20 February 2023, Mumbai

Welspun opened 1000 stores in the last quarter.

This has enhanced its store count to over 10,600. The target is to reach 50,000 stores by fiscal year 2026. The company plans to deepen its reach in the domestic market by tapping smaller cities through the franchise model. The company is managing retail through MDUs with a strong sales team which visits stores and tracks sales at MDUs using the latest technology. Welspun expects exports to bounce back by the end of the next fiscal after being hit by global recession in the last few months. The retailer had raised prices due to the high incidental cost and this led to a drop in demand but retail prices have started falling with easing raw material prices and logistics costs. The brand’s licencing pact with Walt Disney for Europe, the Middle East and Africa will add another portfolio besides providing extra shelf space at top retail outlets. The company’s margin was impacted by rising cotton, coal and container costs. However, cotton and container prices have started falling while coal prices continue to remain at elevated levels. The company plans fresh capex of Rs 200 crores in renewable energy to bring down costs besides another Rs 150 crores on maintenance capex.

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15 February 2023, Mumbai

Khadi is fast emerging as a new and lucrative start-up avenue in India.

The worth of khadi for entrepreneurship and industry is being realized. There has been a record sale of khadi products and also a manifold increase in export of khadi. The Khadi and Village Industries Commission distributed subsidies to beneficiaries and entrepreneurs spread across the north Indian states of Punjab, Himachal Pradesh, Haryana and Rajasthan and the union territories of J&K and Ladakh.

The Khadi and Village Industries Commission through its various programs is generating employment opportunities for artisans at their doorstep in remote areas at a very low cost. There has been a rise in the monthly income of artisans by around 33 per cent and by ten per cent for weavers.

Khadi garments and outfits have assumed the status of designer items and elite wear. Uttar Pradesh will provide financial assistance for opening khadi outlets. The subsidy will vary depending on the number of outlets being opened.

Those opening 50 khadi oulets will get a Rs 2 crore subsidy. Those opening 100 outlets will get a subsidy of up to Rs 4 crores. The subsidy will increase to Rs 8 crores for 200 or more outlets and Rs 10 crores for opening 500 outlets.

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02 March 2023, Mumbai 

India's largest branded textiles and apparel maker, Raymond, is aiming for high double-digit growth for the financial year 2023-24, according to the company's Group Chief Financial Officer, Amit Agarwal.

For the first nine months of the current fiscal year 2022-23, the company's consolidated revenue stood at Rs 6,145 crore, up 42 per cent from the same period in the previous year. Agarwal plans to continue reducing debt to make the company debt-free by 2025 through revenue growth and effective working capital management.

Agarwal is optimistic about the company's growth prospects, particularly in the branded textiles, branded apparel, and garmenting businesses, as well as in real estate and engineering. Raymond's order book is full until July, and Agarwal believes the company's long-standing relationships with customers, dealers, and franchise networks will help it achieve its growth targets.

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20 February 2023, Mumbai

For the third quarter Vishal Fabrics’ net profit fell by 38 per cent.

Revenue for the quarter was down by ten per cent as against the corresponding period of the previous fiscal year. Despite the drop in numbers, Vishal Fabrics is confident about the long-term growth prospects for the Indian textile sector as well its capacity to raise utilization levels and get back the revenue at normalcy. Vishal Fabrics has set a target of Rs 2,000 crore topline by the fiscal year 2024 and aims to achieve it through expansion in the domestic market coupled with exports in existing and new markets. Ahmedabad-based Vishal Fabrics is a flagship company of the Chiripal group. Vishal Fabrics caters to the premium and the super-premium end of the denim segment. The company is also expanding its overseas presence by adding new markets in Latin America and Europe. Vishal Fabrics has no plans to go into garments and apparels and will be confined to the B2B segment. The denim maker is also investing in the expansion of its current capacity to increase denim production. Although the short-term headwinds may continue, the company remains confident about the long-term growth prospects for the Indian textile sector as well as its capacity to raise utilization levels and get back the revenues at normalcy.

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14 February 2023, Mumbai

For the third quarter Bombay Dyeing’s consolidated net loss narrowed to Rs 106 crores as against a loss of Rs 233 crores in the year-ago period.

The company’s revenue for the quarter rose to Rs 652 crores as against Rs 526 crores posted in the corresponding period of the previous fiscal year.

