Textile Manufacturing Industry in India 2023 Part-I

Textile Manufacturing
Industry in India 2023

(Part-I)
APRIL 2023
Proprietary and Confidential, Copyright © 2023, Netscribes, Inc. All Rights Reserved
The content of this document is confidential and meant for the review of the recipient.
Disclaimer: The names or logos of other companies and products mentioned herein are the trademarks of their respective owners
EMISPDF in-sga-01 from 49.36.99.219 on 2023-05-12 16:36:27 BST. DownloadPDF.

Downloaded by in-sga-01 from 49.36.99.219 at 2023-05-12 16:36:27 BST. EMIS. Unauthorized Distribution Prohibited.
Table of Contents
Chapter 1: Chapter 4: Chapter 6:
Executive Summary Market Overview COVID-19 Impact Analysis
1.1. Executive summary 4.1. Textile industry in India ─ An overview 6.1. COVID-19 impact analysis
4.1.1. Market size and growth forecast (FY 2021 ─ FY 2027e)
4.1.2. Implementation of integrated textile parks
4.1.3. Major integrated textile parks located across the country

Socio-economic Indicators Market Segmentation Market Influencers
2.1. Socio-economic indicators 5.1. Market share based on business model (FY 2022 and FY 2027e) 7.1. Market drivers
5.2. Unorganized textile industry in India ─ Market size and growth forecast 7.2. Market challenges
(FY 2021 ─ FY 2027e)
5.3. Organized textile industry in India ─ Market size and growth forecast
(FY 2021 ─ FY 2027e)
Chapter 3:
Introduction
3.1. Market definition
3.1.1. Various sectors of textile industry in India
2
TEXTILE MANUFACTURING INDUSTRY IN INDIA 2023
Table of Contents (Continued)
Government Initiatives Market Trends Analysis Competitive Landscape (Continued)
8.1.. Government initiatives 10.1. Market trends analysis Note: Similar information covered for all other
companies
11.2. Himatsingka Seide Limited
11.3. K P R Mill Limited
11.4. Nitin Spinners Limited
11.5. Page Industries Limited
Chapter 9: Chapter 11:
11.6. Raymond Limited
Trade Analysis Competitive Landscape 11.7. Rupa and Company Limited
9.1. Trade analysis 11.1. Arvind Limited 11.8. Trident Limited
9.1.1. Export - Company information 11.9. Vardhman Textiles Limited
- Value-wise - Business description 11.10. Welspun India Limited
- Volume-wise - Products/services
- Country-wise - Key people
9.1.2. Import - Financial snapshot
- Value-wise - Key ratios
- Volume-wise - Key financial performance indicators
- Country-wise - Key business segments
- Key geographic segments
3
Table of Contents (Continued)
Chapter 12: Chapter 15:
Recent Developments Appendix
12.1. Recent developments 15.1. Research methodology
15.2. About Netscribes
15.3. Disclaimer
Chapter 13:
Appendix
13.1. Research methodology
13.2. About Netscribes
13.3. Disclaimer
4
Chapter 1: Executive Summary

Executive Summary
• The textile industry in India was valued at INR 14.25 Trn in FY 2022. It is expected to reach INR 31.02 Trn in FY 2027, expanding at a compound annual
growth rate (CAGR) of ~17.41% during the FY 2023 ─ FY 2027 period
• The textile sector has a diverse value chain spread across fiber to readymade garments in India
Market overview • Considering the potential of the textile sector in generating employment and export revenues, the government has taken several measures to promote the
sector, including for capacity building, technology upgradation, and to boost employment generation
Drivers Challenges
• Rising demand and per-capita consumption of fiber • Shortage of raw materials and low productivity among labors
Drivers and
• Easy and competitive production opportunities • Noise pollution inside the manufacturing plants
challenges • Resolution of growing environmental concerns • High wastage
• Growing role of technology and usage of spinning cans • Health issues
• The imposition of lockdown due to the COVID-19 pandemic had a major impact on the textile manufacturing industry in India
• The pandemic and the lockdowns disrupted the operations of textile manufacturers causing cash-based operations to pause, scarcity of workforce and a
COVID-19 impact major halt in garment exports due to unavailability of transportation
• However, initiatives undertaken by the Indian government to aid the stressed sectors, including the textile industry, assisted to obtain a steady revival of the
market
Major market players
Competitive Arvind Limited K P R Mill Limited Page Industries Limited Rupa and Company Limited
landscape
Himatsingka Seide Limited Nitin Spinners Limited Raymond Limited Trident Limited
6
Chapter 2: Socio-economic Indicators

