10 February 2022, Mumbai:

Confederation of Indian Industry (CII) in partnership with the Ministry of Textiles is organising the International Conference on Technical Textiles - Creating the Winning Leap in Technical Textiles on 12 March 2022 over the virtual platform.

The digital conference will focus on Geo Textiles, Agro Textiles, Specialty Fibres, Protective Textiles, Sports Textiles, Smart Textiles, and Medical Textiles in sync with the National Technical Textiles Mission (NTTM) through parallel sectoral sessions.

 READ MORE: NATIONAL TECHNICAL TEXTILES (NTT) MISSION: 20 Projects Get approval

The Conference will deliberate on key areas like Market Development, Boosting Demand, Export Promotion, Research, Innovation and Development (RID) and Education, Training and Skill Development of the Technical Textiles Sector. 

The parallel sectoral session of the conference will emphasize on the applications, identification of technology gaps that needs to be addressed for the growth of the Indian Technical Textiles sectors through Government-Industry and Academia partnership apart from policy recommendations to the Government of India.

Shri Piyush Goyal, Hon’ble Minister of Commerce & Industry, Textiles and Consumer Affairs & Food & Public Distribution, Government of India has kindly agreed to address and interact with the industry leaders, experts and participants at the conference.

The Conference would bring together Industry leaders, experts, key stakeholders and policy makers from various user Ministries to discuss and deliberate upon the evolving scenario in technical textiles manufacturing in India and also exchange ideas and global views on the future growth and development of the sectors.

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06 February 2022, Mumbai:

The company has posted net profit / (loss) of Rs. 0.8823 crores for the period ended December 31, 2021 as against net profit / (loss) of Rs. 1.3567 crores for the period ended September 30, 2021.

The company has reported EPS of Rs. 0.91 for the period ended December 31, 2021 as compared to Rs. 1.41 for the period ended September 30, 2021.

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*Figures mentioned in the above article have been sourced from Equity Bulls & Money Control article. 

10 February 2022, Mumbai:

The Ministry of Textiles (MoT) wants garments and made-ups to be included in the early harvest agreement being negotiated between India and the United Kingdom as a prelude to a full-fledged Free Trade Agreement (FTA).

It's worth noting that clothing exporters from Bangladesh, Vietnam, and Pakistan benefit from a tariff advantage of roughly 10% to 11% thanks to specific programmes that they qualify for.

If India and the United Kingdom agree on tariff reductions, Indian exporters' competitiveness will skyrocket. According to a report in the top business daily, BusinessLine, the Ministry of Transportation has advised the Commerce Ministry to focus on having garments included in the early harvest programme being discussed with the United Kingdom. 

ALSO READ: RBI article: To push Indian apparel exports, pursue FTAs

In the UK market, there is a big opportunity for the garment business. On the other hand, India's textile imports from the United Kingdom are quite low, and the local sector will not be harmed if taxes are reduced on the Indian side as well.

According to official figures, the overall import of garments in the UK in 2019 was the US $24.9 billion, with India accounting for just US $1.4 billion and Bangladesh accounting for the US $3.6 billion.

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*Figures mentioned in the above article have been sourced from Business Line & Apparel Resources article. 

08 February 2022, Mumbai:

From January 2022 through December 2024, Huntsman, a global manufacturer and marketer of specialized chemicals, has kept the highly regarded Responsible Care® certification.

The business stated in a statement that this accreditation is awarded following a thorough examination by industry professionals and examiners.

Huntsman India will be able to use the Responsible Care mark until 2024 and will be included in the Indian Chemical Council's (ICC) accreditation list for production and distribution activities in India.

"It is gratifying to earn this highly-coveted accolade from ICC," said Rahul Tikoo, MD, Huntsman Corporation's South Asia Region.

