Dollar Industries Bullish On South India Market
Dollar Industries Limited, a leading name in India’s lifestyle outerwear and innerwear business, announced its strategic vision for the South Indian market. As a major step, the company has signed superstar Mahesh Babu as its Brand Ambassador for South India.
Established in 1972 by visionary leader Din Dayal Gupta as Bhawani Textiles, Dollar Industries now holds a 15% market share in India’s branded hosiery segment and aims for 11%-12% annual growth. Under its Vision South India strategy, the company targets a 50% sales growth in the region for 2024-25.
“We have seen strong acceptance of our quality products at affordable prices in the Southern markets, which has boosted our sales. With Mahesh Babu as our Brand Ambassador, we expect to enhance our brand prominence and sales further. We aim to derive around 20% of our domestic revenue from South India,” said Vinod Kumar Gupta, Managing Director of Dollar Industries Ltd.
Binay Kumar Gupta, Joint Managing Director, added, “We are experiencing robust demand and a growing portfolio of higher-margin products. We plan to open 50 exclusive brand outlets in South India over the next three years, showcasing our entire range of products.”
Dollar Industries offers a wide variety of products across six categories: Man, Woman, Junior, Always, Thermals, and Protect. The brand is also endorsed by Bollywood superstar Akshay Kumar, actress Yami Gautam, and actor Saif Ali Khan.
The company aims to reach a revenue of Rs. 2000 crore by FY26. It has expanded its spinning unit in Tirupur from 22,000 spindles to 42,000 spindles to boost production capacity.
“Tirupur, the hub of the hosiery industry, has been vital for our production growth. Our flagship initiative, Project Lakshya, launched in Karnataka in 2019, received such positive feedback that we are expanding it nationwide,” said Vinod Kumar Gupta.
For FY24, Dollar Industries’ gross profit grew by 22.6% YoY to ₹50,588 Lakhs, EBITDA increased by 61.5% to ₹15,864 Lakhs, and PAT grew by 71.7% to ₹9,020 Lakhs, with a PAT margin of 5.7%.
Dollar’s growth is driven by innovative designs and high-quality products that meet evolving customer demands. The company also focuses on eco-friendly production methods, including a zero-discharge technique with an evaporation system. As part of its Green Mission, Dollar is expanding its solar power plant from 4 MW to 6 MW.
