Gokaldas news and archive

Gokaldas Exports turnaround courtesy trimming of non-core assets

Private equity giant Blackstone has sold under 10 per cent stake in garment exporter Gokaldas Exports or one-sixth of its total holding in the firm as it looks to gradually liquidate one of its loss-making investments in India. The PE firm sold shares at Rs 126.2 each or less than half the price at which it had invested in the firm. It pocketed...

Business

Blackstone partially exits Gokaldas Exports

Private equity giant Blackstone has sold 4.5 per cent stake in Gokaldas Exports for Rs 10.48 crores, having lost around 75 per cent or three fourth of the original investment in the process. It sold 1.5 million shares on Monday at Rs 67.65 each. The shares were acquired by ICICI Bank, as per bulk deal disclosure on the BSE. The PE firm had...

Apparel

Gokaldas reduces losses

Gokaldas Exports has reduced its losses by Rs 4.27 crores during Q1 of 2011-12 from the same period last year. It has done this by focusing on cost management and operational efficiencies. The company reported a net loss of Rs 13.46 crores during Q1 of the current fiscal. Net sales fell 5.44 per cent from same period last year. Net sales during...

Apparel

Blackstone takesover Gokaldas

Three years after it purchased a controlling stake in the Indian garment exporter, Blackstone Group LP, the world’s biggest private equity firm, has finally rolled its engine to play an active role in Gokaldas Exports. To head its sales and marketing division and drive its overseas business, the company has appointed Gautam Chakravarti,...

Apparel

Gokaldas Exports net sales drop 11.7% in Q2

Gokaldas Exports, the Blackstone controlled apparel firm is experiencing a rough ride as it reported net sales of Rs 264 crores. Struggling to shrug off the backwash effects of global economic slowdown, Gokaldas reported 11.7 per cent drop in net sales for the quarter ended September 30 to Rs 264 crores over the same period a year ago. The...

Apparel

Gokaldas Exports Increases Domestic Business

For the first and second quarter of this year, Gokaldas Exports has comfortably crossed Rs 500 crores. However, the prospects for financial year 2011 don’t look too bright. Gokaldas hopes to achieve the topline but price pressure still continues. Rajendra Hinduja, Managing Director of Gokaldas Exports is of the opinion that the US consumer is...