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Textile 18-06-2023

Textile sector set for revival

17 June 2023, Mumbai

After a challenging year of sluggish demand, excessive inventory, limited supplies, and soaring cotton prices, the textile industry is set to bounce back.

What all you need to know

Challenging year Spurs resurgence

Experts predict a resurgence in demand, particularly in the third quarter of FY24, as global retailers reduce stockpiles and place orders for the upcoming Summer/Spring 2024 collections.

Demand on the rise

Favorable market conditions, coupled with geopolitical uncertainties faced by competitor nations, are expected to inject vitality into the sector.

As a result, textile players are anticipated to witness consistent earnings growth and improved cash flows.

Having completed their capital expenditure, companies will now focus on strengthening their balance sheets and enhancing return ratios.

Favorable conditions bring vitality

Moreover, the decline in cotton and crude prices will bolster profit margins and enhance India's competitiveness in export markets. The industry has already gained market share in crucial export markets for garments and home textiles. Focus on strengthening

The potential for a UK free trade agreement and the China+1 strategy further augments the sector's prospects for improving earnings and multiples.

Additional opportunities; Sharekhan has upgraded its outlook on the textile sector to 'positive,' recommending Gokaldas Exports, KPR Mill, Himatsingka Seide, and SP Apparels as preferred picks.

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Textile 18-06-2023

Birla SaFR: Revolutionary Flame-Retardant Fibre

12 June 2023, Mumbai

Birla Cellulose, a unit of Grasim Industries Limited and part of the Aditya Birla Group, proudly unveils its latest innovation, Birla SaFR, at ITMA 2023 in Milan, Italy.

This groundbreaking product signifies a major milestone in Birla Cellulose's strategic vision to provide cutting-edge solutions for the technical textile industry.

What all you need to know

Innovative, Sustainable, and Eco-Friendly

Birla SaFR is a phosphate-based, inherently flame-retardant, sustainable cellulosic fibre that excels in producing flame-retardant fabrics, thanks to its exceptional performance and environmentally friendly characteristics.

On June 10th, Birla SaFR was launched at ITMA Milan by the Honorable Minister of State for Textiles (India), Mrs. Darshana Vikram Jardosh, in the presence of Secretary (Textiles), Mrs. Rachna Shah, H.K Agarwal, Managing Director of Grasim Industries Ltd, and ManMohan Singh, Chief Marketing Officer of Birla Cellulose.

Birla Cellulose Introduces Birla SaFR

This revolutionary breakthrough establishes Birla Cellulose as a leading innovator in sustainable textiles, setting a new standard for flame-retardant fibres.

Crafted with meticulous precision, Birla SaFR is the result of extensive research and development, driven by a deep understanding of industry needs. This remarkable achievement showcases Birla Cellulose's dedication to innovation and its commitment to delivering products that transform the textile industry.

Marks a Significant Advancement in Birla Cellulose's Vision for Technical Textiles

H.K Agarwal, Managing Director of Grasim Industries Ltd and Business Director of Pulp & Fibre Business, expressed his pride in this groundbreaking accomplishment, stating, "Birla SaFR is the first flame-retardant fibre developed in India specifically for the technical textile segment.

We take immense pride in knowing that our product will be used in various categories of protective wear, ultimately safeguarding lives."

Birla SaFR can be blended with other high-performance fibres such as aramid, FR mod acrylic, and FR polyester, to create a diverse range of protective clothing solutions.

This cutting-edge fibre offers enhanced protection against various heat-related hazards while ensuring optimal comfort for the wearer without compromising on the garment's fire protection standard, thus enhancing the user experience.

Birla SaFR will be the ideal choice for industries requiring the highest fire protection standards, including thermal protection, electric arc protection, and molten metal splash protection.

It caters to the unique needs of sectors such as defence, emergency response (ER), oil & gas, electrical utility companies, and various manufacturing industries. Birla SaFR has an Oxygen Limiting Factor (OLF) greater than 28 and sustains its flame retardant efficacy even after multiple washes (over 50 washes) as tested and verified by third-party agencies.

Make in India

Commenting on the launch of Birla SaFR at ITMA 2023, ManMohan Singh, Chief Marketing Officer, expressed, "It is a significant milestone and a proud moment for Birla Cellulose and the Aditya Birla Group, as Birla SaFR fibre is developed indigenously, providing an alternative to imported flame retardant fibre. It aligns with the 'Made in India' initiative and is poised to make a lasting impact on the global textile industry."

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Textile 13-06-2023

TEXTILE FAIRS INDIA

02 June 2023, Mumbai

SUMMIT to happen on 6, 7, and 8 July 2023 in Pragati Maidan, New Delhi.

Textile Fairs India has emerged as a prominent hub for both Indian and international manufacturers to showcase their cutting-edge innovations.

