Gokaldas Exports news and archive

U.S. tariffs cause turmoil in Indian textile sector

The Indian textile industry is in a state of alarm as U.S. President Donald Trump's administration has imposed an additional 25 percent tariff on Indian goods, bringing the total levy on certain products to over 50 percent. The move, announced on Wednesday, is a direct response to India's continued imports of Russian oil. While an initial 25...

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Business

Gokaldas Exports sees five per cent revenue growth in Q1

Gokaldas Exports’ quarterly revenue has grown five per cent year on year. The company is looking to boost its top line by ensuring better share from existing customers and acquiring new customers. It is also improving profitability through cost optimization and efficiency improvements. Gokaldas has a diversified product portfolio across various...

Retail

Gokaldas Exports sells its real estate

Garments maker Gokaldas Exports has put many of its properties on the block. Controlled by the private equity giant Blackstone, Gokaldas has decided to sell its buildings, land and other assets which are related to its properties in Bangalore, Mysore and Hyderabad. These properties are related to Balaji Fashion House and Global Garments Unit-III...

Apparel

Blackstone strives to revive Gokaldas Exports

Blackstone, the private equity (PE) investor, who had acquired a 68 percent stake in Gokaldas Exports at 158.7 million dollars (overRs 960 crores) in 2007, has been struggling to keep the business running. The originally Hinduja-owned Bangalore-based company has failed to perform in last five-six years, since the time Blackstone bought the...

Apparel

Gokaldas reports Q3 profit of Rs 1 cr

Gokaldas Exports has reported Rs one crore profit for the third quarter of fiscal 2013-14 against a loss of Rs 43.07 crores in the corresponding period last year. Revenues in the third quarter were up 10.81 percent at Rs 252.86 crores against Rs 228.18 crores in the same period last year. EPS stood at 29 paise against negative (-12.53) last...

Apparel

Blackstone struggles to keep Gokaldas Exports afloat

Blackstone, the private equity (PE) investor, who had acquired a 68 percent stake in Gokaldas Exports at 158.7 million dollars (Rs 978.4 crores) in 2007, is struggling to keep the business running. The originally Hinduja-owned Bangalore-based company has failed to perform in the last five years of after Blackstone bought the majority stake. The...

Apparel

Gokaldas Exports Q1 sales up 14 percent

Gokaldas Exports has reported revenues worth Rs 258 crores on standalone basis in the first quarter of FY14, a growth of 14 percent as compared to the corresponding quarter of previous year. “In order to counter the sluggish market conditions, we have been working towards selectively expanding our customer base in the export market and enhancing...

Apparel

Gokaldas Exports sales rise 7.6 percent in Q4

Gokaldas Exports (GEX) has reduced its net loss to Rs 11 crores for the fourth quarter ended March 31, 2013 as against Rs 51 crores reported in the corresponding quarter last year. Its sales income during the quarter increased 7.6 percent to Rs 254 crores as against Rs 236 crores reported in the same quarter last year. The company has also...

Fashion

Garments, textile export companies hit slump season

Owing to high cotton inventory and slump in the overseas markets due to slowdown, major textile and clothing (T&C) companies like Arvind, Alok, Raymond, Century and Gokaldas Exports have witnessed their bottomlines take a hit in varying degree for the first quarter of fiscal 2012-13 on a year-on-year basis. While Arvind suffered due to labour...

Apparel

Gokaldas Exports net loss doubles in Q4 to Rs 51.3 cr

Gokaldas Exports, the Bangalore-based exporter of readymade garments, on Monday reported that its net loss for the fourth quarter-ended March 31, 2012, nearly doubled to Rs 51.3 crores compared to a net loss of Rs 26.5 crores reported in the corresponding quarter last year. The total income from operations declined 8.56 per cent to Rs 275 crores...

Apparel

Gokaldas Exports’ net loss doubles to Rs 37 cr

Gokaldas Exports, the Bangalore-based garments exporter controlled by global private equity major Blackstone, has registered a net loss of Rs 37 crores during the third quarter of FY12. Almost double compared to net loss of Rs 16.7 crores during the corresponding quarter of previous fiscal. Sales dropped by 30 per cent to Rs 208 crores. For the...

Apparel

Gokaldas eyeing mega Wal-Mart deal

With many top European retail stores moving part of their sourcing requirements from China to other Asian markets, PE giant Blackstone-controlled apparel exporter Gokaldas Exports may grab new business contracts with the world’s largest retailer Wal-Mart and other niche players. Wal-Mart Stores may become one of the largest clients for...