Filatex Mines and Minerals Pvt Ltd, the mining arm of Filatex Fashions Ltd, has secured a series of significant export orders totaling Rs. 661 crore (USD 78.88 million) within the past month. The latest order, announced on August 29, 2024, involves the supply of 1,59,000 tonnes of polished marble tiles to Société DIMO – BTP SARL (SDBS) of Guinea. This contract, valued at approximately Rs. 368 crore (USD 43.88 million), spans five years and reinforces SDBS’s expansive distribution network across 14 African nations.
Earlier in July 2024, the subsidiary had already clinched an order for 2,97,388 metric tonnes of white marble, worth Rs. 293 crore (USD 35 million), over seven years. These deals bolster Filatex Fashions Ltd’s market position, which, as of August 29, 2024, stands with a market capitalization of Rs. 966.75 crore.
In addition to its export successes, the company has made several notable developments. Mr. Sunil Agarwal was appointed as the Additional Director and CEO on July 26, 2024. The company also approved a 5-for-1 stock split, effective from August 9, 2024. Furthermore, a new wholly owned subsidiary will be established in Delhi for textile garment exports, reflecting the company’s strategic expansion plans.In Kolkata, Filatex Fashions Ltd’s recent achievements have sparked interest among investors and industry observers. The substantial export orders highlight the company’s robust growth trajectory and its expanding footprint in the global market. The stock split and new business initiatives are expected to further enhance liquidity and attract more investors in the Kolkata market, bolstering the company’s financial position and market presence.
