Alok Industries Limited

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BSE Code: 521070       NSE Code: ALOKTEXT

Business Profile
Business Profile
Alok Industries (ALOKIND) is one of the leading vertically integrated textiles solutions providers in India. Promoted by the Jiwrajka family, it was incorporated on March 12, 1986 as a private limited company and went public on Feb. 11, 1993. The chairman of the board is Ashok B. Jiwrajka and Dilip B. Jiwrajka, the managing director.

The company operates in the four special business units (SBUs) of international, infrastructure, garment and domestic retail businesses. It manufactures home textiles, apparel fabrics (woven and knitted), polyester yarns, and woven. The company has eight manufacturing facilities and all major plants are fully backed by 100% captive power. It is to set up a textile SEZ in Silvassa. With expansion plans initiated in 2006 worth Rs 11,000 million, the company is to have annual capacities for 30,000 tons of cotton yarn, 82.5 million meters of sheeting fabric, and 6,700 tons of terry towels for its home textiles business; 105 million meters of apparel width woven fabrics; 67,200 tons of knitted fabrics; 22 million pieces of garments; 125,000 tons of polyester.

The company signed license agreements with AISLE 5, LLC (USA) for its portfolio of lifestyle brands and Peacock Alley (USA), a premium brand for home linens. The company has a joint venture with Grabal of Austria named Grabal Alok Impex for embroidered fabrics with a separate plant. It has acquired a 60% stake in Mileta, Czech Republic. Its customer base includes GAP, JC Penney, Macys, Wal-Mart, Bed Bath & Beyond, and Linen & Things besides local garment exporters.

The registered office is at B/43, Mittal Tower, Nariman Point, Mumbai-400021 and corporate office at Peninsula Towers, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai-400013.

Financials
The company reported a decline in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company declined 3.03% to Rs 473.20 million from Rs 488.00 million in the same quarter last year. Net sales for the quarter surged 48.23% to Rs 8,164.10 million, while total income for the quarter jumped 45.96% to Rs 8,168.60 million, when compared with the prior year period. The company posted earnings of Rs 2.40 a share during the quarter, registering 14.59% decline over prior year period.

Recent Developments
06-APR-09
Credit Analysis & Research (CARE) assigned A rating for the long term facilities of the company.

16-MAR-09
The company has fixed March 25 as the record date for its right issue to be issued at Rs 11 a share i.e face value Rs 10 a share and premium of Rs 1 a share. It will offer the right issue in the ratio of 83:43.

21-NOV-08
The company has suspended its textile special economic zone (SEZ) project at Silvassa in Dadra & Nagar Haveli.

15-OCT-08
The company has being flagship company of Alok Group, announced its group company Grabal Alok`s UK retail chain ``Store Twenty One`` partnering with Woolworths to open its stores (shop in shop) in 16 of Woolworths high street stores, creating 130 new high street jobs.

Future Plans
Alok Industries may sell a minority stake in its demerged retail and garment businesses to private equity players. It is expanding the garment capacity to 22 million pieces from the present 8 million by the end of next fiscal. To meet the expansion expenditure, the company is going in for equity dilution.

The company is also planning to increase its stores to 100 in Maharashtra and Gujarat by the end of the current fiscal from the present 13 stores.

The textile firm has also planned an expansion worth Rs 23 billion, which will be completed in four phases.

Other Information
Annual Reports for Alok Industries Limited
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2021-22
2020-21
2019-20
2018-19
2017-18
2016-17
2015-16
2014-15
2012-13
2011-12
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2008-09
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1996-97

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