In a strategic move to bolster its financial standing and fortify its position in the textile industry, Globe Textiles India Limited (GTIL) recently concluded a successful rights issue of Rs. 45 crores, with promoters subscribing to 40% of the issue. The company’s eco-conscious approach, boasting an environmentally friendly facility equipped with a Zero Liquid Discharge system and partially solar-powered operations, has piqued the interest of global clientele and ESG funds.
Globe Textiles India Limited, a prominent player in textile manufacturing, aims to achieve a hefty Rs. 520 crores in revenue over the next 3 years, riding on its commitment to sustainable practices and cutting-edge processing techniques that have garnered attention from clients in India, Europe, and the US. Mr Bhavin Parikh, the CEO of GTIL, reiterated the company’s dedication to innovation and sustainability, emphasising their plans to expand their asset base and introduce fashion-forward sustainable garments.
With a track record of solid financial performance and a forward-looking growth strategy, Globe Textiles India Limited is poised for substantial expansion in production capacity, adding garment processing capabilities that will significantly boost its output. Industry experts have earmarked GTIL as a stock to watch, with a market cap exceeding Rs. 100 crores and a growing retail shareholder base standing at 55%. As GTIL sets its sights on further advancements and market dominance, its unique positioning as an environmentally responsible and customer-centric textile leader promises a bright future ahead.