Indian Spinners in Slump, Revenue & Profits Tumble


13 December 2023, Mumbai

Lower yarn demand, high cotton costs, and depressed prices pummel profits for major cotton spinning firms.

CRISIL Ratings predicts a 13–15% revenue drop and a 250–300 basis point profit decline, with margins at record lows.

Despite the gloom, CRISIL maintains their financial stability.

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