BSL eyes profitability on the back of higher sales
Kolkata/IBNS: BSL Ltd, a leading Indian player in the field of textiles and suitings, has established a three-pronged corporate strategy to provide a fillip to all its existing business verticals in the next three years, the company said in a recent press release.
This includes revamping of the BSL brand, professionalizing its management and scaling up its presence nationally.
The major focus area is to bolster its bottom line growth to complement the robust top line growth, the company said.
Formed in 1971 at Bhilwara in Rajasthan, BSL Ltd has a pan-India presence besides exporting to 60 countries across the globe.
It currently produces over 18 million meters of fabric with a turnover of Rs 450 crore in 2018-19.
According to the company, it continues to be the only vendor in India that deals in every possible fibre, whether natural or artificial.
The new strategy adopted by the company includes revamping of all the three business verticals: suitings for domestic and export markets, as well as the furnishing arm.
The company is also overhauling its marketing structure to corner a larger pie in the domestic suitings market.
The dealer base is being expanded and the focus is on expanding the retailer base from the current 1,500 MBOs to 6,000 MBOs in the next two years, according to the company.
The export division is exploring new markets in Africa, Australia, Europe, USA, Canada and other Latin American countries.
The company said that its furnishing arm has been the fastest growing segment over the last few years.
The company plans to double its sales over the next couple of years.
This arm of the business continues to thrive on its long-standing association with Swedish home furnishing giant IKEA.
The company said it will continue to make niche furnishing fabric and explore the immense growth opportunity to increase the sales volume in the coming years.
Highlighting about the new growth strategies, Nivedan Churiwal, Joint Managing Director, BSL, said, “Presently, the domestic suitings market contribute 20% of the total turnover, while the export suitings and export furnishings contribute 35% and 25% respectively. In the coming years, all three verticals are expected to go northward.The top line is expected to grow in the range of 10-15% minimum year-on-year but it is the bottom line where we are looking at clocking exponential growth in this fiscal year and year-on-year.”
Image Credit: BSL Suitings/Facebook
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