesses in 2012-13 was Rs. 436.75 crores, an increase of 124 per cent from the previous year’s Rs. 194.78 crores. Our profit before tax increased by 89 per cent from Rs. 2,001.97 lakhs in 2012 to Rs. 3,783.39 lakhs in 2013. Our company’s net profit increased 62.71 per cent from Rs. 1,570.81 lakhs to Rs. 2,555.87 lakhs.”

Sudar-pic-5Sudar Industries has stepped up its manufacturing capacity to around 8,00,000 garments per month on an average in the current calendar year as against 5,40,000 garments in 2011-12. It also intends to start production of industrial uniforms for export under its own brand, as also formal and casual wear.

Sudar-pic-4Sudar manufactures and markets apparel under its proprietary ‘Glory to Glory’ brand. It is also engaged in contract manufacture for Indian brands and merchant exporters. The company exports its products to the US, Italy, the UK and the UAE. In order to expand its business activities, it has recently commenced direct export of industrial garments to the Gulf and South-East Asian countries.

Its outstanding performance, especially in the apparel segment, won recognition and was bestowed “The Emerging Textile Company of 2013” Award at the fourth Annual Indian Leadership Conclave and Indian Affairs Business Leadership Awards in June last.

The company also proposes to penetrate across different consumer segments in the future with its new launches, expand its manufacturing facility and set up its distribution network in South India.

Life philosophy of Murugan Muthiah Thevar

A role model first generation entrepreneur, Mr. Thevar was born in a humble remote village in Tamil Nadu. He came to Mumbai in 1984 and started his career as a tailor. Later he became an entrepreneur with two stitching machines in a Chembur slum. His operation grew to 11 machines in 1992 and 45 machines in 1996 servicing the growing needs of large brands and merchant exporters in and around Mumbai.

In order to gain self-sufficiency, in 1999, Mr. Thevar invested in 76 garment manufacturing machines and ancillary machines like bar tack machines, button hole and buttoning machines and steam-operated presses, among others.

In 2002, Mr. Thevar converted his small proprietorship into a private limited company known as Sudar Garments Pvt. Ltd. comprising 126 stitching machines and other ancillary equipment. He consolidated and relocated his garment manufacturing units to Khopoli (Mumbai) and then to Khalapur.

The company later acquired a chemical manufacturing unit in order to diversify the business, following which its name got changed to Sudar Industries Ltd.