Finance & Economy | News & Insights

Indo Count Industries Envisions Future Growth: Poised for Success

Published: November 10, 2023
Author: TANVI_MUNJAL

Indo Count Industries Ltd., one of the leading manufacturers and exporters of bed linen and quilts from India, recently unveiled its ambitious plans for future growth. ‘As the CEO of the company, it gives me great pride to share these exciting developments. With a prudent capital allocation strategy, we have made strategic investments that have positioned Indo Count as the largest global player in the bed linen industry.’

One of our key strategies for growth involves an investment of over ₹1,000 crores to achieve a two-fold revenue increase in the coming years. Despite significant capital expenditure, we have maintained strong free cash generation, leading to a reduction in our net debt. This financial stability has allowed us to execute our expansion plans effectively.

A significant milestone in our growth journey is the acquisition of GHCL’s home textile business, a strategic move that brings complementary products, excellent talent, and strong customer relationships into our fold. This acquisition not only opens doors to the sizable Australian market but also aligns with India’s recent Free Trade Agreement with Australia.

To further de-risk our business and increase market reach, we have amalgamated our subsidiary, PSML, with the company. This strategic move has provided us with valuable assets and additional spinning capacity, contributing to margin enhancement.

In line with our vision, we are focusing on increasing the contribution of value-added segments to our revenue. We have invested in a state-of-the-art Top of the Bed (TOB) unit, which is now operational, and are strengthening our back-end operations to deliver value-added goods to both export and domestic markets. Our goal is to reach 30% of revenue from value-added products in the near future.

Furthermore, our domestic business has gained momentum with the successful launch of our brands, Boutique Living and Layers. These brands have made a strong presence in the Indian bed linen space, and we anticipate significant growth in the coming years.

Despite external challenges such as demand slowdown in international markets and record-high commodity costs, Indo Count has successfully maintained its performance by focusing on expanding value-added segments and brand-building initiatives. Our commitment to producing high-quality, luxurious bedding solutions remains unwavering.

To support our growth plans, we have completed multiple capacity and capability-enhancing projects. Modernizing our facilities, increasing home textile capacity, and investing in sewing facilities and TOB capacity have allowed us to better serve our customers and increase the value-added quotient in our business.

Indo Count is also focused on expanding its geographical presence. We have recently completed licensed brand tie-ups and are committed to diversifying our market reach in the EU, UK, and Australia. The acquisition of GHCL’s home textile division further strengthens our market presence and customer base.

In tandem with our growth plans, Indo Count Industries is dedicated to evaluating its impact using a holistic ESG lens, emphasizing sustainability and corporate responsibility. We are taking measures to minimize our environmental footprint, including a biogas plant for internal energy consumption and various energy conservation initiatives. Water management is another crucial area we are focusing on to address the global water crisis.

Our commitment to ESG principles goes hand in hand with our vision to be responsible, and compassionate, maintain high standards of integrity, be resilient, and continue innovating to inspire quality products.

As the CEO of Indo Count Industries Ltd., I am confident that our strategic initiatives will lead us to a brighter future, setting a benchmark in value creation and corporate citizenship within the sector. We are excited about the opportunities and challenges ahead and remain committed to creating a sustainable and prosperous future for Indo Count and all our stakeholders.

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