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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

Saurer Introduces Ideal Group As New Agent For Pakistan

July 22, 2024

Saurer has announced Ideal Group as the new agent for spinning and pre-spinning in Pakistan, effective 1 July 2024. Saurer recently hosted Khurram Ishtiaq, CEO and Muhammad Nasrullah, COO of Ideal Group at its Sustainability Hub in Übach-Palenberg, Germany. During their visit, they engaged in detailed discussions and in-depth training sessions and were introduced to […]

Corporates

Hirdaramani Group Invests LKR 10 Billion In Sustainable Textile Mill ‘Mihila Tex’

July 22, 2024

The Hirdaramani Group, a leader in apparel manufacturing and sustainability, has announced a significant LKR 10 billion investment in a new textile mill, ‘Mihila Tex’, in Pannala, Sri Lanka. This facility will enhance the future of the apparel industry and strengthen Sri Lanka’s role as a sustainable manufacturing hub. In partnership with Hengda Textiles, a

Apparel, Fashion, Retail

Waimea Set To Expand Offline Presence In India After Online Debut

July 22, 2024

Waimea, the New York-based denim menswear brand, is set to enhance its offline footprint in India, just under two months after debuting its online platform in the country. This move comes as the company aims to capitalize on India’s burgeoning fashion market. The brand has already forged a partnership with Tipsy Topsy, a multi-brand outlet […]

Event

TANA BANA’s Third Textile Series Highlights Government Subsidies

July 22, 2024

The Institute of Engineers organized the 3rd edition of the Mega Textile Series TANA BANA at the Institution of Engineers. This prestigious event aims to bolster the textile industry at the grassroots level, providing a platform for textile entrepreneurs to learn and discuss techno-commercial topics impacting profitability and productivity. It also facilitates connections

Apparel, Fashion, Retail

Shoppers Stop Reports 5% Growth In GAAP Sales In Q1 FY25

July 22, 2024

Shoppers Stop Ltd reported its Q1 FY25 financial results, showing a 5% increase in GAAP sales to Rs 1,034 crore compared to the same quarter last year. Non-GAAP sales rose by 2% to Rs 1,260 crore. However, the company experienced a 170 basis point drop in gross margin to 40.6%, and EBITDA fell by 19% […]

Welspun Living Sees 17% Revenue Growth In Q1FY25

India’s Textile Sector Gets 28% Budget Hike

Bangladesh Garment Factories Reopen After Four-Day Shutdown

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

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

Saurer Introduces Ideal Group As New Agent For Pakistan

Hirdaramani Group Invests LKR 10 Billion In Sustainable Textile Mill ‘Mihila Tex’

Waimea Set To Expand Offline Presence In India After Online Debut

TANA BANA’s Third Textile Series Highlights Government Subsidies

Shoppers Stop Reports 5% Growth In GAAP Sales In Q1 FY25

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