Dicitex Furnishing to invest Rs 100 cr to expand capacity

Textile manufacturer Dicitex Furnishing, is eyeing Rs 400 crore in revenues by FY12 and has earmarked Rs 100 crore for increasing production capacity and brand-building over the next one-year, a top company official said.

"We are looking at a 33 per cent increase in sales by FY12. We would be investing largely in production capacity addition as well as brand-building. We plan to tie-up with nearly 200 major retailers for selling our products," the company's Managing Director Nimish Arora told PTI here.

This target would be achieved within the first six-months of the next fiscal, he said.

The company which posted a turnover of Rs 300 crore wants to focus strongly on the domestic market.

"We export our products to nearly 60 countries. Now we want to focus on local sales. There is a huge potential in the domestic market for home furnishing products. Of the total production, we would now export only 40 per cent," he said.

Currently, the company's local business is around Rs 50 crore.

"We want to double it in the next one-year to Rs 100 crore. Our investment in brand-building, designing and production will help us achieve the target," he said.

The company runs four mills with a production capacity of 24 million metres annually.

"We want to double this capacity in the coming years for which we would be making huge investments," Arora said, without, however, divulging any financial details of the same.