Alok Industries, headquartered in Mumbai, India, stands as a prominent textile manufacturing company. Established in 1986 as a privately held corporation, it underwent transformation into a publicly traded entity in 1993. Currently owned by Reliance Industries, Alok Industries has emerged as one of India’s largest vertically integrated textile companies.
History:
Alok Industries traces its origins to 1986 when it began as a privately held corporation. A significant milestone occurred in 1989 with the inauguration of its inaugural polyester texturizing facility. By 1993, the company had transitioned into a publicly traded corporation. Over the years, Alok Industries expanded its operations, covering weaving, knitting, processing, household textiles, and clothing.
Operational Analysis:
The company’s core operations encompass weaving and knit fabrics, textile processing, manufacturing home textiles, ready-made clothing, and polyester yarns. Alok Industries has a global reach, with 25% of its products being distributed to over 90 countries across the United States, Europe, South America, Asia, and Africa. Renowned brands such as Levi’s, Walmart, Zara, and Calvin Klein are among its clientele.
Certified with Global Organic Textiles, OEKOTEX, Made In Green, Fairtrade, Egyptian Cotton, ISO 9001, ISO 18001, OHSAS 45001, MADE IN GREEN – STeP, and OKEOTEX 100, Alok Industries ensures adherence to international standards. The company holds an ownership stake in Mileta, a textile manufacturer in the Czech Republic. Notably, exports constitute 90% of the total production.
Despite the closure of its direct retail stores, Alok Industries strategically engages in online retailing through platforms like Ajio (supported by parent company Reliance) and Amazon. Moreover, it supplies products to Reliance Retail.
Financial Overview:
As of December 2023, Alok Industries Ltd. reports a stock price of ₹23.30 on the NSE and ₹23.41 on the BSE. The total asset worth is ₹7,380 Cr as of December 30, 2023. With a market capitalization of ₹11,624 Cr (December 8, 2023), the company has experienced a negative return of -1.66% over the past three years. Promoters have pledged none of the entire equity as of September 2023. In terms of profit after tax (TTM), Alok Industries Ltd. recorded a net loss of ₹948 crore.
Conclusion:
Alok Industries, under the ownership of Reliance Industries, has carved a niche for itself in the textile industry. From a humble beginning in 1986, it has expanded its operations globally, maintaining quality standards through various certifications. The company’s strategic approach to online retailing aligns with modern market trends, ensuring its continued relevance in the industry. While facing challenges, Alok Industries remains a key player in India’s textile landscape.
Frequently Asked Questions (FAQs) – Alok Industries:
- What is Alok Industries known for?
- Alok Industries is renowned as one of India’s largest vertically integrated textile companies, specializing in a wide range of products including home textiles, cotton yarn, apparel fabric, garments, technical textiles, textile accessories, and polyester yarn.
- When was Alok Industries established?
- Alok Industries was established in 1986 as a privately held corporation and later converted into a publicly traded corporation in 1993.
- Who owns Alok Industries?
- Alok Industries is currently owned by Reliance Industries, a major conglomerate in India.
- What is the history of Alok Industries?
- The company was founded in 1986, expanded its operations in 1989 with the establishment of a polyester texturizing facility, and became a publicly traded corporation in 1993. Over the years, it diversified into weaving, knitting, processing, household textiles, and clothing.
- Where does Alok Industries export its products?
- Alok Industries exports its products to more than 90 countries, including the United States, Europe, South America, Asia, and Africa.
- What certifications does Alok Industries hold?
- Alok Industries holds certifications such as Global Organic Textiles (GOTS), OEKOTEX, Made In Green, Fairtrade, Egyptian Cotton, ISO 9001, ISO 18001, OHSAS 45001, MADE IN GREEN – STeP, and OKEOTEX 100, ensuring adherence to international quality standards.
- How does Alok Industries engage in retailing?
- Alok Industries strategically engages in online retailing through platforms like Ajio and Amazon, and also supplies products to Reliance Retail.
- What is the net worth and financial status of Alok Industries?
- As of early December 2023, Alok Industries Ltd. reports a stock price of ₹23.30 on the NSE and ₹23.41 on the BSE. The total asset worth is ₹7,380 Cr, and the market capitalization is ₹11,624 Cr. The company has yielded a negative return of -1.66% over the past three years.
- Who founded Alok Industries?
- Alok Industries was founded by Surendra Jiwrajka.
- Is Alok Industries involved in philanthropy?
- Alok Industries, along with its owner Reliance Industries, engages in philanthropic activities. The company, under the (Be)Philly Foundation, supports causes such as the Eagles Autism Foundation.
Note: The information provided is based on available sources and may be subject to updates.