Libas Consumer Products Ltd. plans Major Diversification in Hi-growth Innerwear segment
Mumbai (Maharashtra) [India], July 19: NSE listed Libas Consumer Products Ltd. (NSE: LIBAS), has launched Inner ware segment Brand – KNG. Libas Consumer Products has announced major diversification cum expansion plans whereby it is diversifying into Men’s innerwear, Women’s intimate wear (organic fabrics), Nightwear, Casual wear, etc. which will move the company forward as it looks to be placed as a peer competitor to leading brands.
The Company is confident that as a leader in the Fashion segment and Rocksalt, it will be amongst the top three leading players in the innerwear segment as well.
The Company has an online presence on Amazon, Flipkart, etc. And now, online innerwear sale is expected to boost company sales in a short time.
The company is expecting to generate revenues of Rs. 300 Crore in the next 3 years.
Earlier, the Company had announced excellent Q1FY22 results (Unaudited) with Total Revenue jumping from Rs. 3.19 Cr (Q1FY21) to Rs. 12.08 Cr (Q1FY22) and PAT turned positive from a loss of Rs. 5.65 Cr (Q1FY21) to profit of Rs. 1.74 Cr (Q1FY22). Earlier this year, the company had also completed a bonus issue of shares.