Banswara Syntex expects $12mn order from tech fabric div

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Banswara Syntex expects $12mn order from tech fabric div

In an interview with CNBC-TV18, Ravi Toshniwal, Joint Managing Director of Banswara Syntex, spoke about his outlook for the company.

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In an interview with CNBC-TV18, Ravi Toshniwal, Joint Managing Director of Banswara Syntex , spoke about his outlook for the company.

Here is a verbatim transcript of an exclusive interview with Ravi Toshniwal on CNBC-TV18. Also watch the accompanying video.

Q: From whom do you source your greatest amount of revenues?

A: For us the biggest markets are in the US and Europe. We have been dealing with the best of customers in these markets. For example we do Dockers, Levi's, Marks & Spencer in the UK and Next. We do biggest retailers and brands both in men's and women's wear-formal clothing.

Q: You have come back into the black, has there been a turnaround in the pricing or raw material sourcing? What has led to the numbers getting back into the green after loss making performances earlier?

A: We have never been in the red. Only in the nine months of last year, there was an aberration because of the exchanged loss. We have always been in black for the last four years. At the end of last year, we had about Rs 9 crore profit after tax (PAT). Right now at the end of the third quarter, we have a positive Rs 21.5 crore. So it has not been ever in the red, just the situation for the exchanged loss which most people had last year.

Q: From your export focus could the revenue mix change going forward because I believe that you have got a significant order from the Indian army, could domestic revenue start to pick up?

A: Yes that is an interesting order. A lot more growth happening in the Indian market for us and not just with the technical fabrics with defense which is a specialized fabric where there is a good margin and a good volume. We are also doing technical fabrics for other markets in exports. This revenue will pick up significantly in this particular financial year where there is significant technological investment we made- an investment of about USD 5 million, we are expecting orders of about USD 12 million in the next year with this technical fabric division.

Moreover, if you look at the growth in the full packaged uniforms and suits that we supply to brands within India that is like Park Avenue and Blackberry for the full tailored clothing solutions, that is where we are gaining a lot of momentum. We see that these value added products have contributed to our bottomline improving and that is what will take it forward as well.