Dollar Inds rises on plan to add 50 new stores

Dollar Industries added 1.90% to Rs 571.55 after the company announced plan to open 50 exclusive brand outlets across South India by 2027.

The company had recorded its highest ever revenue in 2023-24 and it aims for 50% sales growth in South India in 202425 by opening 50 outlets across the region.

The wide variety of Dollar products are spread across 6 categories - man, woman, junior, always, thermals & protect.

As a part of the companys Green Mission initiative, the existing 4 MW solar power plant will be increased by further 2MW unit taking it up at 6MW.

The company stated that it has a goal to reach revenue of Rs 2,000 crore by FY26, and to achieve this revenue, it has already announced a capex in the year 2021, for increasing the capacity of the spinning unit in Tirupur from 22,000 spindles to 42,000 spindles. That capex has already been incurred and very soon the additional production capacity will start which will help the firm internally in production.

Vinod Kumar Gupta, managing director, Dollar Industries, said, We have received a good response for our products from the Southern markets and consumers have accepted our quality products at affordable prices from the house of Dollar. The acceptance here is evident from our sales growth in these markets. Our domestic sales have recently increased from these markets and stands at around 8%.

With Mahesh Babu now being our brand ambassador for southern market, it will act as a catalyst to boost our brand prominence and sales even more. We are extremely bullish and targeting to garner around 20% of our domestic revenue from South market.

Dollar Industries is primarily engaged in manufacture and sale of hosiery products in knitted inner wears, casual wears and thermal wears. It also has a Power Generation Unit sourced from Windmill and Solar.

The company reported a consolidated net profit of Rs 33.59 crore in Q4 FY24, steeply higher than Rs 0.43 crore in Q4 FY23. Revenue from operations climbed 23.02% to Rs 499.95 crore in Q4 FY24.

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