Meenakshi India Ltd aims to more than double its apparel capacity by FY30 amid evolving global supply chains, diversifying to reduce geopolitical risks and tapping into new categories and markets.
Meenakshi India Ltd is planning a major expansion of its apparel business, with chief executive Ashutosh Goenka saying the company intends to more than double capacity by FY30 as global brands widen their sourcing away from China. The Chennai-based manufacturer, which makes premium bottom wear and outerwear for international customers, wants installed capacity to rise to 38 lakh pieces from about 18 lakh now through phased investment of Rs 40 crore to Rs 50 crore.
According to company disclosures and reporting by Apparel Views and PTI, the expansion will come in stages, with the first new unit expected to start operating around FY28 and a second added by FY30 if demand supports it. The company has also said it aims to lift utilisation to about 70% in FY27, reflecting a gradual ramp-up rather than an aggressive build-out. Meenakshi has framed the plan as a response to structural changes in global sourcing, including the China Plus One shift and the growing willingness of international buyers to place more orders in India.
The company’s longer-term financial ambition is to reach Rs 500 crore in revenue and Rs 65 crore in profit after tax by FY30, targets Goenka described on the company’s earnings call as conservative. Meenakshi said its most recent quarter showed a sharp recovery in profitability, with consolidated profit after tax rising 153% year on year to Rs 7.12 crore in Q1 FY27 even as revenue was broadly steady at Rs 32.24 crore. Apparel Views also reported that for the year ended March 31, 2026, the company posted revenue from operations of Rs 150.76 crore and profit after tax of Rs 10.46 crore.
Meenakshi is also trying to reduce its dependence on any single geography by widening its manufacturing footprint. The company has signed a memorandum of understanding for contract manufacturing in Sri Lanka and is assessing possible facilities in Nepal and Vietnam. It has said this flexibility should help it manage tariff and geopolitical risk, particularly in the US market, where volumes have moderated but the customer base has largely held. The group is also pushing into adjacent categories such as women’s wear and athleisure, while exploring direct-to-consumer opportunities through its SHORTSTOP brand, according to ScreenPrint India.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
