27
Monday
January 2020
2:35 AM IST
News Headlines
Padma Vibhushan for Jaitley, Sushma, Fernandes posthumously; Parrikar given Padma Bhushan        Coronavirus scare: Nearly 100 people under observation, PMO reviews India''s preparedness        China facing ''grave'' situation, says Xi as coronavirus death toll rises to 41        Quake kills 22 in Eastern Turkey        Nepal offers to play role of mediator between India and Pakistan        India can play Asia Cup matches at neutral venue, but call is ACC''s: PCB CEO Khan        South Africa crumble after Broad, Wood help England rack up 400        Hugo Boumous inspires FC Goa to a thrilling 3-2 win over Kerala Blasters FC in Hero ISL        Growth slowdown in India temporary, expect momentum to improve going ahead: IMF chief        SC refuses to entertain plea against imposition of NSA amid anti-CAA protests        'Batman' script is beautiful, dark and moving: Colin Farrell        Scriptwriting is underrated: Ayushmann Khurrana        Agarkar applies for national selector's job, frontrunner for chairman's post, Prasad in running too        Rahul relishing dual role, says staying behind stumps helps batting too        Samsung moves India chief HC Hong to Latin America        WEF 2020 meeting ends with hopes for better and cleaner economy        Sebi fines Scan Steels Rs 18.8 lakh for fraudulent trading        Italy threatens Facebook with new fine for selling users' data        Nepal says if India can resolve boundary issue with Bangladesh, why not Kathmandu        Houston building explosion shakes city, scatters debris        
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Business News
BSL plans to revamp operations; focuses on bottomlin
 
Kolkata: BSL Limited plans to revamp its marketing operations and the senior management team to make it one of the top three manufacturers of suitings and furnishing fabrics in the country, a company official said.

BSL, formerly Bhilwara Synthetics Limited, is currently focusing on improving bottomline after which it will go for capacity expansion, the company's joint managing director Nivedan Churiwal said.

"We are trying to revamp the domestic business for which we are revamping the senior management team as well as the marketing operations", Churiwal told PTI.

He said the company's aim is to "be among the top three" suitings and furnishing fabrics manufacturers in the country.

Churiwal said the financial health of BSL has been good, although the company was making low post-tax profits.

Last year, he said, the company had made a meagre net profit of around Rs one crore.

"This was due to high interest and depreciation costs in fabrics industry as compared to the trading of garments," he said.

Churiwal said the company plans to achieve a turnover of Rs 480 crore and an EBITDA (Earnings before interest, tax, depreciation and amortization) of Rs 40 crore in the current fiscal.

"We expect net profit to be Rs five crore this fiscal", he said.

BSL plans to expand the network of its dealers and retailers and to be present in 5,000 to 6,000 multi-branded outlets over the next two to three years, he said.

Churiwal said that the manufacturing capacity of the company is 18 million metres of fabric annually.

"We want to grow by 15 to 20 per cent every year.

Then, we will look at capacity expansion", he said, adding that the company exports its products to 60 countries.

Churiwal also said it has "no plans to enter the apparel business".


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US removes currency manipulator label on China ahead of inking of trade deal
Flipkart opens two warehouses in Haryana, to create over 5,000 local jobs
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Rupee extends gains by 8 paise to 70.86 against US dollar
KERALA NEWS
Man killed with soil excavator
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INTERNATIONAL NEWS
China facing ''grave'' situation, says Xi as coronavirus death toll rises to 41
 Beijing: President Xi Jinping on Saturday said that China is facing a "grave situation" but exuded c
Quake kills 22 in Eastern Turkey
Nepal offers to play role of mediator between India and Pakistan
Italy threatens Facebook with new fine for selling users' data
NATIONAL NEWS
Padma Vibhushan for Jaitley, Sushma, Fernandes posthumously; Parrikar given Padma Bhushan
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