Corporates

Himatsingka Seide Limited Successfully Completes Rs. 400 Crore QIP

Textile Insights November 8, 2024

Himatsingka Seide Limited (HSL) has announced the successful completion of its Rs. 400 crore Qualified Institutional Placement (QIP). The funds raised will primarily be used to repay and reduce the company’s outstanding debt, bolstering HSL’s financial position and supporting its long-term

Financial Results

Page Industries Q2: Strong 11% Revenue, 30% PAT Gain

Textile Insights November 8, 2024

Page Industries Limited, India’s leading apparel manufacturer, has reported impressive financial results for Q2 and H1 FY25, driven by strategic operational efficiency and robust demand. For Q2 FY25, Page Industries achieved a revenue of Rs. 12,463 million, marking an 11% year-over-year growth, while PAT rose by a substantial 29.9% to Rs. 1,953 million. Key financial […]

Financial Results

Indo Count Reports Strong Q2, Unveils Strategic Transformation

Textile Insights November 8, 2024

Indo Count Industries Limited has reported its unaudited financial results for Q2 and H1 of FY25, ending September 30, 2024. The company, marking the launch of “Indo Count 2.0 – An Era of Transformation,” is embarking on a new phase focused on strategic expansion, diversification, and sustainability. Key Highlights of Indo Count 2.0 Core Business […]

Machinery

Summa Launches L1810 Gen 2.6 Laser Cutter For Precision Textile Cutting

Textile Insights November 7, 2024

Summa, a global leader in precision cutting technology, has unveiled the L1810 Gen 2.6 laser cutter, a cutting-edge textile solution built to elevate efficiency and performance. With high-volume, high-precision capabilities, this advanced laser cutter targets applications in sportswear, dye-sublimated garments, and other textile products. The L1810 Gen 2.6 introduces

Home Textiles

CRISIL Ratings: Home Textiles Industry To Grow 6-8% This Fiscal

Textile Insights November 7, 2024

India’s home textile industry is projected to achieve 6-8% growth this fiscal year following a 9-10% revenue rebound last fiscal. This growth will be driven by resilient demand from the US, the industry’s primary export market, and expansion in the domestic market, despite ongoing logistical challenges. A CRISIL Ratings analysis of 40 companies, representing

Textile Park

UP Govt To Set Up 11 Textile Parks, First In Shamli District

Textile Insights November 7, 2024

The Uttar Pradesh government has announced plans to establish 11 private textile parks across the state, starting with a park in Shamli district, which will see an investment of Rs 726 crore. This initiative aims to reduce dependence on raw materials from other states and China. Of the 11 proposed parks, six are planned for […]

Industry

Apindo Calls For Tax Incentives To Revive Indonesia’s Textile Industry

Textile Insights November 7, 2024

The Indonesian Employers’ Association (Apindo) has appealed to the government to reinstate the tax incentive for Income Tax Article 21 (PPh 21) borne by the government (DTP) to aid labour-intensive sectors, especially the struggling textile industry. This call comes in the light of the recent bankruptcy of PT Sri Rejeki Isman Tbk. (Sritex), a major […]

Industry

Tamkeen Launches Campaign To Address Harsh Conditions For Textile Workers In Jordan

Textile Insights November 7, 2024

Thousands of workers in Jordan’s textile and garment industry are enduring “harsh” working conditions, characterized by low wages and limited protections, exacerbated by a rise in subcontracting practices. In response to these pressing issues, the Jordanian non-profit organization Tamkeen is set to launch a campaign aimed at raising awareness about the

Industry

India Seeks Compensation From Turkiye Over Polyester Safeguards

Textile Insights November 6, 2024

India has formally requested compensation from Turkiye following Ankara’s decision to extend safeguard measures on polyester staple fibres, which has adversely affected Indian exports of the product. An official confirmed that India raised its concerns during recent bilateral consultations with Turkiye under the WTO’s safeguard agreement. On October 14, India

Export

Uzbekistan Aims To Increase Textile Exports To India

Textile Insights November 6, 2024

Uzbekistan is looking to enhance its textile exports, particularly in knitwear, to the Indian market. Ambassador Sardor Rustamboyev met with Pabitra Margherita, the Union Minister of State for External Affairs and Textiles of India, to discuss strategies for expanding this trade. The meeting was part of the preparations for Bharat Tex, a significant international