Monday, November 29, 1999

Rupa & Co to enter South-Asian, African markets

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Kolkata, June 16 (PTI) Rupa & Co Ltd, the country''s largest hosiery producer, is planning to launch the brand across countries in South-Asia and Africa. The company would be launched in Bangladesh and Sri Lanka, where it would offer licences to local partners for production and marketing, Rupa & Co chairman P R Agarwala said here today. "We will also launch our brand in South Africa and Nigeria, followed by other countries in the region," Agarwala said. "We have applied to get listed on the BSE and we hope to get the approval in a month. We may hit with a FPO in the future," Agarwala said. The Kolkata-headquartered hosiery and knitwear major is currently listed on the Calcutta Stock Exchange and Jaipur Stock Exchange, but there is no liquidity in the scrip. After implementing the expansion plans for its plants in West Bengal and Tripura, the company''s capacity will increase from the current six lakh to seven lakh pieces per month. Rupa & Co registered a net profit of Rs 25.23 crore in 2009-10, up by 77 per cent over the previous year. The paid-up equity capital of the company is Rs 7.95 crore.

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