Filatex Fashions Ltd’s mining arm, Filatex Mines and Minerals Pvt. Ltd., has clinched a lucrative USD 35 million (Rs. 293 crore) export order from Bloomflora Ventures Limited. This deal involves supplying 2,97,388 metric tonnes of white marble over seven years for hospital projects in Africa.In recent developments, the company appointed Mr. Sunil Agarwal as Additional Director and CEO, effective July 26, 2024.
The Board also approved a 5-for-1 stock split, with August 9, 2024, set as the record date. Following shareholder approval at the EGM, the authorized share capital is now Rs. 850 crore, divided into 850 crore equity shares of Rs. 1 each.To bolster its market presence, Filatex plans to establish a wholly-owned subsidiary in Delhi for exporting textile garments and fabrics and open a corporate office in Mumbai for business expansion.
The company’s robust financial performance and strategic expansions present promising opportunities for investors in Guwahati. The city’s vibrant textile and marble markets stand to benefit from Filatex’s increased production capacity and market liquidity post stock split.Listed on NSE since May 2024 and BSE since 1996, Filatex posted a net profit of Rs. 8.95 crore and a total income of Rs. 179.02 crore for FY23-24. The firm continues to lead in socks manufacturing, catering to global brands like FILA and Adidas, with advanced facilities capable of producing 8.64 million pairs of socks annually.