The polyester division reported Rs 393 crores revenue in the third quarter compared to Rs 384 crores a year ago while revenue from retail operations declined to Rs 11 crores from Rs 13 crores.

Wadia flagship firm Bombay Dyeing is one of the largest textile manufacturers in the country and is one of the seven producers of polyester staple fiber in the country with a market share of about 15 per cent. The company produces a wide range of specialty products, including micro fibers, super micro fibers, trilobal, super high tenacity, optically white, optical white super high tenacity, micro super high tenacity, black and black super high tenacity. Bombay Dyeing enjoys a leadership position in south India in yarns. Spinning mills’ yarn for suitings and shirtings comes from Bombay Dyeing fiber.

The company offers fabrics, home textiles and value added products and has regional offices spread throughout India. It currently has 27 company-owned stores, 3,000 multi-brand stores, and over 400 franchise stores across India.

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 20 February 2023, Mumbai

For the third quarter Arvind Fashions’ net profit rose by 28 per cent.

Revenue for the quarter rose by 17 per cent as against the corresponding period of the previous fiscal year. Ebitda grew by nearly 30 per cent. With a sharp focus on execution and customer experience, the business delivered 12 per cent plus retail like-to-like sales growth during the quarter and record sell through. The company’s aim continues to be on improving profitability further and delivering a higher return on capital employed. Arvind Fashions is one of India’s leading players in the fashion segment with a portfolio of owned and licensed international brands including US Polo Association, Arrow, Flying Machine, Calvin Klein, Tommy Hilfiger, and beauty brand Sephora. Leading textile manufacturer Arvind offers the widest array of fashion brands in India. The bouquet of brands – both homegrown and global – straddles lifestyles, categories and price points. International fashion brands wanting to enter India are keen to partner with Arvind. The company’s revenue from the textiles segment contributes about 80 per cent of the company’s total revenue. Price realisations have started to trend down since the second quarter for Arvind Fashions reflecting the recent softness in raw material prices.

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Kamadgiri Fashion’s total income was Rs67.0782 crores during the period ended December 31, 2022, as compared to Rs 75.6812 crores during the period ended September 30, 2022. Net profit / loss wasRs 0.9569 crores for the period ended December 31, 2022, as against net profit / loss of Rs 0.4564 crores for the period ended September 30, 2022.EPS was Rs 1.63 for the period ended December 31, 2022, as compared to Rs 0.78 for the period ended September 30, 2022.

Total income was Rs67.0782 crores during the period ended December 31, 2022, as compared to Rs 72.9282 crores during the period ended December 31, 2021. Net profit / loss wasRs0.9569 crores for the period ended December 31, 2022, as against net profit / loss of Rs0.1568 crores for the period ended December 31, 2021.EPS was Rs1.63 for the period ended December 31, 2022, as compared to Rs0.27 for the period ended December 31, 2021. Total income was Rs212.4579 crores during the nine month period ended December 31, 2022, as compared to Rs182.6034 crores during the ninemonth period ended December 31, 2021. Net profit / loss wasRs1.2307 crores for the nine month period ended December 31, 2022, as against net profit / loss of Rs0.5918 crores for the nine month period ended December 31, 2021.EPS wasRs2.10 for the nine month period ended December 31, 2022, as compared to Rs1.01 for the nine month period ended December 31, 2021.

20 February 2023, Mumbai 

Color Jet has introduced a new series of printing solutions.

Earth is an advanced sustainable pigment printing solution in digital textile printing and minimises the consumption of water and energy. Earth pigment inks deliver excellent fastness properties and high printability sharpness by heat fixation comparable to the more complex processes for reactive, acid or direct disperse digital printing. These high-performance digital pigment inks work on an innovative binder technology for fast, sustainable and cost-competitive industrial textile printing on almost any type of fabric. The Earth series comes in three models, Kiloton, Purge Plus, and Osci Plus, with 32, 16 and eight inkjets powered by Konica Minolta print heads. Color Jet, the wide format digital printing technology leader, was founded in 1995. Color Jet’s digital textile machines are revolutionizing the world of textile printing with their robust performance, sustainable manufacturing, lowest downtime, high value, and return on investment. Color Jet offers an exclusive range of digital textile printers and has two manufacturing facilities and sales offices spread across seven countries, which include India, China, Bangladesh, UAE, and Sri Lanka. So far Color Jet has installed and implemented over 5,000 of its printing solutions and products across 450 cities around the world.

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