And it's a monument to our team's ability to be flexible and push the boundaries of what's possible in order to safeguard our people, communities, and environment while working toward our 2030 Sustainability Goals. This is one of several milestones in Huntsman's efforts to develop world-class sustainable manufacturing operations.``

Huntsman Corporation is a founding member of Responsible Care, the industry's performance programme for environmental, health, safety, and security. This initiative assists member organizations in improving employee safety, supporting local communities, and protecting the environment while also improving performance.

"At Huntsman, we consistently aim to enhance our operations as per the guiding principles of Responsible Care," stated Kamlesh Kushalkar, Head Corporate EHS, Huntsman International.

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*Figures mentioned in the above article have been sourced from Polymer Update article. 

06 February 2022, Mumbai:

KPR Mill reported a 35.5% rise in consolidated net profit to Rs 211.77 crore on a 35.59% increase in revenue from operations to Rs 1260.48 crore in Q3 FY22 over Q3 FY21.

Profit before tax jumped by 29.8% to Rs 283.2 crore in Q3 FY22 from Rs 218.2 crore posted in Q3 FY21. Total expenses surged 39% to Rs 1002.65 crore in Q3 FY22 as compared to Rs 721.3 crore reported in the same quarter last year.

Meanwhile, the company's board announced a buyback of 22,36,000 equity shares, for an aggregate amount not exceeding Rs 179.99 crore.

The total buyback shares represent 9.53% of the total paid-up equity capital of the company. The buyback is proposed to be made at a price of Rs 805 per share. The buyback price is 16.72% premium to the current traded price.

 

As on 4 February 2022, promoters held 74.72% stake in the company.

About KPR Mill

KPR brings in the finest range of 100% organic inner wear and athleisure wear for the Indian market under the brand name FASO. Our three decades of garmenting excellence as well as passion for quality fashion garments has helped us to achieve a distinctive style and comfort wear in the inner garments.

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*Figures mentioned in the above article have been sourced from Business Standard & Money Control article. 

09 February 2022, Mumbai:

Shares of Indo Count Industries hit an eight-month low, down 4 per cent at Rs 204 on the BSE in Wednesday’s intra-day trade, falling 14 per cent in the past three trading days after the company's PAT declined 23 per cent year-on-year at Rs 71.2 crore on the back of exceptional expenses worth Rs 21 crore.

The stock of the textiles company was trading at its lowest level since July 2021. In the past one month, it has underperformed the market by falling 22 per cent, as compared to a 2.4 per cent decline in the S&P BSE Sensex.

The stock has corrected 35 per cent from its 52-week high level of Rs 315 touched on October 11, 2021.

In Q3FY22, the company’s total income declined 1 per cent YoY at Rs 787 crore. Earnings before interest tax and depreciation and amortization (ebitda) margin improved 60 bps at 18.6 per cent. Volumes declined 12 per cent YoY to 21.1 million metre.

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*Figures mentioned in the above article have been sourced from Business Standard & Money Control article. 

08 February 2022, Mumbai:

Aslam Shaikh, Maharashtra's State Textile Minister, announced that the government has chosen to postpone its plan to end electricity subsidies to mid-sized powerlooms.

The powerloom operators have opted not to pay their electricity bills in order to put pressure on the government. In response to the demand, the Minister went to Ichalkaranji, a textile town, and spoke with stakeholders. Notably, the powerloom operators got bills for January without the subsidy amount removed.

The electricity subsidy for powerlooms that did not register their information on the textile department's special web portal has been halted by the state government. This had a deadline of December 31, 2021.

"The decision to end subsidies has been temporarily postponed." We are simplifying the online registration procedure, which will be completed in a month. I request that the powerloom operators pay their electricity bills at the discounted rates.

Also, I guarantee the powerloom operators that a proposal to enhance the subsidy on power utilized by 75 paise per unit would be presented to the state cabinet shortly," Shaikh added.

Meanwhile, the Maharashtra government has formed a five-member commission to investigate the requests of the state's powerloom operators. From January 1, approximately 9,000 mid-sized powerlooms in Kolhapur with a 27 HP electrical connection would be ineligible for the power subsidy. The state government provides a 3% subsidy on powerloom operators' power costs.

