Gokaldas Exports Ltd acquires 100% of Matrix Clothing's equity in Matrix Design & Industries for ₹489 crore, expanding its knit apparel business and global customer base.

Gokaldas Exports Ltd (GEL) has acquired 100% of Matrix Clothing Private Limited's (MCPL) equity share capital in Matrix Design & Industries Private Ltd for ₹489 crore. The acquisition will provide GEL with access to the knit apparel business, a global customer base, increased access to European and UK markets, and potential for low-cost capacity expansion. GEL reported a 25% reduction in net profit to ₹30.4 crore in the December 2023 quarter compared to the previous year, while its revenue grew by 6% to ₹559.8 crore.

February 02, 2024
4 Articles

Further Reading