Growth Across Segments
Promoted by one of the oldest business houses in the country, Bombay Dyeing & Manufacturing has shown consistent growth across realty, home-retail and the polyester divisions
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The Wadia Group promoted Bombay Dyeing & Manufacturing Company is one of India’s largest producers of textiles. The company’s turnover and other income for FY19 stood at Rs 4,469.98 crore as against Rs 2,744 crore in the previous year. The profit after tax was Rs 1,229.98 crore as against Rs 34.41 crore in the previous year.
The company has diversified entities including Bombay Realty, the group’s real estate venture that is transforming and redefining the Mumbai skyline with its two iconic projects in the heart of the metropolis -- the Island City Centre (ICC) located at Dadar and Wadia International Centre (WIC) at Worli which are being developed into world-class residences, offices, hotels, services apartments, branded residences and retail. “Since the nature of real estate activities being carried out by the company is such that profits/ losses from these transactions do not necessarily accrue evenly over the year, results of a quarter and year may not be representative of profits and losses for the year,” the company said.
The company’s retail arm Home & You sells furnishing fabrics, textile fabrics, bed sheets, pillowcases, bed covers, blankets, bed, table and bath linen, napkins, towels of all sizes, suiting and shirting and much more. It plans to invest in design expansion, owning the digital printing space through TVC media campaigns to reinforce its leadership position, the company said. Sales channels proliferation would be a thrust area too. The company said it would also be launching a new franchise model, going forward, and would explore high volume institutional business in 2019-20. The consumer-centric products are now available across 350-plus exclusive Bombay Dyeing Retail or 2,000-plus multi-brand stores.
Then there is the polyester division that is engaged in manufacture of 100 per vent virgin polyester staple fibre and textile grade PET chips. It logged a turnover of Rs 1,439.28 crore during the year ended 31st March 2019 as compared to Rs 1,251.95 crore in the previous year. In volume terms there was an increase of over 15 per cent. The average capacity utilization was 89 per cent, though slightly lower than the previous year, was significantly better than the industry average capacity utilization of below 80 per cent, the company said.
Its state-of-the-art manufacturing facilities at Patalganga in Maharashtra produce a wide range of polyester staple fibre from 0.6 to 7 deniers, including a variety of differentiated and specialty products such as micro, optical white, dope dyed black, trilobal, hollow, spun lace and super high tenacity fibers. “We also produce textile grade PET chips,” the company said.