The ongoing pandemic disrupted the economy, but India’s leading company in hosiery and knitwear segments Dollar Industries managed to strike the right balance between employees’ safety and efficiency, according to managing director Vinod Kumar Gupta. Despite limitations, the company overcame hurdles and managed to maintain the demand-supply ratio.
“The year has been all about restarting and restrating. With a revamped brand identity, we strengthened our digital and e-commerce presence which has assisted us reaching out to a larger consumer base,” Gupta said while addressing the shareholders at the 28th Annual General Meeting on Wednesday.
Sharing his thoughts on the way forward, Gupta added, “As the global economy is battling the adverse effects of the pandemic, companies and businesses all around are making brave business decisions every day. Now is the time that the businesses need to think out of the box as well as be adaptive. It is the need of the hour for companies to re-examine the traditional and conventional procedures and implement new processes and programs to sustain and scale their business.”
During the AGM, the shareholders approved all the resolutions including the adoption of Audited Financial Statements of the company for the FY 2020-21 and approval of final dividend of Rs. 2.40 per share. The cut-off date for final dividend payout was July 21, 2021.
During the year, Dollar Industries focused on a 360-degree communication strategy and also created a lot of buzz with the launch of its new Bigboss, Missy and Ultra TVCs. As a responsible corporate, Dollar has always focused on renewable and environment friendly practices. Focusing on its ‘Green Mission’, the company installed a 4 MW solar power plant at its Tirrupur unit, with a power generation capacity of 75 lakh units per year.
Additionally, under its CSR wing ‘Dollar Foundation’ the company has successfully initiated various CSR activities that focus on providing for the society. The company partnered with DMRA and installed 22 water kiosks to provide clean and safe drinking water to thousands of commuters. As a part of its ongoing #BeFreeBeYou initiative, the company distributed 2,000 packets of sanitary pads to women dwelling in slum areas and educated them about menstrual hygiene and bursting myths around it.
Going forward, Dollar Industries Limited is looking to expand its product portfolio to enhance consumer experience.