SENSEX NIFTY
Jul 05, 2011, 03.25 PM IST | Source: PTI

Reliance Trends aims to double sales in FY12

Reliance Trends, the apparel, luggage and accessories speciality format of the retail arm of Reliance Industries (RIL) might post 100% growth in sales this fiscal, said a top company executive today.

Reliance Trends aims to double sales in FY12

Reliance Trends, the apparel, luggage and accessories speciality format of the retail arm of Reliance Industries (RIL) might post 100% growth in sales this fiscal, said a top company executive today.

Arun Sirdeshmukh, Chief Executive Officer, Reliance Trends, said the division is poised to take the number of stores to 100 from the present 50.

"We are still small in terms of size of the business. But we are on a very strong wicket and Rs 330-crore business (in last fiscal) was on the back of doubling of turnover every year. So we should exactly be there this year as well (doubling revenues)," he told reporters after launching the firm's 50th store in the country and forth in Hyderabad.

"We have been able to open 50 stores in the past 50 months. This was possible because of the huge demand from consumers who look at affordability and accessibility. The company is highly technology and innovation driven and this helps us offers better value deals.

Sirdeshmukh said most of the stores are located in Tier-II and Tier-III cities and the current ration of metros and smaller cities is 60:40.

"This year we will take it to 65: 35. While we are looking at opening new stores in places like Bhimavaram (in West Godavari district), we will also penetrate in major cities to strengthen reach for the customers," he said.

To a question on the revenue mix between private labels and other brands, he said currently the trend is 50:50.

Sirdeshmukh, however, said the ratio will become 55:45 (in favour of own brand) in the next two years.

Reliance stock price

On October 30, 2014, Reliance Industries closed at Rs 979.30, up Rs 28.00, or 2.94 percent. The 52-week high of the share was Rs 1142.50 and the 52-week low was Rs 794.00.


The company's trailing 12-month (TTM) EPS was at Rs 69.66 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 14.06. The latest book value of the company is Rs 609.24 per share. At current value, the price-to-book value of the company is 1.61.

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