TCNS is in the process of closing its export business. With around 2,000 sewing machines and an annual turnover of Rs. 150 crore, the Noida-based company is working with prestigious brands and retailers like Next, Walmart and Monoprix, among others.
The company recently declared that its reported Q4 revenues had declined to Rs 219 crore from Rs 291 crore for Q4 last year. From the second week of March, the company’s partners stopped taking deliveries due to COVID disruptions. Between B2B and B2C, it lost an estimated Rs. 103 crore in revenue. The company has also closed its Bangladesh operations too.
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