How Dollar Industries is adopting transformational growth?
Our solar plant at Tiruppur has a power generation capacity of 75 lakh units/year while the 4 windmills have a total power generation capacity of 4.95 MW, informs Vinod Gupta.
Any forward-looking business house needs to quickly to adapt to positive changes to eliminate redundancy. Here’s the lowdown on what’s happening at Dollar Industries.
Goal of sustainable development
Resourceful new-age businesses are those that ensure the needs and well-being of future generations without compromising on the present ones. If you think this is a tall order, well, so it is. Between financial growth and stability, operation and efficiencies, marketing and visibility, customer and client experience, scaling and team growth there is usually scant bandwidth that remains to bring in ingenuity through sustainability.
However, companies that have their soul in the game bear in mind that progress and development that occurs at the expense of the generations to come is irresponsible and certainly not supportive for social inclusion, environmental protection, or economic growth. Hence, the overarching paradigm of Sustainability.
As an organisation, Dollar Industries has maintained a keen and aggressive outlook towards its ESG policy. The company undertakes all possible measures to support sustainability year-on-year.
Thinking and acting green
Dollar Industries contributes towards a greener future through the active use of natural and renewable sources of energy like solar power and wind power. The solar plant at Tiruppur has a power generation capacity of 75 lakh units/year while the 4 windmills have a total power generation capacity of 4.95 MW. The company ensures zero Liquid Discharge into the environment through its state-of-the-art effluent treatment plant with multiple evaporators.
Empowering our biggest asset
Employee-centricity is a credo that Dollar Industries that is supported through our round-the-year activities. This is ensured through employee engagement, skill development, women empowerment, diversity and inclusion through departments, locations and ranks.
Being an involved social corporate
Ethical and human rights as well as philanthropic responsibility is an area of abiding interest. To ensure that lesser-privileged school children may have access to basic education, Dollar Industries has contributed Rs 72 lakh to various schools in Rajasthan, Uttar Pradesh, Chattisgarh and Odisha. Rs 44 lakh has been donated to multiple hospitals in West Bengal for upgradation of medical facilities and equipment. Various part of the nation reel under the impact of an unforgiving summer when access to clean drinking water becomes a luxury than need. To mitigate this, the company has installed water huts and kiosks in several parts across Delhi NCR, Rajasthan, Uttar Pradesh, Odisha, Tamil Nadu amongst others. There was also a drive organised to distribute free sanitary napkins to women in slums and certain girls’ schools in Kolkata with a view to enhance women’s basic hygiene and wellness.
Driving on strengths
Corporate governance of Dollar Industries is in safe hands with a diverse and experienced board of directors. The promoters possess more than 3 decades of experience while the Independent Directors account for 50 per cent. 75 per cent of the Audit Committee consist of Independent Directors. Representation of genders is ensured through the appointment of 1 Independent Woman Director in the Board. The Nomination and Remuneration Committee consist entirely of Independent Directors.
Digitalisation – To stay ahead of the game, it makes sense for every business to adopt and harness digital technology. Dollar Industries has been proactive in this to ensure newer revenue opportunities are not missed out on while transforming the way the business ran in the pre-digital era without any loss of value production.
To enable this, the company has introduced the Integrating Auto Replenishment System (ARS) and Distributor Management Systems for Lakshya distributors. It is currently working to implement ARS at the supply chain level. An after-sales service app is being developed at the retail level and activity tracker for the sales team. The business operations are in the process of transitioning from Oracle ERP to SAP. The company is alsointegrating automated tele-calling for our tele-callers for enhanced customer management.
With these transitions, we are aiming to achieve transparent engagements with retailers, gain deeper insights about on-ground realities that will doubtless lead to increased productivity and efficiencies.
Looking ahead to the future
Where do we see ourselves in the days ahead? Doubtless, as a top and responsible brand to reckon with. But to break this down to the tangible points, Dollar Industries, has a firm blueprint to secure its mission.
Noteworthy amongst these are a 51-49 JV with G.O.A.T Brands Lab Pte for Pepe Jeans Inner fashion whereby G.O.A.T Brands Lab Pte has acquired 50 per cent stake of Pepe and additional 2 per cent non-voting equity. To ensure that is remains a multi-brand distributor for men, women and kids’ undergarments under athleisure, sportwear, lingerie, leisure wear, sleepwear, lounge wear made of natural fibres and MMF. To undertake business operations in the regions of India, Sri Lanka, Bhutan, Nepal and Bangladesh.
We are in the process of:
- Diversifying our portfolio in the women’s segment
- Pursing growth through EBO
- Improving our capabilities for higher profitability
- Leveraging new brand overhaul
- Growth through Project Lakshya
- Integrating digitalisation to increase efficiencies
- Strategic partnership for sustainable growth
About the author: Vinod Kumar Gupta is the Managing Director of Dollar Industries. He is professionally qualified and is a Member of the Institute of Chartered Accountants of India (ICAI) and the Institute of Company Secretaries of India (ICSI). He has about three decades of experience in the field of finance, marketing and administration. Presently he is looking after overall management of the Company.