Gokaldas Exports

What Gokaldas Exports does

Gokaldas Exports Limited is a Bengaluru-headquartered, publicly listed (NSE/BSE: GOKEX) apparel manufacturer and exporter founded in 1979. The company designs, produces, and exports ready-made garments — including fashion wear, outerwear, bottomwear, casualwear, and sportswear — for leading global fashion brands and retailers through long-term enterprise contracts. Manufacturing infrastructure spans 35+ production units across India (Madhya Pradesh, Andhra Pradesh, Karnataka, Tamil Nadu), Ethiopia, Kenya, and the UAE, backed by a 53,000+ workforce (80% female) and producing 90+ million garments annually for clients in 50+ countries, with the United States contributing approximately 70% of revenue.

The company operates an end-to-end production platform encompassing a state-of-the-art design studio, product development, accredited in-house testing, cut-make-trim manufacturing, and value-added services (embroidery, printing, quilting, laundry, laser, denim finishing — 25 million impressions per annum). Vertical integration is deepened through BTPL (BT Synthetics), a knit fabric processing unit providing backward integration into fabric. Recent acquisitions of Atraco Group (UAE-headquartered, $55 million, January 2024) and Matrix Design & Industries (Rs 489 crore, February 2024) added 40 million and 11+ million pieces of annual capacity respectively, along with duty-free US access via African facilities and entry into EU/UK-focused knitwear. The company holds an extensive ESG certification stack (SLCP, SMETA, BCI, GRS, GOTS, HIGG FEM 3, C-TPAT) required by global brand customers, and operates a domestic retail subsidiary (The Warehouse) and marketing offices in New York and Dubai.

Revenue is generated contractually through quote-based B2B manufacturing partnerships with global fashion brands and retailers across North America, Europe, Asia, South America, Africa, and Oceania. Reported total income reached Rs 4,065 crore in FY26 (up from Rs 3,917 crore in FY25) with EBITDA of Rs 434 crore. The company has executed two capital raises in 2024 (preferential issue + QIP) and attracted a strategic investment from Catamaran Ventures (NR Narayana Murthy). Leadership is led by Vice-Chairman & MD Sivaramakrishnan Ganapathi, with former Blackstone India head Mathew Cyriac serving as Chairman.

Name

Gokaldas Exports

Legal name

Gokaldas Exports Limited

Website

https://gokaldasexports.com

Company type

Public

Founded year

1979

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Gokaldas Exports Limited is a Bengaluru-headquartered, publicly listed apparel manufacturer and exporter that designs, produces, and ships 90+ million garments annually to leading global fashion brands across 50+ countries from manufacturing facilities in India, Ethiopia, Kenya, and the UAE.

Ownership category

akta.pro rank

Product category

Apparel Manufacturing

NAICS

Apparel Manufacturing (315), Cut and Sew Apparel Manufacturing (3152), Apparel Knitting Mills (3151)

SIC

Apparel & Other Finishd Prods Of Fabrics & Similar Matl (2300), Women's, Misses', And Juniors Outerwear (2330), Knit Outerwear Mills (2253)

akta.pro primary industry

Denim & Bottoms Cut & Sew (Jeans/Trousers/Shorts) (IMAOAEAD)

akta.pro secondary industries

Tops & Shirts Cut & Sew (T-Shirts/Shirts/Blouses) (IMAOAEAE), Outerwear & Cold-Weather Apparel Manufacturers (CRAAAAAI), Knitwear & Sweaters Manufacturers (CRAAAAAJ)

Keywords

• Apparel manufacturing
• Garment export
• Ready-made garments
• Knitwear manufacturing
• Fashion manufacturing

Headquarters

HQ city

Bangalore

HQ country

India

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Apparel Manufacturing & Export: Design, manufacture, and export of garments to leading global fashion brands and retailers. Revenue generated through long-term contracts with major international buyers across fashion wear, outerwear, bottomwear, casualwear, and sportswear categories. Geographic diversification across North America, Europe, Asia, South America, Africa, and Oceania.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Gokaldas Exports designs, manufactures, and exports ready-made apparel for leading global fashion brands and retailers across fashion wear, outerwear, bottomwear, casualwear, and sportswear categories. Operations span 35+ manufacturing units across India, Ethiopia, Kenya, and the UAE producing 90+ million garments annually, supported by in-house accredited testing, a state-of-the-art design studio, knit fabric processing (BTPL), and value-added services including embroidery, printing, quilting, laundry, laser, and denim processing.

