VTM Signs Mou With Tamil Nadu Govt For Rs 50 Crore Investment In Textiles
VTM has signed a memorandum of understanding (MoU) with the Government of Tamil Nadu to invest Rs 50 crore over the next two years in the state’s textile sector.
The proposed investment will be directed toward cotton grey fabric and home textile manufacturing facilities in the Madurai and Virudhunagar districts. The project is expected to generate around 50 jobs, including 40 direct and 10 indirect employment opportunities.
VTM is engaged in weaving operations and specialises in the production of fine-count fabrics with complex technical specifications, catering to both domestic and export markets.
On the financial front, the company reported a sharp decline in profitability during the second quarter of FY26. Standalone net profit fell 76.3 per cent year-on-year to Rs 2.32 crore in Q2 FY26, even as revenue from operations rose 22.8 per cent to Rs 89.88 crore compared with Q2 FY25.
