14 August 2023, Mumbai

TT Limited: A Journey from Fiber to Fashion

• Legacy and Evolution

TT Limited is a leading apparel manufacturer with a rich legacy of 45 years. The company has consistently adapted its production locations to leverage competitive advantages across clusters.

In the 1990s, TT Limited established a spinning unit in Gajraula, Uttar Pradesh. The unit was later transformed into a garmenting center after the company divested its spinning assets.

Today, TT Limited is strategically shifting towards the Noida/Pilkhuva cluster in Uttar Pradesh and the Greater Kolkata, West Bengal area. These locations are home to established garment hubs with skilled labor and other benefits.

• New investments and expansion plans

TT Limited has already begun work on new garments units in Noida/Pilkhuva and Greater Kolkata. The company also plans to expand its Tirupur unit by 2024-25, which would double its capacity.

In addition to these investments, TT Limited's Managing Director, Shri Sanjay Jain, has inked an MoU with the Uttar Pradesh government for a textile unit under the PM Mitra Scheme in Hardoi District. The company also plans to build a fabric manufacturing unit in Surat, aligned with the Textile Ministry PLI2 scheme.

• Restructuring to boost profitability

TT Limited's board has approved the transfer of ownership of its Gajraula unit. This move is expected to boost profitability by reducing debt and stemming interest outflows. The restructuring is targeted for completion by March 2024, and it aims to reduce debt by 74% from pre-COVID levels.

• Focus on value-added segments

Despite global challenges stemming from the Ukraine war and demand recession, TT Limited is confident of maintaining a positive trend. The company is focusing on value-added branded segments and efficient infrastructure utilization.

• Revitalization of yarn, fabric, and export business

TT Limited is also revitalizing its yarn, fabric, and export business, which has been impacted by various factors including COVID, geopolitical tensions, and price fluctuations.

India's robust GDP growth and substantial population have strengthened the Textile Industry's resilience against global headwinds.

Overall, TT Limited is a leading apparel manufacturer with a rich legacy and a bright future. The company is committed to innovation and growth, and it is well-positioned to succeed in the years to come.

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19 August 2023, Mumbai

TCNS Clothing Ltd witnessed its Q1 net loss expand to Rs 37 crore ($4.5 million) for the quarter ending June 30, compared to a net loss of Rs 2 crore in the prior year's corresponding period.

Revenue dips, market challenges persist

The company's quarterly revenue dipped by 12 percent to Rs 244 crore, contrasting with the previous fiscal year's Rs 276 crore.

Market conditions impact performance

TCNS attributed the loss to "subdued market conditions" that persisted throughout the quarter, particularly affecting tier 2, 3 cities, and beyond.

Mixed store growth and online surge

While adding 2 net stores during the quarter, TCNS experienced a 56 percent YoY growth in online sales, driven by gradual model stabilization.

TCNS Clothing's diverse portfolio

As a prominent player in India's womenswear segment, TCNS Clothing manages brands like W, Wishful, Aurelia, and Elleven. The group maintains a broad market presence through its extensive network, spanning 4000+ sales points across omnichannel and partnerships with offline and online retailers.

Latest Textile Events

TT Limited: A journey from Fiber to Fashion

• Legacy and evolution

TT Limited is a leading apparel manufacturer with a rich legacy of 45 years. The company has consistently adapted its production locations to leverage competitive advantages across clusters.

In the 1990s, TT Limited established a spinning unit in Gajraula, Uttar Pradesh. The unit was later transformed into a garmenting center after the company divested its spinning assets.

Today, TT Limited is strategically shifting towards the Noida/Pilkhuva cluster in Uttar Pradesh and the Greater Kolkata, West Bengal area. These locations are home to established garmenting hubs with skilled labor and other benefits.

• New investments and expansion plans

TT Limited has already begun work on new garmenting units in Noida/Pilkhuva and Greater Kolkata. The company also plans to expand its Tirupur unit by 2024-25, which would double its capacity.

In addition to these investments, TT Limited's Managing Director, Shri Sanjay Jain, has inked an MoU with the Uttar Pradesh government for a textile unit under the PM Mitra Scheme in Hardoi District. The company also plans to build a fabric manufacturing unit in Surat, aligned with the Textile Ministry PLI2 scheme.

• Restructuring to boost profitability

TT Limited's board has approved the transfer of ownership of its Gajraula unit. This move is expected to boost profitability by reducing debt and stemming interest outflows. The restructuring is targeted for completion by March 2024, and it aims to reduce debt by 74% from pre-COVID levels.

• Focus on value-added segments

Despite global challenges stemming from the Ukraine war and demand recession, TT Limited is confident of maintaining a positive trend. The company is focusing on value-added branded segments and efficient infrastructure utilization.

• Revitalization of yarn, fabric, and export business

TT Limited is also revitalizing its yarn, fabric, and export business, which have been impacted by various factors including COVID, geopolitical tensions, and price fluctuations. India's robust GDP growth and substantial population have strengthened the Textile Industry's resilience against global headwinds.

Overall, TT Limited is a leading apparel manufacturer with a rich legacy and a bright future. The company is committed to innovation and growth, and it is well-positioned to succeed in the years to come.

19 August 2023, Mumbai

India's Go Fashion, proprietor of the popular women's wear label 'Go Colors', is planning to expand its retail footprint to sustain its recent growth surge. The firm, headquartered in Chennai, is currently established in 143 cities with 630 exclusive brand outlets.

The management is pleased with the progress made by Go Colors in the last year having strengthened its brand presence and are confident of sustaining this growth momentum in the coming years.

D2C

The company plans to fortify its Direct-to-Consumer Channel, utilizing its own managed brand outlets to market products. It will also focus on expanding its presence in tier II and III cities.

The strategic widening of the brand's retail reach and the introduction of new products contributed to significant revenue growth.

Financials

The company's financials reflect this successful trajectory, with a 29 percent revenue increase from INR 189 crore (FY 2017-18) to INR 665 crore (FY 2022-23) and a 43 percent rise in EBITDA to INR 212 crore (FY 2022-23) from INR 36 crore (FY 2017-18).

The expansion of Go Fashion's retail footprint is a positive development for the Indian women's wear market. It will provide more consumers with access to the brand's products and services, and it will help to boost the overall growth of the market.

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Zodiac Clothing Company Limited released its consolidated financial results for the period ending June 30, 2023.

Quarterly Financial Performance (QoQ)

The company's total income for the quarter stood at Rs. 34.9457 crores, declining from Rs. 46.0892 crores in the previous quarter.

Net profit/(loss) was reported at Rs. -9.1608 crores, contrasting with the previous quarter's net profit/(loss) of Rs. 33.3671 crores.

Earnings Per Share (EPS) for the quarter was Rs. -3.52, down from Rs. 13.40 in the previous quarter.

Yearly Financial Performance (YoY)

Comparing year-on-year results, the company's total income was Rs. 34.9457 crores, down from Rs. 42.4793 crores in the same period last year.

Net profit/(loss) for the quarter was Rs. -9.1608 crores, compared to a net profit/(loss) of Rs. -6.7883 crores in the same period last year.

The reported EPS was Rs. -3.52, compared to Rs. -2.74 in the same period last year.

18 August 2023, Mumbai

With its vibrant colors and timeless elegance, Paisley celebrates diversity and allows you to express your unique style.

Paisley has multiple EBOs (Exclusive Brand Outlets) across North India. This is a testament to the brand's popularity and appeal.

Paislei's designs are inspired by the rich heritage and culture of India. The brand uses traditional Indian techniques and fabrics to create modern, stylish clothing.

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