Textiles firm Alok Industries attempts to dual its gross to
around $3 billion over the next 3 yrs, mainly on arising exports and
revitalisation in domestic perfecta top official told on Friday. The firm sees
exports touching 25 billion rupees by the end of the currrent fiscal year
versus fifteen billion rupees final yr, director Dilip Jiwrajka said reporters
on avocations of an industry conference organized by consultancy Technopak
Advisors.
The company would open 80 retail stores in UK
in FY11, taking its total tally to 300, Jiwrajka said. "Our export order
book is looking really good," Chief Financial Officer Sunil Khandelwal
said. "We are exporting a larger number of products. We're like a shot as
well exporting polyester yarn with much to-do," Khandelwal added. The firm
plans to double its polyester yarn capacity to 400,000 tonnes by December. It
is also adding 50,000 spindles to its existing 300,000, he told.
Alok Industries has earmarked a capital expenditure of 4.5-5
billion rupees for FY12 and FY13 each to ramp up capacity across products,
including terry towels, bedsheets, technical textiles and polyester. The
company is carrying out a 7 billion rupees expansion programme in the current
fiscal. There was "enormous scope" in the Indian textile industry,
which was growing at an average of 15 percent per annum, he said. "We are
driving on a highway, and on highway we can only drive in the fifth gear."
The company's current gross debt is at 86 billion rupees,
which it seeks to pare through increased internal accruals and fund-raising by
selling off its real estate properties. At 2.09
p.m, share prices of the company were trading up 5.7 percent at
20.40 rupees a share in a flat Mumbai market.
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