GHCL to expand retail business in India

Textile and soda ash maker – Gujarat Heavy Chemicals (GHCL) – is planning to expand its domestic retail business this year, in a move to overcome the ongoing economic slowdown.

The company is planning to tie-up with more retailers and double to its domestic operations by the end of this year. It plans to open 150 retail outlets by March 2009.

Currently, the company exports more than 50% of its business in the textile segment and domestic sales contribute only 25 to 30% to the total revenue. It is planning to increase this earning to 60%.

The home textiles business of GHCL has been impacted by the slowdown in the forign markets. The company’s nine-month revenues dropped by 2% standing at Rs 303 crore as compared to Rs 309 crore in the same period last year.