Bhandari Hosiery Exports (BHE), Ludhiana based company focusing largely on exports of garments with expertise in T-shirt plans to set up a new line of wide ranging fabric manufacturing units at its existing location to support its future growth in textile production business. The company plans to spend Rs 12-15 crore this year after Rs 22 crore spent to create similar capacity during the last financial year.
After fully implementation of this plant by 2015-16, BHE's fabric manufacturing capacity would go up to 10 tonnes per day from the existing 4 tonnes per day. Their garments manufacturing capacity presently stands at around 10,000 pieces per day.
The company owns 12 acre of land in Ludiana at its existing location of which 5 acres have been dedicated for poplar plants.
Nitin Bhandari, chairman and managing director, BHE said that they are gradually strengthening their backward integration business which will ultimately support their core business of textile manufacturing. Textile is a high labour and low capital intensive business. Hence, the accumulative investment on their new facility is estimated at Rs 12 crore.
Selling largely, through retail business houses both in India and overseas, the company plans to strengthen its presence through domestic business-to-business (B2B) sales.
BHE has a market presence in more than 17 countries and its exports to these countries are on rise. The product variety manufactured by the company includes T-Shirts, Pullovers, Sweat Shirts, Bermudas, Polo shirts, Track Suits, Payjamas, Lowers, ladies knitted tops with embroidery, prints etc.
Nut it plans to expand its presence in Europe and the United States that contribute around 70% of annual sales. Its domestic markets contribute nearly 30 percent of its annual sales. Its existing clients include Big Bazar, Reliance among others.
BHE reported total income of Rs 124.96 crore for the financial year 2014-15 as against Rs 111.46 crore in the previous year. Net profit of the company, for 2014-15 slumped to Rs 0.64 crore from Rs 1.97 crore in the previous year.
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