Alok Industries

Alok Industries enters MoU with Zameen Organics

Alok Industries Ltd., India's leading garment exporter, has signed a Memorandum of Understanding (MoU) with Zameen Organics Pvt. Ltd. for developing and promoting organic fair trade cotton.

Zameen Organics Pvt. Ltd. is a fair trade textile company owned by Small Farmers Associations. According to a recent report, about 6000 small cotton farmers from Vidarbha, Maharastra  and Adialabad, Andhra Pradesh are members of this company.

Alok Industries expects 30% growth; expands in new markets

Textile major Alok Industries expects revenue growth of 30 per cent in FY09 and FY10.  The company has diversified into Europe, Latin America and Africa. The company expects to grow further following the organic expansion route.

The company doesn't see it much effect of US recession on its margins and sales. The recession in economy may result in decline of sales for luxury items but expenditure on basic items like textile and clothing may remain the same.

Alok Industries acquires 50% stake in Ashford Infotech

Alok Industries, India's leading garment exporter, has acquired 50% stake in Ashford Infotech, a part of the Ashford Group, through a wholly owned subsidiary, Alok Infrastructure for the joint development of realty projects.

The company has reported 32% increase in net profit at Rs 42.97 crore for the quarter ended September 2007. Sales increased by 11% to Rs 464.78 crore.

Alok Ind Sanctions Raising Rs 218.02 Cr

Alok Industries, apparel and textiles maker, on Saturday stated that it has sanctioned raising Rs 218.02 crore by issuing more than 2.13 crore equities and warrants to promoters on preferential basis.

In an announcement, the company informed the Bombay Stock Exchange (BSE) that the company’s directors took a decision to this effect at its meeting.

The board okayed issuing up to 13,75,000 equity shares of Rs 10 each at a premium of Rs 92 per share to the promoters /promoter group on preferential basis on or before February 26, it said.