Socio-economic Indicators
Total population
1.438 1.451
1.411 1.425
1.383 1.397
1.354 1.368
1.324 1.339
Bn
1.309
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Population density
483.9 488.3
479.3
Persons per sq. km
470 474.7
460.4 465.2
450.4 455.4
440.3 445.4
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
| TEXTILE MANUFACTURING INDUSTRY IN INDIA 2023 8

Socio-economic Indicators (Continued)
Sex ratio of total population Population based on age group
Males per 100 females 0-14 15-24 25-49 50+

107.8
107.6 16.10%
17.10% 19.40% 21.20%
107.4
Axis Title
34.10% 35.30%
36.40%
37.30%
107.1
19% 18.50% 18% 17.30%
30.80% 28.40% 26.20% 24.20%
2010 2015 2020 2025 2010 2015 2020 2025

Axis Title
Urbanization trend
Urban Rural
67.20% 66.80% 66.40% 66% 65.50% 65.10% 64.60% 64.10% 63.60% 63.10% 62.60%
33.20% 33.60% 34% 34.50% 34.90% 35.40% 35.90% 36.40% 36.90% 37.40%
32.80%
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Total fertility rate (children per woman) Infant mortality rate (deaths per 1,000 live births)
2.4 39
32
No. of infant deaths

No. of children
27
2.24
2.14
2010-2015 2015-2020 2020-2025 2010-2015 2015-2020 2020-2025
Number of births Number of deaths

124.4
52.4
121.2 48.7
Mn
Mn
119.7 46.2
2010-2015 2015-2020 2020-2025 2010-2015 2015-2020 2020-2025

Combined literacy rate
Male Female Overall
82.10%
75.30% 74%
64.80% 65.50%
53.70%
2001 2011
Rural literacy rate Urban literacy rate

Male Female Overall Male Female Overall
86.30% 89.70% 85%

78.60% 79.90% 79.90%
70.70% 68.90% 72.90%
58.70% 58.80%
46.10%
2001 2011 2001 2011

Gross domestic product (GDP) growth rate Total foreign direct investment (FDI) inflows
6.79% 6.53% 81.97

GDP growth rate compared
74.39
4.04%
60.97 62.00
to previous year
USD Bn
2017 2018 2019 2020
-7.25%
FY 2018 FY 2019 FY 2020 FY 2021
Average consumer price index (CPI) inflation Unemployment rate
9.63% 7.11%
5.41% 5.33% 5.27%
5.24%
4.00% 3.69%
2017 2018 2019 2020 2017 2018 2019 2020

Access to safe drinking water (by Indian households)
Urban Rural Total

90.0% 91.4%
82.7% 85.5%
73.2% 77.9%
2001 2011
Exchange rate
Period maximum Period average Period minimum
73.87
68.36 70.79 72.34
66.11 63.62 63.37
61.38
74.1 73.94 78.62
INR vs USD
64.18 67.20 65.13 68.45 70.43
74.41 72.41 76.93 76.39 83.03

67.15 68.88 68.39
2015 2016 2017 2018 2019 2020 2021 2022

Chapter 3: Introduction

Market Definition and Structure
• Research, design, development, manufacturing, and distribution of textiles, fabrics, and apparel are all included in the textile business
• Currently, every company engaged in the research, development, production, manufacturing, and distribution of textiles is a part of the global textile industry
• Agriculture is where it all begins, with the production of fiber, the care of sheep and silkworms, and mineral and metal mining. Then, these fibers are transformed into yarns, textiles, and
clothing
▪ This includes spinning mills, weaving mills, knitting mills, dyeing mills, garments
• Additionally, companies that sell laces, looms, knitting supplies, buttons, zippers, sewing machines and threads, and curtain hardware are related to this industry.
Textile industry in India
Organized Unorganized
Knitting, yarn and

