Financial Results

Welspun Living Sees 17% Revenue Growth In Q1FY25

Textile Insights July 25, 2024

Welspun Living Ltd., a global leader in home textiles and part of the US$ 3.6 billion Welspun Group, announced its Q1FY25 results, showcasing robust performance despite global challenges. The company reported a total income of Rs. 25,885 million for Q1FY25, a 17% year-on-year (YoY) increase.

Economy

India’s Textile Sector Gets 28% Budget Hike

Textile Insights July 25, 2024

India’s textile sector is poised for growth with a 28% increase in the Budget allocation for 2024-25, said Northern India Textiles Mills Association (NITMA) President Sanjay Garg. This significant boost in funding is expected to drive innovation, enhance productivity, and create new opportunities for the textile industry. The increased investment underscores the

Industry

Bangladesh Garment Factories Reopen After Four-Day Shutdown

Textile Insights July 24, 2024

Garment and textile factories in Bangladesh began reopening yesterday after a four-day shutdown, with expectations for full reopening today. Around 30% of garment factories, including some in Dhaka, resumed operations without incidents reported. BGMEA President SM Mannan Kochi and Mohammad Hatem, Executive President of the Bangladesh Knitwear Manufacturers and Exporters

Economy

Indian Union Budget 2024: Key Initiatives To Boost Textile, Leather And MSME Sectors

Textile Insights July 23, 2024

The Indian government has announced several strategic measures in the latest Union Budget, unveiled today by Finance Minister Nirmala Sitharaman. These initiatives aim to enhance the global competitiveness of India’s textile, leather and MSME sectors, which are vital to the country’s economy. Textile And Leather Sector Reduced BCD on MDI for Spandex Yarn: The

Financial Results

Sportking India Q1 FY25: Revenue Up 17.7%, PAT Jumps 75%

Textile Insights July 22, 2024

Sportking India Limited, a leading textile company in India, has announced strong financial results for Q1 FY25, ending 30th June 2024. The company reported a revenue of Rs. 634.0 crores, reflecting a 17.7% year-over-year (YoY) increase and a 3.7% rise quarter-over-quarter (QoQ). EBITDA surged by 48.3% YoY to Rs. 73.8 crores, with the EBITDA margin […]

Corporates

Garment Brand Libas Bags Rs 150cr Funding From ICICI Venture

Textile Insights May 31, 2024

Omni-channel retailer and ethnic wear brand Libas has successfully closed its first external funding round and bagged an investment of Rs 150 crore by IAF Series 5, a fund managed by ICICI Venture. Libas has fast-tracked its growth to become a leading force in the online fashion segment, captivating customers with its dynamic product range […]

Industry

Turkish Company To Set Up 7.2mn Jeans Pieces Unit In Egypt

Textile Insights May 31, 2024

Egypt’s General Authority of the Suez Canal Economic Zone (SCZONE) signed land contract with Eroglu Egypt for a 65,000-square metre area. The contract aims to establish the Eroğlu Egypt’s readymade garments factory in the Qantara West Industrial Zone at a total investment of $40 million. “This factory, which is expected to create over 3,000 jobs, […]

Industry

Ichalkaranji Textile Sizing Units Warn Of Going On Strike

Textile Insights May 31, 2024

Textile sizing unit owners of Ichalkaranji have warned that they will go an indefinite strike due to pressure from the Maharashtra Pollution Control Board (MPCB). Textile sizing unit owners of Ichalkaranji have alleged that the pressure from MPCB will leave no alternative but to shutdown their operations. At a meeting organised by the local textile […]

Home Textiles

Chinese Home Textile Exports Grow Above Pre-Pandemic Levels

Textile Insights May 31, 2024

In the first four months of current year, Chinese home textile exports totaled US $10.12 billion, a marginal increase of 0.8 percent year on year, but still up 28.3 percent over the same period in 2019. Export of bedding products between January and April 2024 was $4.41 billion, growing by 1.6 percent over a year […]

Sustainability

Bangladesh Adds 12 More LEED Certified Garment Units In 2024

Textile Insights May 31, 2024

In the first five months of ongoing year, 12 more Bangladesh garment factories bagged the LEED certification, bringing the number of Bangladeshi LEED certified apparel factories to 218. LEED (Leadership in Energy and Environmental Design) is a globally recognised green building rating system that emphasises environmental responsibility and energy efficiency. “This recent