J G Hosiery aims to achieve Rs 300 cr turnover

Bangalore, Apr 29: J G Hosiery Pvt Ltd, manufacturer of popular 'Amul Innerwear' and one of the oldest players in the innerwear market, aims to achieve Rs 300 Crore turnover during the current fiscal, Company Director Navin Saksaria said today.

Addressing a press conference here, he said that the company, established in 1980, had achieved Rs 150 Crore turnover in 2006-07 and in 2007-08 it touched Rs 201 Crore and this financial year it was targeted at Rs 300 Crore.

Mr Navin said that the Company proposes to increase its production capacity to Five lakh units per day from the present 3.5 lakhs.

He said that the Company's 'Amul Innerwear', the third largest innerwear brand in the country, has already made inroads in Uttar Pradesh, Bihar and Jharkhand and it is one of the leading hosiery brands in Western and Central parts of Northern India. It entered the Bengal and north-eastern markets last year.

Mr Navin said that the company is currently on a major expansion spree by investing about Rs 80 Crore. The expansion includes setting up one plant in Delhi and entering the premium range of kids and ladies innerwear market in a big way. The company at present has factories at Tirpur and Kolkata.

Announcing entry into South India, Mr Navin said that besides the establishment of company's third plant in Bangalore today, it was proposed to set up two more units in Kochi and Hyderabad within next three months.

Replying to a question, he said that last year the company export was to the tune of Rs Six crore to Middle East, South Asian Countries, Germany and France. "The company was promoting its own brand and not interested to manufacture for other brands."

UNI