Dollar Industries records turnover of Rs 829.94 cr FY15-16

Hosiery major, Dollar Industries recorded a turnover of Rs 829.94 crores for FY15-16 as against Rs 736.56 crores during FY14-15 as per audited financial results. Profit After Tax (PAT) grew by 35.48 percent to Rs 26.35 crores. EBITDA grew by 18.62 percent. Export revenue stood at Rs 69.35 crores, a 13 percent growth.

This significant growth in the last six years is being attributed to the appointment of Bollywood star Akshay Kumar as its brand ambassador. The company acknowledged his contribution in making Dollar a household name in India. Vinod Kumar Gupta, MD, Dollar Industries pointed out that ever since Akshay Kumar came on board as the brand ambassador, the company had more than doubled its turnover from Rs 396 crores to Rs 829.94 crores. He turned out to be the brand’s lucky mascot.

The company is now targeting a turnover of Rs 1,000 crores in this and has planned an aggressive sales and marketing drive. Also, the company will now increase its presence across India with a special emphasis on South India. It would even be diversifying into other products and these would be launched nationwide. In addition, it would push e-commerce sales up to the maximum percentage in its total turnover.

Dollar manufacturers 350 tonnes of quality yarn every month, which consists of 100 per cent cotton. It has invested majorly in its manufacturing facilities by creating a state-of-the-art HQ and factories in Kolkata, Tirupur, Delhi and Ludhiana, which have a daily production capacity of 5 lakh pieces. Dollar has a presence in other countries too such as Nepal, Middle East and the Gulf.