The state government spends around Rs. 150 crore on the subsidies.

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*Figures mentioned in the above article have been sourced from TOI article. 

05 February 2022, Mumbai:

Textile Secretary Upendra Singh on Friday said the "sustainable solutions are the key for healthy growth and an enduring future of the textile industry in the country Singh said the Indian Textile Industry increasingly faces many challenges in the 21st Century and some of the key challenges include the emission of green-houses gases (CHG) and wastage of water during the processing of cotton and other raw materials.

The secretary was speaking in a roundtable conference organized by SWITCH-Asia Regional Policy Advocacy Component (RPAC) in partnership with the TERI School of Advanced Studies, New Delhi, and UNEP here. "To ensure an enduring future for this integral industry, sustainable solutions to these challenges are necessary as soon as possible, he said.

Taking about the contribution of the sector in the country's GDP growth, he said with a contribution of 2.5 percent in the GDP and being the second-largest employers in the country which is around 10.5 crore people directly or indirectly associated with the industry, Indian textile industry is marred by challenges and require sustainable solutions to ensure healthy growth.

" Rising concern is over the water management, he said reducing water footprint and making the sector resource-efficient by reducing pollution is needed. During the event, Dr. Michael Bucki, Counsellor at the EU Delegation to India and Bhutan, said India can also achieve the desired growth in the textile industry with the help of policy optimisation and technologies as Europe has been able to address the issue.

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*Figures mentioned in the above article have been sourced from UNI article. 

09 February 2022, Mumbai:

From April-December 2021, dyes and intermediates exports surged by 25 per cent as demand from international markets increased. As per data by Basic Chemicals, Cosmetics & Dyes Export Promotion Council (Chemexcil), India’s dyes exports touched 4.08 lakh MT from April to December 2021, compared to 3.26 lakh ton in the same period of 2020.

Gujarat accounted for an estimated 70 per cent of dye and intermediate production in the country, says Bhupendra Patel, Chairman, Gujarat region, Chemexcil.

While dye exports surged, dye intermediates declined during the same period. Reduction in exporters incentives under the duty drawback scheme and the MEIS scheme made manufacturers less competitive in the international market, adds Patel.

Even though April-December exports surged, manufacturing capacities are currently underutilized for dyes and intermediates manufacturers, owing to steep rise in raw material costs.

Rise in raw material costs by 60 per cent has increased exporters’ costs of operations. This has also reduced their capacities, adds Yogesh Parikh, President, Gujarat Dyestuff Manufacturers’ Association (GDMA).

With textile industry sales taking a hit, the overall demand for dyes have also declined.

Export demand has also gone down due to the Chinese New Year holiday across China, Hong Kong and other countries, Parikh adds.

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06 February 2022, Mumbai:

The company has posted net profit / (loss) of Rs. 1.1065 crores for the period ended December 31, 2021 as against net profit / (loss) of Rs. -2.6437 crores for the period ended September 30, 2021.

The company has reported EPS of Rs. 0.20 for the period ended December 31, 2021 as compared to Rs. -0.48 for the period ended September 30, 2021.

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*Figures mentioned in the above article have been sourced from Equity Bulls article. 

05 February 2022, Mumbai:

Proposals were invited from State Government Agencies Industry Associations for undertaking training programmes under the Samarth Scheme.

After evaluation of these proposals, the Ministry of Textiles has partnered with 13 State Government Agencies, 92 Textile Industry, 10 Industry Associations/ Councils and 4 Sectoral Organizations of Ministry of Textiles for training of 3.46 lakh beneficiaries in textile sector, allocated after physical verification of training centers.

Fresh proposal for empanelment under the scheme has been invited in September 2021. In response, 72 proposals have been received upto closing date of receipt of the proposal i.e. 02.11.2021.

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*Figures mentioned in the above article have been sourced from PIB article.