### **Company Overview** Mallcom (India) Limited, founded in **1983 in Kolkata** by Mr. Ajay Mall, has evolved from a small leather gloves manufacturer into **India’s largest integrated manufacturer and distributor of personal protective equipment (PPE)**. With over four decades of experience, the company operates as a one-stop solution for **head-to-toe PPE**, serving both domestic and international markets. It is publicly listed and headquartered in Kolkata. Mallcom combines **backward integration**, **in-house R&D**, and **vertically integrated manufacturing** to ensure quality, cost efficiency, and supply chain reliability across its product lines. --- ### **Manufacturing & Infrastructure** As of November 2025, Mallcom operates **13 state-of-the-art manufacturing facilities** across three key Indian states: - **West Bengal** (Kolkata, Bantala, Chandipur, Ghatakpukur) - **Gujarat** (Sanand, GIDC, Apparel Park SEZ) - **Uttarakhand** (Haridwar) The manufacturing footprint exceeds **1 million square feet**, up from 750,000 sq. ft. in prior years, reflecting strategic expansions. Units are established under various regulatory frameworks: - **Domestic Tariff Area (DTA)** - **Export-Oriented Unit (EOU)** - **Special Economic Zone (SEZ)** This allows **flexible access** to local markets, export gateways, seaports, and airports, optimizing logistics and export efficiency. --- ### **Production Capacity & Product Portfolio** Mallcom offers one of the **broadest PPE portfolios in India**, catering to industrial, construction, healthcare, mining, and emerging sectors like **semiconductors and electric components**. #### **Annual Production Capacities (Nov 2025):** - **Safety Helmets:** 1.2 million units - **Safety Apparel:** 3.6 million units - **Face Masks:** 150 million units - **NBR Gloves:** 14 million pairs - **Leather Gloves:** 12 million pairs - **Knitted Gloves:** 2.8 million pairs - **PU Gloves:** 2.5 million pairs - **Safety Shoes:** 3 million pairs - **PVC Gumboots:** 100,000 units Mallcom is recognized as **India’s leading safety shoe manufacturer**, with a production capacity exceeding three million pairs annually—equipped for high-compliance industrial environments. --- ### **Strategic Expansions (Recent Developments)** #### **1. Sanand Facility (Gujarat)** - Began commercial production in **September 2025**. - Focus: **PU-dipped gloves, nitrile gloves, helmets, and eyewear**. - A **greenfield facility (Sanand-II)** is under development with a capital investment of up to ₹108 crores. - Projected revenue at full capacity: **₹100 crores by FY27**. - Incremental CAPEX of up to ₹10 crores planned for new machinery. #### **2. Chandipur & Ghatakpukur Expansions (West Bengal)** - **Phase 2 of Chandipur unit completed (Aug 2025):** 70,000 sq. ft. facility for safety shoes at CAPEX of ₹25 crores – now operational. - **Ghatakpukur Unit (Phase 2):** 50,000 sq. ft. facility for industrial safety shoes; CAPEX: ₹20 crores; targeted completion FY25. - Apparel production from Kolkata was seamlessly relocated to the expanded Ghatakpukur facility in FY24, enhancing operational efficiency. #### **3. New Product Lines & Domestic Substitution** - Developing **indigenous production for PU gloves, PVC gumboots, and advanced helmets** using **proprietary technology**. - Over **90% of PU gloves in India are imported** (mainly from China, Sri Lanka, Malaysia)—Mallcom is **pioneering large-scale local production** to reduce import dependency. - Strategic goal: **Substitute low-quality imports** with high-performance “Made in India” PPE. --- ### **Go-to-Market Strategy** #### **Sales Channels** - **White-label Manufacturing:** Supplies to global brands like **Honeywell, Bunzl, and PIP** in Europe, Americas, and ANZ. - **Branded Sales:** Operates in **India, Middle East, Southeast Asia, and Africa** under the "Mallcom" brand. - As of FY24, **branded sales increased to 41% of revenue** (from 36% in FY23) and targets **long-term 50-50 split between private-label and branded**. #### **Distribution Network** - **India:** ~70–80 distributors + in-house technical sales team. - **International:** Over 80 registered distributors; exports to more than **55 countries across six continents**. - Established **physical office in UAE (Aug 2025)** to strengthen presence in **Middle East & Africa (MEA)**. --- ### **R&D & Innovation** - Dedicated **R&D centers** driving continuous innovation. - Launches **a new product range every season**. - Developed a **versatile helmet formulation** certified under multiple global standards (EN, ANSI, BIS). - Focus on **ergonomic design, sustainable materials, and eco-friendly manufacturing**. - Achieved **ISO 14001 certification** for environmental management (Nov 2023). --- ### **Customer & Supply Chain Strength** - **Over 90% repeat order rate**, reflecting high customer loyalty. - Strong relationships with **institutional clients** in healthcare, construction, manufacturing, and logistics. - **Backward integration** in textiles, leather, rubber, and plastics reduces costs and enhances supply control. - **Captive test laboratories** ensure compliance with **EN, OSHA, NIOSH, ANSI, NFPA, and BIS** standards. - Holds **AEO-T1 status (CBIC)** and a long-term **ICRA credit rating of 'A' with stable outlook**. --- ### **Brand Building & Marketing** - Secured **IPR rights** to use **Chacha Chaudhary and Sabu** characters for safety awareness campaigns (May 2025). - Revamped **e-commerce platform (H1-FY25)** for B2B and B2C sales, ensuring product authenticity and list pricing. - Active digital engagement via **YouTube, Facebook**, and OTT platforms; outdoor campaigns in Tier 2 & 3 cities. - Plans collaboration with **healthcare providers, employers, and government agencies** to promote workplace safety. --- ### **Financial & Operational Highlights** - **Workforce:** Over **3,000 employees**, with **33–36% women**, highlighting strong ESG and workforce inclusivity. - **CAPEX Plans:** - ₹60 crores planned for FY25. - Fully funded through **internal accruals**; **no new debt planned**. - **Operating Margins:** Expected to remain stable at **14–15%**, supported by a **low fixed-cost model** with high variable cost flexibility. - **Working Capital Days:** Increased due to longer lead times for garments and import-dependent raw materials. - **Export Status:** Three-Star Export House for 34 consecutive years; exports to over 55 countries. - **Certifications:** ISO, SA, SEDEX, Fair Wear, and compliance with EU, US, and Indian standards. --- ### **Strategic Challenges & Responses** - **Chinese Dumping:** Facing competition from low-cost Chinese imports in masks, gloves, and workwear – countered by superior quality, domestic innovation, and anti-dumping advocacy. - **Raw Material Certification Delays:** Addressing domestic supply chain gaps by developing alternate Indian fabric sources. - **Global Demand Shifts:** Capitalizing on **post-pandemic supply chain diversification** and **US tariffs on Chinese PPE**. ---