Dollar innerwear to start African exports, obtain BSE listing

City-based innerwear maker Dollar Industries Ltd (DIL) on Friday said it is expanding its exports to the eastern and western African region and also has plans to get listed on the Bombay Stock Exchange (BSE).

The company said in the coming two months, it will start exporting its products to Africa. The operations for the same will be handled from its office in Dubai.

"We expect atleast Rs.20 crore revenue from our exports to Africa and another Rs. 72 crore revenue from exports to the Middle East region this year", the company's managing director, Vinod Gupta told media persons here.

He said among all the Indian innerwear brands exporting to the Gulf region, export revenues of DIL is the highest in the category.

The company closed 2014-15 with a turnover of Rs.730 crore - up from Rs.689 crore during 2013-14.

Gupta said the company is listed on the Calcutta Stock Exchange and Jaipur Stock Exchange. However, it has plans to shift its shares from these two exchanges to the BSE.

"It is in the process and will be completed by the end of this fiscal year (2015-16)", he said.

With a consolidated revenue target of Rs. 850 crore in the ongoing fiscal year, the company is introducing a line of premium products which it claims to be globally competitive.

Also, it is coming up with a factory in Ludhiana where it has invested Rs. 25 crore.

It has a 15 percent market share in the branded hosiery segment in India.