Filatex Mines and Minerals, a subsidiary of BSE-listed Filatex Fashions, has received an export order worth $35 million (₹293 crore) from Bloomflora Ventures for supply of 2.97 tonnes of white marble. The white marble will be supplied over a period of seven years for 54 hospitals Bloomflora Ventures is building in Africa.
The Board of Filatex Fashions has appointed Sunil Agarwal as an Additional Director and CEO. Agarwal has over 10 years of experience and has expertise in Financial Services, Advisory, Investment Advisory and Risk Management Consulting and has been on the Boards of some prominent companies.
Last month, the company’s shareholders approved the 5:1 stock split. Authorised share capital of the company stands at ₹850 crore divided into 850 crore equity shares of ₹1 each to enhance the liquidity in the capital market and widen shareholders base. The record date for the stock split is fixed as August 9.
Incorporated in 1995, Filatex Fashion specialises in socks manufacturing and cotton products with 25 socks-knitting machines with the latest finishing and setting machines, using infrared technology for the first time in India.
The company’s clients include leading brands such as FILA, Sergio Tacchini, Adidas, Walt Disney and many other top labels of the fashion world. It has a modern plant spread over 4 acres, capable of producing 8.64 million pairs of socks per annum. The company further plans to ramp up production capacity to 14 million pairs of socks per annum.
In FY24, the company posted net profit of ₹9 crore on an income of ₹179 crore.