Grabal Alok Impex (Grabal Alok), formerly known as Grabal Alok Exports, was incorporated as public limited company on December 17, 1993 in the state of Maharashtra. The company was promoted by Alok Industries, the flagship company of the Alok Group of Mumbai, in financial and technical...
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Grabal Alok Impex (Grabal Alok), formerly known as Grabal Alok Exports, was incorporated as public limited company on December 17, 1993 in the state of Maharashtra. The company was promoted by Alok Industries, the flagship company of the Alok Group of Mumbai, in financial and technical collaboration with an Austrian collaborator Grabal, Albert Grabher Gessellschaft m.b.H and Company (Grabal Group of Read More
Grabal Alok Impex (Grabal Alok), formerly known as Grabal Alok Exports, was incorporated as public limited company on December 17, 1993 in the state of Maharashtra. The company was promoted by Alok Industries, the flagship company of the Alok Group of Mumbai, in financial and technical collaboration with an Austrian collaborator Grabal, Albert Grabher Gessellschaft m.b.H and Company (Grabal Group of Austria).
Grabal Alok commenced its manufacturing activities in 1996 by setting up its first plant at Navi Mumbai with an installed capacity of 290 million stitches per annum. Over the period, Grabal Alok expanded its capacities and set up the second plant at Silvassa. In a span of a decade, Grabal Alok, emerged as one of the largest manufacturers with most modern and versatile embroidery facilities with a capacity of 9.2 billion stitches.
In December 2005, Grabal Alok acquired a 26% stake in UK-based retail company Hamsard 2353 for a consideration of â‚¤6.4 million. It has around 207 retail outlets across England, Scotland and Wales with sales of about â‚¤110 million.
Grabal Alok is a leading manufacturer of all kinds of embroidered products having wide application in home textiles, apparel fabrics and garments. The companyâ€™s products enjoy a reputation of superior quality, versatile range and intricate design among discerning customers.
Its products include:
Alok Industries - Alok is one of the fastest growing vertically integrated textile companies with operations in home textiles, apparel fabrics (woven and knits), garments and polyester yarn. Grabal has been promoted by Alok Industries and has close synergy with Alok.
Grabal, Albert Grabher Gessellschaft m.b.H & Co., (Grabal Embroideries) - One of the promoting companies of Grabal. Grabal Embroideries is an embroidery company based in Austria providing technical and designing support to Grabal.
Hamsard 2353 (Hamsard) - U.K-based retail company having 207 retail outlets across England, Scotland and Wales. Grabal acquired 26% stake in the company for a consideration UK â‚¤ 6.4 million. Later it increased the stake from 26% to 75%.
Mileta International (Mileta) - Mileta is a leading Czech vertically integrated manufacturer of shirting fabrics, handkerchiefs, table linen, damasks and batistes. The Alok Group has 60% stakeholdings in Mileta.
1993 - Incorporated on December 17, 1993 as a public limited company.
1995 - Financial and technical collaboration with Austriaâ€™s Grabal Embroideries for the manufacture of embroidered products.
1996 - Set up its first plant in Navi Mumbai with six Zangs embroidery machines.
1998 - Floated its maiden IPO; raised Rs 270.41 lakh by issuing 27,04,100 equity shares of Rs.10 each for cash at par.
2000 - Expanded its capacities by adding four Lasser machines with an installed capacity of 435 mn stitches per annum at Navi Mumbai. Raised Rs 400 lakh from Swiss Technology Venture Capital Fund in the form of Cumulative Convertible Preference shares of Rs 240 lakh and Cumulative Redeemable Preference Shares of Rs 160 lakh.
2001 - Added 2 ZSK Multi-Head embroidery machines taking the total installed capacity to 1,451 mn stitches per annum at Navi Mumbai.
2005 - Raised FCCB aggregating $10 million.
2006 - Started a second plant at Silvassa with 12 Lasser embroidery machines, 10 Multi-Head embroidery machines and diversified into quilting with one machine. Modernized the Navi Mumbai plant by replacing eight Zangs embroidery machines with four Lasser embroidery machines. Total capacity increases to 9,248 mn stitches per annum. Acquired a stake of 26% in the UK-based Hamsard 2353. Issued 20,00,000 warrants convertible into equity shares to a foreign investor as a foreign direct investment (FDI) convertible within 18 months at a price of Rs. 109 per share.
2007 - Hikes stake from 26% to 75% in Hamsard 2353.
Credit rating agency CARE provided a revised rating of â€˜A-â€™ from the previous rating of â€˜Aâ€™ to the long term bank facilities of Grabal Alok Impex.Facilities with this rating are considered to offer adequate safety for timely servicing and this rating would have strong capacity for timely payment of short-term of debt obligations and carry lowest credit risk
Also, the board of directors, at its meeting held on May 20, 2009, has approved the capital raising proposal of up to $35 million subject to the approval of the shareholders.