Gokak Textiles has received an approval to locate a buyer and to sell the Knitwear Business. The book value of the fixed assets of the business as on September 30, 2013 was Rs 16 crore. The board of director at its meeting held on October 16, 2013 has approved for the same.
Gokak Textiles is engaged in the business of Knitwear (Apparels), the manufacturing unit of which is located at the Village Marihal, Belgaum district in state of Karnataka. For the 18 months period ended September 30, 2012, total sales of Knitwear was Rs 26 crore, 5.45% of the total revenue from operations for that period.
