Indo Count Industries Ltd. clocked a turnover of Rs. 2, 258 crores in FY17 as against Rs. 2,111 crores the previous year. Commenting on the performance, Mr. Anil Kumar Jain, Executive Chairman, said: “It was a year of heightened activity for our organisation. We have set the ball rolling by gaining acceptability in the three new segments: Fashion, Utility and Institutional bedding across geographies. We have also successfully transcended into the premium segment with the launch of our lifestyle brands. Our optimism about the brands has been shared by all our customers as well.
He added: “We witnessed a few headwinds this year, but I am proud to share that the performance is indicative of the inherent fundamental strengths of our business which resulted in successful navigation through the challenging environment in our path of growth. Our strategic positioning of products and promotion will help us in sustaining and achieving the company’s desirable objectives and goals.”
Indo Count has completed phase I capex of Rs. 175 crores. It has increased capacity from 68 million meters to 90 million meters at its Kagal plant. The enhanced capacity is expected to be utilized in the next three years. As part of the phase 1 capex the company has set up a state-of-the-art RO and water effluent treatment plant. It has also set up a facility for automation of cut-and-sew and a state-of-the-art warehousing.
Indo Count has planned phase 2 capex of Rs. 300 crores which is currently under progress. As part of the phase 2 expansion the company plans to invest in additional weaving capacity (with specialized looms). It is also planning to add value-added equipments for the delivery of fashion and utility bedding and to modernise its existing spinning facilities.
Indo Count has moved up the value chain with its foray into premium bed home textiles segment with the introduction of its B2B fashion bedding brands. Indo Count Retail Ventures under the brand ‘Boutique Living’ commenced domestic operations from October 2016. Presently Boutique Living is sold across 57 cities and 234 stores in India through multi brand outlets (MBOs), Large Format Stores (LFS) and E-Commerce.
Indo Count has launched innovative products, including Infinity Cotton, which is a blend of a few finest cotton varieties in the world resulting in superior yarn and thermal balance, which balances temperature between the body and bed to deliver superior sleep characteristics.
Indo Count has also focused on some of the world’s finest fashion, institutional and utility sheets and bedding and has built significant presence across the globe. Over the years, the company has successfully carved out a niche for itself and has become a total bedding resource.