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– Successful rights issue of Rs. 45 crs where promotor subscribed 40%
– Environmentally friendly facility with Zero Liquid Discharge system and partly solar generation which minimises energy cost while using green energy and maximises water recycling to attract global customers and bring the company on radar of ESG funds
– Innovative sustainable processing techniques are sought after by customers from India, Europe and the US.
– Company has commenced production of the tops segment. This will complete the offering and ensure that they can cater to a wider base.
After a successful rights issue Globe Textiles India Limited (GTIL) (NSE: GLOBE), a renowned leader in the textile industry eyes a 520 cr topline in next 3 years.
With a market cap of over 100 crs and retail shareholding over 55% industry experts say that “Globe Textile is a stock to watch for a breakout on the charts”. Positioned as an industry leader in environmental responsibility and fashion-centric customer satisfaction, the company uses only approved nature-friendly dyes and chemicals and has pioneered sustainable processing techniques that give better handfeel to appearls while minimising energy consumption and maximising water recycling through its Zero Liquid Discharge system.
Mr. Bhavin Parikh, Chief Executive Officer at Globe Textiles (India) Limited said, “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 topline 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 per cent in Revenue and 13 per cent Net Profit.
The company will add a garment processing capacity of up to 20,000 units per day and 6 Lakh units per month contributing significantly to it’s production capabilities.