Boasting nearly 20 years of experience in facilitating fruitful collaborations between exhibitors and buyers, TFI has established itself as a highly reliable platform.

Exhibitors trust TFI to enhance their visibility, establish brand identity, and broaden their customer reach, thereby fostering business growth through the exploration of new avenues and forging valuable connections.

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Textile 02-06-2023

Birla Cellulose Collaborates with TextileGenesis for Sustainable Fashion

24 May 2023, Mumbai

Birla Cellulose, a leading producer of sustainable Man-Made Cellulosic Fibres (MMCF), has partnered with TextileGenesis to enhance fibre traceability and promote sustainability in the fashion industry.

Integration of Tracer-Enabled Sustainable Fibres with Blockchain Technology Sets New Standards in Transparency and Environmental Responsibility

Birla Cellulose's tracer-enabled sustainable fibres are integrated with TextileGenesis' blockchain-based traceability platform. This collaboration allows for transparency from fibre to garment, meeting the increasing demand for sustainable and traceable fashion.

Birla Cellulose's commitment to transparency and sustainability is evident through its achievements in conserving forests and promoting circular business models. With plans to expand the collaboration, the partnership aims to deliver transparency solutions, strengthen connections with brands and consumers, and contribute to the industry's focus on environmental sustainability.

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Textile 25-05-2023

UP Government Establishes Textile Park, Employing 1 Lakh Youth

09 June 2023, Mumbai

The Uttar Pradesh government is initiating the PM Mitra Mega Textile and Apparel Park in Lucknow, aligning with Prime Minister Narendra Modi's 5F vision.

Integrated textile hub in Lucknow attracts massive investment

The park, situated in Atari village, Malihabad tehsil, aims to provide job opportunities for one lakh young individuals. With identified land and an anticipated investment of Rs 10,000 crores, the textile park is poised for success.

The park's primary goal is to centralize the textile industry's operations, reducing production costs. Atari was selected for its excellent connectivity, being conveniently located 20 kilometers away from NH-20 and SH-20, connecting Lucknow to Sitapur and Hardoi respectively.

Proximity to Malihabad and Lucknow railway stations, Lucknow International Airport, a dedicated freight corridor in Kanpur, and an inland container depot in Kanpur further enhance its appeal.

Offering streamlined production and strategic connectivity

This public-private partnership (PPP) modeled park will encompass core infrastructure worth Rs. 500 crores, enabling manufacturing units to establish their presence with a provision of Rs. 300 crores.

The construction will occur in three phases, emphasizing common infrastructure, social infrastructure, and premium space, including essential amenities such as power supply, water supply, training centers, housing zones, medical facilities, and industrial plots.

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Textile 09-06-2023

Maharashtra's Textile Policy: Cotton Boost, Job Creation, and Heritage Protection

02 June 2023, Mumbai

Maharashtra, a key cotton-producing state in India, is taking significant steps to enhance its textile value chain by focusing on cotton processing. The policy aims to generate huge job opportunities.

With the implementation of a new state textile policy, Maharashtra aims to attract an investment of ₹25,000 crore and generate 500,000 jobs by 2028. The policy includes the establishment of the Maharashtra State Textile Parks will drive industry development.

Textile Development Corporation (MSTDC) and the creation of six textile parks. It also emphasizes the preservation of indigenous textiles like Paithani, Himru, Karvat Kathi, Khana, and Ghongadi.

Financial assistance

Financial assistance will be provided to traditional artisans, with female weavers receiving ₹15,000 and male weavers ₹10,000 annually.

Additionally, the government plans to distribute a free saree each year to families below the poverty line (BPL) in the state. Maharashtra's ambition is to transform the cotton value chain from farm to fibre to factory to fashion to foreign markets, elevating the state's position as a textile hub.

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Textile 02-06-2023

Maharashtra's Textile Policy: Cotton Boost, Job Creation, and Heritage Protection

Donear reports for FY2023

23 May 2023, Mumbai

DonearIndustries 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.

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Textile 23-05-2023

Archroma & COLOURizd™ Partner to Revolutionize Sustainable Textile Production

08 June 2023, Mumbai

Archroma and COLOURizd™ have joined forces to revolutionize sustainable textile production.

New standards for eco-friendly textile manufacturing

By combining Archroma's pigment coloration solutions with COLOURizd™ QuantumCOLOUR™ yarn-coloring technology, they aim to create high-quality, high-performance textiles that appeal to consumers while minimizing environmental impact.

Joaquin Femat, Director of the Printing Market Segment at Archroma's Textile Effects Division, highlights their commitment to safe, efficient, and enhanced sustainable solutions. Jennifer Thompson, CEO of COLOURizd™, shares the vision of a future where fashion is accessible, affordable, and sustainable.

