20
Tuesday
October 2020
7:39 PM IST
News Headlines
ED grills Farooq Abdullah for six hours in JKCA graft case, People''s Alliance says it''s vendetta        NCW seeks explanation from Kamal Nath for his remarks against MP minister        Imran Khan incapable and clueless; betrayed people of Pakistan: Opposition leaders        Nawaz Sharif''s son-in-law arrested in Pakistan        Kerala''s Covid tally touches 3.33 lakh with 5,022 fresh cases        HC restrains Customs from arresting Sivasankar till Oct 23, suspended officer discharged from hospital        Buttler, bowlers guide RR to seven-wicket win over CSK        Punjab beat MI in second Super Over        Saina, Sindhu's biggest Graffiti in India unveiled        Trump leans into fear tactics in bid to win Midwest states        US polls: New Congress could have more Indian Americans to the House Advertisement        Active COVID-19 cases below 8 lakh for 2nd day in row; recovery rate 88.03 pc        Flood situation grim in parts of Telangana, Karnataka        Dalit woman gang-raped at gunpoint in UP        Army pressed into service in 4 flood-hit Karnataka dists; CM to undertake aerial survey        Pakistan pacer Umar Gul announces retirement from all forms of cricket        HDFC Bank Q2 net profit rises 16% to Rs 7,703 cr        Biden warns Trump wants to scrap health law        BJP govt has surrendered in front of criminals: Akhilesh        Rahul Gandhi, Capt Amarinder vow to force centre to revoke black farm laws        
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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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KERALA NEWS
Kerala''s Covid tally touches 3.33 lakh with 5,022 fresh cases
 Thiruvananthapuram: Kerala on Monday recorded 7,469 recoveries and 5,022 new COVID-19 cases, pushing  
Jnanpith awardee Akkitham Achuthan Namboothiri dead
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INTERNATIONAL NEWS
Imran Khan incapable and clueless; betrayed people of Pakistan: Opposition leaders
 Karachi: Prime Minister Imran Khan is "incapable and clueless", and his government is worse than a d
Nawaz Sharif''s son-in-law arrested in Pakistan
Trump leans into fear tactics in bid to win Midwest states
US polls: New Congress could have more Indian Americans to the House Advertisement
NATIONAL NEWS
ED grills Farooq Abdullah for six hours in JKCA graft case, People''s Alliance says it''s vendetta
 Srinagar: The Enforcement Directorate on Monday questioned National Conference president Farooq Abdu
NCW seeks explanation from Kamal Nath for his remarks against MP minister
Active COVID-19 cases below 8 lakh for 2nd day in row; recovery rate 88.03 pc
Flood situation grim in parts of Telangana, Karnataka
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