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.

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 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.

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 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.

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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.

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26 April 2023, Mumbai 

Chennai's cherished brand, Sundari Silks, celebrated the grand opening of their new flagship store in Vile Parle, Mumbai, in the presence of Bollywood actress Esha Deol.

What all you need to know

The actress, looking stunning in a pink Kanjivaram saree from Sundari Silks, cut the ribbon, marking the beginning of a new chapter for the renowned South Indian brand.

The new Sundari Silks store in Vile Parle offers a more expansive and immersive shopping experience to its customers. The standalone showroom, with its warm Chettinad welcome and ambiance reflecting Indian heritage, is a testament to the brand's commitment to preserving and promoting the country's diverse weaving traditions.

The store houses a vast collection of weaves from different regions of India, including Kanjivarams from Tamil Nadu and Pashminas from Kashmir. Sundari Silks caters to the whole family, offering readymade shirts, kurtas, and dhotis for men, ethnic pattu pavadais and frocks for girls, and salwar fabrics and readymade kurta sets for women.

Mr. Manmohan, Managing Partner at Sundari Silks, expressed his pride in the brand's legacy as it reaches this new milestone. He said, "Sundari Silks is more than a brand; it's a celebration of India's rich textile heritage.

Over the past 80 years, we've woven together tradition and innovation to create a tapestry of unique, handcrafted pieces.

Each saree tells a story, a testament to the skilled artisans who pour their heart and soul into every creation. As we open our new store in Mumbai, we invite you to experience the colors, textures, and stories of India, wrapped in the warmth of our cherished Sundari Silks."

Sundari Silks is well-known for its exceptional service and personal connection with customers.

The brand's commitment to authenticity, quality, and innovation has made it a beloved name in the textile industry. With its own weaving units in Tamil Nadu, Sundari Silks ensures originality and uncompromised craftsmanship in every piece.

Experience the rich heritage of Indian textiles and create lasting memories at the newly opened Sundari Silks store in Vile Parle, Mumbai.

About Sundari Silks:

Established to preserve the country’s diverse weaving heritage, Sundari Silks has crafted a legacy in the textile industry. This is visible through their authentic collection of weaves imbued

with their unparalleled artistry and craftsmanship. They have their own weaving units in Tamil Nadu, ensuring the originality and uncompromised quality of fabric and artistry.

Being a brand that carries the pride of heritage, they have constantly put forth notable innovations that have elevated and influenced the significance of our traditional attire.

Once a Sundari, Always a Sundari

Sundari Silks has always been recognized for its exceptional service, leaving everyone a personal connection with the store. They make you feel welcome and are quick to understand your requirements and serve you with the best choices.

Stand out from the crowd with a wardrobe full of authentic and premium collections. Walk into the newly opened Sundari Silks at Vile Parle and take away treasured collections and a remarkable shopping experience.

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 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.

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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.

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