Scripscan:Gokaldas Exports Ltd
Code:532630
cmp:85
Story:Gokaldas Exports Limited engages in the design, manufacture, and sale of a range of garments for men, women, and children in India.The company principally produces outerwear, including sports wear and winter wear; and bottom wear comprising casual pants, chinos, linen trousers, and denim jeans. It also manufactures blazers and pants (formal and casuals), shorts, shirts, blouses, swim wear, active and sports wear, jackets, cargo pants, men’s blazer jacket, T-shirts, knit wear, and men and ladies formal suits. The company also exports its products primarily to the United States, Canada, and Europe.The company has been making losses consistently for the past many quarters. In FY11, the company made a loss in all the four quarters and in first quarter of FY12 too it made a net loss of 26.53 crore. Though sales have always shown a growth, albeit modest, losses only seem to be mounting. Rigid pricing on exports to the company’s key markets of US and Europe amidst the sharp rise in input costs of raw material and labour is the paramount reason.The stock was in the limelight last week as there was a bulk deal on the BSE, with almost 4.1% of the company’s equity or 1.4 million shares changing hands. Promoter holding is high at 88.27% of which 68.27% is held by Blackstone and rest by the Hinduja family.The company’s major market is the US and Europe and given the current crisis in both the places, it would be a while before the company can even think of turning around.At best its a hold at present levels.
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