PDS Ltd’s subsidiary, Norlanka Manufacturing, aims to consolidate its position in the kidswear market by acquiring a 26 per cent stake in Sri Lanka-based children's wear manufacturer Nobleswear Pvt Ltd. The business also aims to expand its production facilities.
Besides subscribing to the company’s shares, Norlanka’s investment in Nobleswear involves making an initial investment in the company. Norlanka also aims to acquire an additional 24 per cent stake in Nobleswear at the same valuation.
Sanjay Jain, CEO, PDS Ltd says, the company aims to explore multiple sourcing opportunities by optimising this newly acquired manufacturing asset. It also aims to expand its sourcing business to over Rs 10,000 crore on the basis of its Rs 700 crore manufacturing operations. This will help enhance the company’s efficiency besides driving sustained growth.
Nobleswear’s bottom line profit of around 8 per cent helped boost its top line revenues to Rs 138 crore in FY’2023. The business’ top-line more than doubled over the past three years.
