Dollar Industries to set up manufacturing unit in Ludhiana.

Kolkata-based Dollar Industries Ltd.- the third largest hosiery brand in the country - plan to set up a new manufacturing unit in Ludhiana at an expected cost of Rs. 25 crore.

To be built over a one-acre plot, the unit is expected to be operational by the end of the next fiscal.

According to Vinod K Gupta, Managing Director, Dollar Industries, the new unit will cater to thermal and outer-wear. Outer-wear offerings are under the brand 'Force' and include mainly jeans, trousers and chinos.

'We are already in possession of the land. Work is expected to begin soon and the unit commissioned by end of FY-16,' he told reporters during a press conference.

The company reported a turnover of Rs. 689 crore and a profit of over Rs. 61 crore for FY-15. It is targeting a 24 per cent increase in net sales this year to Rs. 850 crore.

Its manufacturing facilities - both owned and outsourced - are located across Kolkata and Tirupur (for hosiery); Delhi for socks; and, Ludhaina (thermal wear).

Dollar competes with Indian vendors like Lux and Rupa; and with international brands like Jockey and Hanes in the Rs. 5,000 crore organised hosiery and knitted products segment.