An Eye on Sustainability

The innovative QuantumCOLOUR™ process transforms yarn coloration, using only 0.95 liters of water per kilogram of colored yarn. This represents a remarkable 98% reduction in water consumption and zero wastewater discharge. Furthermore, it decreases the carbon footprint by 73% and reduces energy use by 50%.

Archroma offers tailored system solutions, such as JUST COLOR, to enhance the QuantumCOLOUR™ process.

USP

JUST COLOR is a formaldehyde-free pigment coloration system that delivers soft fabrics with durability while enabling energy and chemical savings and increasing productivity. Together, Archroma and COLOURizd™ are reshaping the landscape of sustainable textile manufacturing.

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Textile 08-06-2023

Dollar Industries Q4FY23 results

02 June 2023, Mumbai

Dollar Industries Ltd, a prominent player in the innerwear and athleisure segment, experienced a significant setback in net profit for the fourth quarter that ended March 2023.

Amidst Volatile Raw Material Prices

With a staggering 90 percent decline to Rs 4 crore compared to Rs 37 crore in the same quarter last year, the company faced challenges due to volatile raw material prices and a cyclical slowdown, resulting in reduced margins.

Outlook bullish

Despite the setback, Dollar Industries remains optimistic about the future, highlighting the potential for increased demand and controlled raw material prices in the upcoming fiscal year, which is expected to support margin maintenance. The company's strategic focus on expanding its distribution network, strengthening its product portfolio, and maintaining a robust supply chain will contribute to its recovery.

In the last fiscal year, Dollar Industries successfully opened 14 exclusive brand outlets across the country, catering to consumer demand and driving sales.

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Textile 02-06-2023

Donear reports for FY2023

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.

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Textile 23-05-2023

EPCH: Dileep Baid Assumes Chairmanship

05 June 2023, Mumbai

Dileep Baid has taken on the role of Chairman of the Export Promotion Council for Handicrafts (EPCH), succeeding Raj Kumar Malhotra during the 183rd Committee of Administration (CoA) meeting in Jaipur.

EPCH serves as the central agency for promoting handicraft exports from India, with exports reaching Rs. 29,426.38 crores and US $ 3583.52 million in the 2022-23 fiscal year.

Experience is the key

As the head of Dileep Trading Corporation, a prominent handicrafts exporter in northern India for over 30 years, Dileep is a first-generation entrepreneur. Expressing his gratitude for the confidence placed in him, he stressed the need for emerging trends and design intervention in the handicraft sector.

This includes product development, innovative packaging, brand building, improved productivity, enhanced quality and standards, sustainable practices, and compliance, all aimed at increasing the competitiveness of Indian handicrafts in the global market.

Aspirational

Dileep has set an ambitious target to increase handicraft exports by 30 times by 2030, known as the "Teen Guna Tees Tak" goal.

Handicrafts Vision-2030

EPCH has also organized a symposium on 'Handicrafts Vision-2030' to facilitate dialogue among member exporters, addressing challenges, identifying growth opportunities, exploring emerging trends and technologies, enhancing market competitiveness, promoting sustainable practices, and fostering collaborative networking partnerships.

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Textile 05-06-2023

Donear Group Elevates Men's Fashion at Fashion Connoisseur's Conclave

01 June 2023, Mumbai

Donear Group, India's leading textile manufacturer, showcased its internationally-acclaimed product range at the prestigious Fashion Connoisseur's Conclave 2023 in the National Capital Region (NCR).

The event marked a significant milestone in the men's fashion industry, as Donear Group aimed to take the fashion experience to new heights.

The exclusive showcase featured the group's iconic brands, captivating the audience of fashion enthusiasts and connoisseurs from the textiles and fashion industry. Among the standout brands were Ferrara, known for Italian luxury and premium suiting fabrics, and Moda Biella, which blended traditional craftsmanship with contemporary designs.

Lanificio Corleone mesmerized the audience with its masterfully crafted woolen fabrics, while OCM celebrated versatility and style with a remarkable collection. Ferrino Mizzoni reflected sophistication and impeccable tailoring, and Eurico exuded refinement and exclusivity with its 100% Giza-cotton suiting.

Rajendra Agarwal, Managing Director of Donear Industries Limited, emphasized the group's commitment to excellence and innovation, showcasing a diverse range of fabrics catering to the discerning tastes of fashion connoisseurs. The event demonstrated the Donear Group's impact on the fashion landscape of India and the world.

The group also showcased its technological advancements, including a revolutionary mobile application developed in collaboration with Whizleague. This app equips front-end salespeople with in-depth learning experiences, unlocking their potential and enhancing the retail customer's purchase journey.

With its vertical integration in various sectors, including garment manufacturing, yarn spinning, and fabric processing, the Donear Group maintains control over the production process, ensuring consistent quality across its product range.

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Textile 01-06-2023