PPE brand Mallcom betting big on growth opportunities in India
The company is in the process of setting up a greenfield manufacturing unit at Ghatakpur on Basanti Highway in West Bengal (near Kolkata) with a total capital outlay of Rs 50 cr
Mallcom India Ltd, one of the largest integrated Indian personal protective equipment (PPE) brand, having a market cap of nearly Rs 600 crore, is betting big on the growth opportunities in this sector in India.
The Kolkata-headquartered company, which, at present, earns 67 per cent of its revenues from the export markets and 33 per cent from the domestic markets, thinks that there would be an increasing tilt towards to domestic markets, going forward, said Ajay Mall, Managing Director, Mallcom India Ltd. The overall occupational safety products/wears market in India is estimated to be over Rs 8000 crore, which is evenly (50:50) distributed between organised and unorganised sectors. The sector, as a whole is growing at 15 per cent CAGR. And the organised sector is growing faster than the unoprganised sector.
Mallcom India at present has 13 manufacturing facilities across the country including in and around Kolkata, Haridwar and Ahmedabad. The current overall capacities of these manufacturing units together stand at 3 million pairs/year of safety shoes, 3.5 million pieces/year of garments and 13-14 million pairs/year of leather gloves. Bullish over the growth prospects, the company has already taken up ramping up of capacities at most of its manufacturing units.
Besides, the company is also in the process of setting up a greenfield manufacturing unit at Ghatakpur on Basanti Highway in West Bengal (near Kolkata) with a total capital outlay of Rs 50 crore. The new unit will commence commercial operation within next few months, said Mall, adding that the new unit will have the capacity to make garments, shoes and knitted gloves.
The company has recently rolled out a new range of PV-coated industrial rainwears. It currently has over 300 SKUs and have 5 product categories. Significantly, for the production of leather shoes and gloves the company sources internally from their own tanneries, where the company has the ability to create treated leather as well. "We want to become Atma Nirbhar and increasingly bring down our dependence on imports," said the managing director.
Mall said that the company serves as an original equipment manufacturer (OEM) vendor to the world with customers (leading private labels like Honeywell, Hansel, 3M and so on) spread across 55 countries including Europe, the US, South America & Oceania.