By IANS
Kolkata : J.G. Hosiery Pvt Ltd, owner of the leading brand Amul Macho, Tuesday projected a turnover of Rs.2.1 billion ($52.6 million) at the end of the fourth quarter in March 2008 against Rs.1.5 billion in the corresponding period of last fiscal, with a net profit of over 10 percent.
“The company is currently on a major expansion spree. We are planning to enter the premium range of kids and ladies’ innerwear market in a big way,” Sandeep Seksaria, director of the company said here.
“Currently, the company produces 350,000 units per day. It will be increased to 500,000 units. This would be possible largely by improving the backward integration and research and development initiatives,” he said.
He added that the company would invest Rs.800 million to expand its operations across the country.
Amul Innerwear is the third largest innerwear brand in the country after Rupa and Lux. It enjoys the number one position in Uttar Pradesh, Bihar and Jharkhand. It is also one of the leading hosiery brands in western and certain parts of northern India.
The company has 15 branches across the country.
“With the increase in production capacity and further aggressiveness in brand building initiatives, we are aiming to be leading national innerwear brand by 2010,” Seksaria said.