Product overview

Gokaldas Exports is a single unified apparel manufacturing and export business that operates across the full garment production value chain. The company offers ready-made fashion garments including fashion wear, outerwear, bottomwear, casualwear, and sportswear through its India-based operations, supplemented by acquired brands Atraco Group (UAE-based manufacturer in Kenya/Ethiopia with 40M pieces capacity) and Matrix Design & Industries (knitwear specialist with EU market access). Value-added services including embroidery, printing, laundry, and denim services are provided internally. The company also operates a retail subsidiary 'The Warehouse' for the Indian domestic market, and BTPL for backward integration in fabric processing.

Differentiator

Problem solved

Functional benefit

Brands

• The Warehouse: Retail subsidiary producing and selling garments to the Indian retail market through offline channels, online marketplace platforms, direct-to-customer sales, and institutional sales for corporate clients.

Products and services

• Fashion Wear Ready-made fashion apparel including garments produced for various seasons for global fashion brands and retailers as part of Gokaldas Exports' B2B contract manufacturing portfolio.
• Outerwear Outerwear garments including jackets, coats, and other apparel designed for outer layering, manufactured for global fashion brands and retailers.
• Bottomwear Lower-body apparel including pants, trousers, and other bottom garments manufactured for global fashion brands and retailers.
• Casualwear Casual everyday apparel designed for comfort and relaxed styling, manufactured for global fashion brands and retailers.
• Sportswear Athletic and sports-related apparel designed for physical activity, manufactured for global fashion brands and retailers.
• Value Added Services In-house value-added apparel services including embroidery, printing, quilting and polywadding, laundry, laser, and denim processing with a capacity of 25 million impressions per annum, offered to global fashion brands and retailers as part of the end-to-end garment manufacturing solution.

Quantifiable outcome

• 90+ million garments produced annually
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Two partnerships are on record, tiered major.

• Matrix Clothing / Matrix Design & Industries Private LtdmajorStrategic or Co-development Partner · 2 February 2024Gokaldas Exports acquired Matrix Design & Industries Private Ltd in a deal valued at Rs 489 crore to expand apparel business and market access, achieving geographical diversification, operational strength, and low-cost capacity expansion. Matrix operates 5 manufacturing facilities and specializes in knitwear for Europe, UK, and North America.
• Atraco GroupmajorStrategic or Co-development Partner · 29 August 2023Gokaldas Exports acquired UAE-based Atraco Group for $55 million to expand manufacturing capacity and customer base across strategic low-cost locations in US, Europe, and Africa. Atraco has manufacturing units in Kenya and Ethiopia producing approximately 40 million garments annually.

Scale indicators13 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Hela Apparel Holdings: Sri Lankan apparel manufacturer serving global fashion brands with operations in Asia and Africa. Direct peer in the B2B apparel export space with similar geographic and customer profile.
• Brandix Lanka: Sri Lanka's largest apparel manufacturer serving global fashion brands (Victoria's Secret, Marks & Spencer). Direct peer in scaled B2B contract manufacturing with comparable customer base.
• KPR Mill Limited: India's largest vertically integrated apparel and yarn manufacturer. KPR Mill produces knitwear, woven garments, and specialty yarns for global fashion brands, operating at comparable scale (~$700M+ revenue). Most direct Indian listed comparable for cut-and-sew apparel exports.
• Vardhman Textiles: Major Indian textile and apparel manufacturer with yarn, fabric, and finished garment operations serving both domestic and export markets. Comparable vertically integrated model with global brand customers.
• Arvind Limited: Indian textile and apparel conglomerate with major export operations serving global brands (branded portfolio includes Arrow, US Polo). Comparable scale and B2B contract manufacturing business alongside branded retail exposure.
• MAS Holdings: Sri Lankan apparel manufacturer with operations across South Asia, serving global brands (Victoria's Secret, Nike, Lululemon) in intimates, activewear, and performance wear. Direct peer in capacity-scale B2B contract manufacturing.
• Shahi Exports: One of India's largest privately-held apparel manufacturers and exporters, with ~10,000+ employees and significant woven and knit capacity serving global fashion brands. Closest privately-held direct peer in scale and customer base.
• Pearl Global Industries: Indian apparel manufacturer and exporter serving global fashion brands across woven, knit, and denim categories. Operates manufacturing in India and other geographies with similar B2B contract manufacturing model to Gokaldas.

Broad incumbents

• Trident Limited: Large Indian textile conglomerate with yarn, home textiles, and apparel operations. More diversified than Gokaldas with significant home textile and towel exposure; apparel exports overlap with Gokaldas' B2B model.
• Pou Chen Corporation: Taiwanese footwear and apparel manufacturer, the world's largest athletic and casual footwear producer, with significant apparel operations. Major established global player in B2B contract manufacturing; broader portfolio than Gokaldas.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/GokaldasE
• Facebookfacebook.com/Gokaldas-Exports-LTD-100080642833524
• LinkedInlinkedin.com/company/gokaldas-exports-limited

Compliance11 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries13 records

Funding overview

Funding rounds4 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Gokaldas Exports