Gokaldas Exports Limited has been a cornerstone of India's apparel manufacturing industry since its inception in 1979, initially as a partnership firm that was later split among three brothers, with Jhamandas Hinduja taking the lead. The company went public in 2005 and was listed on Indian stock exchanges, firmly establishing itself as a major player in the global textile and apparel sector.
As a premier apparel manufacturer in India, Gokaldas Exports Limited (GEX) specializes in the designing, manufacturing, and exporting of a wide array of apparel products to over 50 countries worldwide. The company proudly serves some of the world's most prestigious fashion brands. A significant aspect of its workforce is its commitment to women's empowerment, with over 54,000 employees, 75% of whom are women, highlighting its social responsibility in the manufacturing sector.
The company operates as a comprehensive apparel manufacturer, offering a diverse range of products across multiple categories, including outerwear, activewear, and fashion wear. GEX exports its products to fashion brands and retailers across all continents, reaching a global delivery network of approximately 50+ countries.
Gokaldas Exports provides a wide array of processing services, encompassing laying, cutting, sewing, checking, laboratory testing, washing, ironing, finishing, design, embroidery, printing, laser work, fusing, scraping, hand grinding, quilting, and polyfill applications. Its product offerings span various categories, such as high fashion garments, outerwear, bottom wear, casual wear, and sportswear, catering to diverse market demands.
Manufacturing infrastructure is the backbone of Gokaldas Exports' operations. The company boasts approximately 15,000 machines distributed across 20 strategically located manufacturing units, enabling it to effectively serve diverse customer requirements across global markets.
The company currently commands a significant market capitalization of ₹6,714 Crores as per recent market data. Gokaldas Exports has demonstrated strong financial performance in recent quarters, showcasing substantial growth across key financial metrics.
Recent Financial Highlights:
- Revenue for Q3 FY25: ₹1,000.78 Crores, representing a 78.78% jump compared to the same period last year.
- Net Profit for Q3 FY25: ₹50.34 Crores, marking a 65.48% increase year-on-year.
- Full Year Ended March 2025:
- Net Profit rose 21.05% to ₹158.54 Crores.
- Sales rose 62.44% to ₹3,864.24 Crores.
Gokaldas Exports Ltd achieved a significant milestone in March 2007 by crossing the ₹10 billion sales mark, a first for an Indian apparel company. The company has consistently expanded its market presence through strategic acquisitions and valuable partnerships.
The group's revenues saw a substantial year-on-year growth of nearly 81% during the nine months ending December 31, 2024. This growth is projected to continue at over 10-15% in the current fiscal, supported by a healthy order book and the consistent scaling up of both its standalone business and acquired entities.
In Q3 FY25, the company celebrated exceeding INR 1,000 Crores in total income, driven by a robust 79% year-on-year growth. The favorable shift in global sourcing dynamics, particularly as major brands move away from traditional manufacturing hubs like China and Vietnam, positions India as a highly competitive alternative, especially in the high-demand outerwear segment.
Gokaldas Exports Limited (GEL) was incorporated on March 1, 2004, as a conversion of the erstwhile partnership firm, Gokaldas India. The company currently operates a 100% Export Oriented Unit (EOU), a Domestic Tariff Area (DTA) Unit, and a Special Economic Zone (SEZ) Unit, demonstrating its diversified operational framework.
Gautam Chakravarty is the current CEO of Gokaldas Exports, leading the company's strategic direction and spearheading initiatives focused on operational excellence.
Promoter holding in Gokaldas Exports Ltd has seen a slight decrease to 9.38% as of March 2025, from 9.42% as of June 2024. The company has consistently attracted significant institutional investment over the years.
The company's latest funding round was a Post IPO round on October 4, 2021, for $40.4 million, with participation from three prominent investors: Goldman Sachs, Blackstone, Catamaran, and HSBC.
ICRA has upgraded Gokaldas Exports' long-term rating to [ICRA]A+ (Stable) and reaffirmed its short-term ratings. This upgrade reflects the company's improving financial profile and promising business prospects.
While current capacity constraints may temporarily limit the onboarding of new customers, ongoing expansions in Madhya Pradesh, Karnataka, and Ranchi are poised to significantly enhance revenue potential. Management remains optimistic about improving profit margins through enhanced operational efficiencies and strategic pricing adjustments.
Gokaldas Exports' strong position within the global apparel supply chain, coupled with favorable market dynamics and well-defined strategic expansion plans, positions it exceptionally well for continued growth in the evolving landscape of the textile industry.
