Globe Textiles will add a garment processing capacity of up to 20,000 units per day and 6 Lakh units per month
Ahmedabad (Gujarat) [India], April 15: Globe Textiles India Limited (GTIL) (NSE: GLOBE), a well-known textile star exporter of fabrics and garments catering to global and domestic markets for the last two decades will add a garment processing capacity of up to 20,000 units per day and 6 Lakh units per month and eyes a 520 [...]
PNN
Ahmedabad (Gujarat) [India], April 15: Globe Textiles India Limited (GTIL) (NSE: GLOBE), a well-known textile star exporter of fabrics and garments catering to global and domestic markets for the last two decades will add a garment processing capacity of up to 20,000 units per day and 6 Lakh units per month and eyes a 520 Cr top line in next 3 years.
With an environmentally friendly facility with a Zero Liquid Discharge system and partly solar generation which minimizes energy costs while using green energy company expects a 30% uptick in revenue and a top-line of 520 crores by 2027. Positioned as an industry leader in environmental responsibility and fashion-centric customer satisfaction, the company uses nature-friendly dyes and chemicals and has pioneered sustainable processing techniques that give a better hand feel to apparel while minimizing energy consumption and maximizing water recycling through its Zero Liquid Discharge system.
Mr. Bhavin Parikh, Chief Executive Officer at Globe Textiles (India) Limited said, “With the ongoing innovation we are planning to introduce denim tops in the female category and we reaffirm our dedication to sustainability and innovation in the textile industry. After successful rights issue and acquisition, we will enhance our asset base, margins, and top line as well as introduce innovative sustainable fashion garments and practices which are sought after by customers from India, Europe and US.”
Globe Textile has reported a revenue of Rs 399.4 crore in Dec 2023 and has a production capacity of over 2.5 lakh sq. feet where it manufactures, 36 million meters of fabric and 2.5 million bottoms per annum. It has reported robust financial results over the years with a 10-year CAGR of 13 percent in Revenue and 13 percent Net Profit. With a market cap of over 100 Crs and retail shareholding of over 55% industry experts say that “Globe Textile is a stock to watch for a breakout on the charts”.
