The company plans to augment its production capacity and also explore opportunities in the new line of business.
"The company believes the new business prospects should be carried out under a new wholly-owned subsidiary company to manage the operations in an efficient manner and to be in a better position to service international customers," Gokaldas Exports said in a statement issued on the stock exchanges.Further, the company has formed a wholly-owned subsidiary, Sri Susamyuta Knits, on 14 January 2022.
The board of Gokaldas Exports will consider October-December quarter results on 21 January 2022.
On a consolidated basis, net profit of Gokaldas Exports rose 229.99% to Rs 28.61 crore on 29.81% rise in net sales to Rs 443.77 crore in Q2 September 2021 over Q2 September 2020.
Gokaldas Exports is India's largest manufacturer and exporter of apparels.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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