17 May 2023, Mumbai

The Odisha government will be hosting a roadshow in Bengaluru on May 17 and 18 to attract investment in the Textiles & Apparel sector.

The roadshow will be held at Taj West End, Bengaluru under the chairmanship of Chief Secretary Pradeep Jena. The two-day event will provide an opportunity to investors and business leaders to explore the offerings of the Odisha government in the Textile and Apparel Sector.

The state government has been making concerted efforts to attract investment in the sector and the roadshow is part of these efforts.

Odisha has a strong textile and apparel manufacturing base. The state is home to a number of textile mills and garment factories. The state government has also been promoting handloom and handicrafts. The roadshow is expected to attract a large number of investors and business leaders from Bengaluru and other parts of the country.

The state government has also been promoting handloom and handicrafts. The Textile and Apparel sector in Odisha has a lot of potential for growth. The state has a skilled workforce and a conducive environment for investment. The state government is also providing a number of incentives to attract investment in the sector.

Latest Textile Events

01 May 2023, Mumbai 

Sangam (India) Limited, has reported its consolidated financial results for the period ending March 31, 2023. The company's total income for the quarter stood at Rs. 690.14 crores, representing a 13.34% increase from the previous quarter's income of Rs. 608.89 crores. The net profit for the same period was reported to be Rs. 30.13 crores, marking a significant increase from the net profit of Rs. 17.55 crores reported in the previous quarter.

However, when compared year-over-year, Sangam (India) Limited's Q4 FY2023 financials reflect a decline. Total income for Q4 FY2023 was reported to be Rs. 690.14 crores, down from Rs. 737.31 crores for the same period in the previous year. The net profit for Q4 FY2023 was also reported to be lower at Rs. 30.13 crores compared to Rs. 53.44 crores for Q4 FY2022.

For the financial year ended March 31, 2023, the company's total income was reported to be Rs. 2729.44 crores, marking an increase of 11.64% from the previous financial year. However, the net profit for the financial year ended March 31, 2023, was lower at Rs. 130.54 crores compared to Rs. 139.94 crores for the previous financial year.

Latest Textile Events

23 May 2023, Mumbai   

Donear Industries Limited has released its standalone financial results for the period ending March 31, 2023.

The company witnessed a slight quarter-to-quarter increase in total income to Rs. 215.6440 crores, while the net profit declined to Rs. 8.5283 crores.

Total Income Shows Slight Increase

In a year-on-year comparison, Donear Industries showed significant growth in total income for the fourth quarter, reaching Rs. 215.6440 crores. However, the net profit declined to Rs. 8.5283 crores.

For the full financial year, the company reported a substantial rise in total income to Rs. 835.8223 crores and a net profit of Rs. 36.24 crores.

Latest Textile Events

 16 May 2023, Mumbai 

Arvind, the textile company, has opened 'The Arvind Store' in Bengaluru. The opening of this store marks the expansion of Arvind's presence in Karnataka, bringing the total number of Arvind stores in the state to 15.

What all you need to know

The sprawling 4410 sq. ft. store showcases a diverse range of top fashion brands, offering customers a comprehensive shopping experience.

The highlight of 'The Arvind Store' is its exclusive Ready-To-Wear collection, featuring a curated selection of versatile and stylish products. This collection caters not only to everyday work and leisure wear but also includes an exquisite range of ceremonial attire.

In addition to Arvind's own fabric offerings, the store also houses renowned retail brands such as the US POLO Association, Primante, Tresca, and Fabric of Arvind. Customers visiting the store can also take advantage of custom tailoring services, according to their sizeBrand, fit, and preferences for buttons, rivets, labels, thread colors, and even their own initials.

'The Arvind Store' strives to redefine the shopping experience by seamlessly integrating fabric and ready-made garments for its customers.

Latest Textile Events

29 April 2023, Mumbai 

Welspun India Ltd has reported a notable surge in its net profit for the fourth quarter ended March 2023. The company recorded a 140% increase in net profit to Rs 125 crore, as compared to Rs 52 crore reported in the corresponding period of the previous fiscal year. However, the company's revenue for the quarter decreased by 2% to Rs 2,195 crore, from Rs 2,247 crore reported in the year-ago period.

Welspun, which is a leading player in the global textile industry, is a vertically integrated home textile manufacturer, producing a range of products including bed sheets, bath towels, rugs, carpets, and more, and catering to several international retailers and brands. The company has a strong focus on both domestic business growth and expanding its global footprint. It exports to over 50 countries, with a strong presence in the US and European markets.

Despite challenges posed by high input costs and a demand slowdown in key global markets, the company's strong financial performance in Q4FY23 can be attributed to its continuous efforts to innovate through value engineering and cost rationalisation across the board. The domestic consumer business, in particular, continued to show impressive growth, with a 31% increase in FY23. The company remains committed to investing in the domestic business to further strengthen its industry-leading position.

Welspun India Ltd's strong financial performance highlights its position as a key player in the global textiles industry, with a diversified product portfolio and a strong focus on innovation and cost optimisation.

Latest Textile Events

18 May 2023, Mumbai  

Siyaram Silk Mills Ltd, a leading player in the menswear fabrics and garments market, achieved remarkable financial results for the fiscal year 2022-2023. The company reported a total income of Rs 2,273 crore, with a net profit of Rs 251 crore.

During the fourth quarter ending on March 31, Siyaram Silk Mills witnessed a notable growth in net profit, which reached Rs 88 crore, marking a 7 percent increase compared to the same period last year when it stood at Rs 82 crore. Moreover, the company's total income for the quarter experienced a growth of 10 percent, reaching Rs 706 crore, up from Rs 640 crore in the previous fiscal year.

The success of Siyaram Silk Mills can be attributed to its strong foothold in the suiting and shirting segment of the menswear market.

Not only does the company offer popular brands like Mistair, Royale Linen, Moretti, Miniature, Unicode, J Hampstead, and Oxemberg, but it also holds the exclusive rights for the prestigious Italian fashion brand, Cadini, in the Indian market.

The consistent growth and profitability of Siyaram Silk Mills reflect its ability to meet the changing preferences of Indian consumers in the menswear segment.

Latest Textile Events

 04 May 2023, Mumbai 

The Indian government is gearing up to map out key areas across the country using the Gati Shakti-National Master Plan. These areas include startup incubators, beneficiaries of production-linked incentive schemes, mega integrated textile regions and apparel parks, and fair price shops. This mapping exercise is expected to aid data consistency, better planning, and prevent time and cost overruns for infrastructure projects.

The mapping of startup incubators is particularly noteworthy as India has the world's third-largest startup ecosystem, boasting over 50,000 startups in the country as of 2020. Meanwhile, the production-linked incentive (PLI) scheme is poised to enhance the growth of various industries in India, including textiles, by providing incentives to companies for incremental sales.

The Gati Shakti-National Master Plan represents a crucial step towards developing integrated infrastructure in India, which is crucial for the country's economic growth. According to a report by the Confederation of Indian Industry, India's logistics costs currently account for around 13-14% of the country's GDP, while the global average is around 8-10%. Through the mapping of key areas and the development of integrated infrastructure, the government hopes to reduce logistics costs and improve the overall competitiveness of Indian industries.

The mapping exercise has integrated approximately 20 ministries and 36 states and union territories, and has already mapped out 200 projects at the state level.

This initiative is expected to play a vital role in driving India's infrastructure development and positioning the country as a global leader in various industries.

Latest Textile Events