Dollar Industries Limited, which began its journey in 1972 as Bhawani Textiles, has earmarked Rs 120 crore for expansion and new launches as a part of its Vision 2025.
Dollar would be adding one more spinning mill in Dindugul and start a new warehousing facility-cum-Hosiery Park at Jagdishpur in West Bengal which would act as a centralised dispatch centre easing out logistics, enhancing economy of scale, rationalisation of staff and output and facilitating faster delivery.
As a part of the company’s Green Mission initiative, the existing 4 MW Solar Power Plant will be increased by 2MW unit. A land has also been purchased in Tirupur where the knitting unit will be expanded. The company would open 125 Exclusive Brand Outlets, mostly in Tier 2 & Tier 3 cities, by 2025.
Dollar has also unveiled their 50-year special advertising campaign featuring brand ambassador Akshay Kumar, with whom it shares a decade-old association.
Dollar has also signed actors Yami Gautam as their Brand Ambassador for the Dollar Missy segment. A new advertising campaign featuring Gautam would be launched soon.
This year will also see Dollar foraying into women’s lingerie segment in a major way with the launch of varied range of products like everyday bra, t-shirt bra, sports bra, and more under the Dollar Woman category.
“Steady and sustained growth, based on a clear vision has enabled Dollar Industries to become a global brand. The foundation of The Group is based on two core values: Quality and Excellence in the pursuit of realising our goals. By focussing on these and the commitment to offer the best to our customers to meet their growing needs, have been the underlying factors of the groups' success. I am glad that we have followed these principles over the last 50 years. It has been the hard work of the employees over the years, who I always consider as a part of our family, who has helped us to turn this business into a major conglomerate to reckon with in the hosiery industry. With our third generation now entering the business and holding my hands in going ahead, I can feel the same spark that I felt when I started this business. The younger generation has been successful in making Dollar’s presence felt across e-commerce platforms which has given a great boost to the business,” said Din Dayal Gupta, Founder and Chairman Emeritus, Dollar Industries Limited.
“Our viable advantage lies in our huge production capacity, a large product line, innovation, being contemporary and a reputation of offering world class quality at best price. We have continued to change and reinvent ourselves and revamped our brand and corporate portfolio over the years to make ourselves contemporary with time as we believe that the success of a great family business lies in the perfect blend of both worlds - experience clubbed with modern thinking and new-age vision. It has been a great journey for all of us and we can look back only with fondness. Our growth is sustained by offering newer designs and quality products according to customer’s specifications and demands. Of course, brand loyalty has also played an important role in our growth. The burgeoning success in our newly launched Athleisure range vindicates our plans. We expect similar success with our soon to be launched women’s lingerie range under Dollar Woman. The goal now is to be a Rs 2,000 crore company by FY 2024-25,” said Vinod Kumar Gupta, Managing Director, Dollar Industries Limited.
Dollar has recently associated with Rajasthan Royals as the principal sponsor, with the intention of enhancing the brand visibility of Athleisure range, nationally. Going forward, the company is looking out to expand its market into African countries besides being successful in Middle East.
The Company also announced its annual results for the year ended March 31, 2022.
Highlights for Q4 and FY22 Standalone Financials Total Revenue for Q4FY22 & FY22 stood at Rs 376.79 crore and Rs 1356.85 crore as compared to Rs 310.44 and Rs1040.43 crores for Q4FY21 & FY21, amounting to a growth of 21.38% for Q4FY22 and 30.41 % for FY22.
Operating Revenue for Q4FY22 and FY22 stood at Rs 373.01 and Rs. 1350.32 crore as compared to Rs 308.31 and Rs 1036.95 crores for Q4FY21& FY21, registering a growth of 20.98% for Q4FY22 and 30.22% for FY22.
PAT for Q4FY22 and FY22 stood at Rs 37.10 crore i.e. 9.85% and Rs 145.87 crore i.e. 10.75% as compared to Rs 20.09 crore i.e. 6.47% and Rs 87.28 crores i.e. 8.39% for Q4FY21 & FY21, growth of 84.63% and 67.13% for Q4FY22 and FY22.
Additionally, under its CSR wing, Dollar Foundation, the company has successfully initiated various CSR activities that focused on providing for the society over the years. From this year, the company will be installing 35 - 40 water kiosks at Delhi Metro station and a significant number of the same in and around Puri in Odisha by 2025. Dollar will also be setting up eye testing camps for children at Sundarbans, West Bengal.
In the recent past, Dollar has revamped its brand architecture and unified all of the products into five major categories - Dollar Man, Dollar Woman, Dollar Junior, Dollar Always and Dollar Thermals as a part of its growth strategy. Apart from this, adhering to latest technologies and innovations have helped the company in creating a benchmark in the industry. Dollar believes in eco-friendly ways of production, and thus have introduced a zero - discharge technique with evaporation system.