- Sujata Sachdeva |
One of the oldest textile manufacturers, Mafatlal Industries has announced the appointment of Aniruddha Deshmukh as new Chief Executive (CEO) and Managing Director. Mumbai-based Mafatlal also appointed Deshmukh on the company's board. Before joining at Mafatlal, he was President of textiles division at Raymond.
On July 8, 2015, the company's former MD and CEO, Rajiv Dayal expressed his desire to take pre-mature retirement and the company had then appointed Deshmukh as its Chief Operating Officer (COO). As per company's announcement to the BSE, with effect from August 13, 2015, Deshmukh will take charge.
A manufacturer of denims and saris, Mafatlal had reported annual net profit of Rs 23.84 crores for the year 2014-15, marginal 5.8 percent higher than same period last year. The company has reported annual sales of Rs 1013.46 crores during FY 2015. Mafatlal Industries is manufacturer of quality textiles in India since 1905 and has vertically integrated composite state-of-the-art manufacturing facilities with the latest technology, machinery and infrastructure at its units located at Nadiad and Navsari in Gujarat. Having an extensive dealer network comprising of 450 dealers and 35,000 retail points of sale, their products are available throughout India and overseas markets.