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ICICI Direct Report
Established in 1985, Gokaldas Exports Ltd. is one of India’s leading apparel exporters with an annual capacity of 30 million pieces (approximately 215 garmenting lines).
Gokaldas focuses on manufacturing of complex garmenting products and designs that insulate it from other price based competition. Its functions comprise of cutting, sewing, embroidery, quilting and printing.
It has an impressive clientele of leading international brands with ‘GAP’ and ‘H&M’ being the major contributor to revenues.
Under the leadership of the new Mananging Director (post exit of Blackstone in FY18), Gokaldas has scripted a successful turnaround of its business operations.
Though revenue compound annual growth rate remained flattish over FY07-FY17, several initiatives undertaken by the new management has translated into robust revenue CAGR of 15% in FY18-20.
The growth has been on the back of acquisition of new marquee customers and improved on-time delivery performance to customers.
Furthermore, enhanced operating efficiencies and reduced wastages, transformed the company from a loss making unit into a profitable one.
Gokaldas Exports being the preferred vendor for global brands appears well poised to attain sustainable growth given the opportunity size of India’s apparel exports (approximately 16 billion U.S. dollar).
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