Spinning mills Composite mills Power loom Handloom Hosiery
fabric processing units
Focus of the report
15
Chapter 4: Market Overview

Textile Industry in India – An Overview
Market size and growth forecast (FY 2021 ─ FY 2027e)
31.02
26.04
22.07
18.89
INR Trn
14.25 16.32
6.20
FY 2021 FY 2022 FY 2023e FY 2024e FY 2025e FY 2026e FY 2027e
Key highlights
• The textile industry in India was valued at INR 14.25 Trn in FY 2022. It is expected to reach INR 31.02 Trn in FY 2027, expanding at a CAGR of ~17.41% during the FY 2023 ─ FY 2027
forecast period
• Textiles and apparel industry in India is labor intensive sector that employs more than 45 million people
• The industry contributes 2.3% to Indian Gross Domestic Product (GDP), 7% of Industrial Output, 12% to the export earnings of India and employs more than 21% of total employment
▪ India is the 6th largest producer of Technical Textiles with 6% Global Share, and largest producer of cotton and jute in the world
• India's exports of textiles and apparel (T&A) and handicrafts reached a record high of INR 3.64 Trn in FY 2021–22, up 41% and 26% from the equivalent totals in FY 2020–21 and FY 2019–
20, respectively
▪ The estimated production of cotton in the country is 34.19 million bales and estimated consumption is 31.10 million bales
• Currently, one of the primary driving factor in the country’s GDP is the increased demand for textiles and apparel to make high-quality garments and footwear
• Apart from that, the Indian government has initiated measures to empower indigenous textile businesses
• As a result, they are offering financial aid to weavers by creating production-linked incentive (PLI) programs to increase the country's textile and clothing manufacturing
• Furthermore, the simple accessibility and availability of a variety of raw materials in India, such as cotton, wool, and silk, contributes to the market's growth
• Also, key market players such as Raymond Limited, Arvind Limited, Welspun India are manufacturing textiles and apparel with sustainable and ethically sourced materials, such as vegan
leather and plant-based faux fur, to prevent animal cruelty and reduce the implementation of unethical practices in rearing animals
▪ They are also minimizing the use of various toxic chemicals in the textile processing and dying method to reduce water pollution in India
Textile Industry in India – An Overview (Continued)
Implementation of integrated textile parks
2 • The Government of India is implementing the Scheme for Integrated Textile Park (SITP)
which provides support for creation of world-class infrastructure facilities for setting up of
textile units, with a Government of India (GoI) grant up to 40% of the project cost subject to a
1 ceiling of INR 400 Mn
3
• However, GoI grant is up to 90% of the project cost for first two projects (each) in the States of
1 Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Tripura, Sikkim, Himachal
Pradesh, Uttarakhand and Jammu & Kashmir
• The Scheme is demand driven. A total of 59 textile parks have been sanctioned under SITP by
3 2 1 the Ministry of Textiles out of which 22 textile parks have been completed and rest are under
various stages of construction
• The slow progress in implementation of the textile parks under the Scheme has been attributed
14 2 primarily to delay in obtaining land and other statutory clearances to the parks from State
Governments and slow fund mobilization by the textile parks
• As of April 2023, two textile parks have been sanctioned in Uttar Pradesh so far, under the
Scheme
13 • Currently, Gujarat (14 ITP) and Maharashtra (13 ITP) collectively have almost 50% of integrated
textile parks in the country, followed by Rajasthan (8 ITP) and Andhra Pradesh (6 ITP)
6
Highest number of textile parks
2 Moderate number of textile parks
Least number of textile parks
8 States with no textile parks
18
Major integrated textile parks located across the country
Sl. No. Name of the park Location State

1. Islampur Integrated Textile Park Islampur Maharashtra
2. Latur Integrated Textile park Latur Maharashtra
3. Amitara Green Hi-tech Textile Park Ahmedabad Gujarat
4. Karanj Textile Park Surat Gujarat
5. Shahlon Textile Park Surat Gujarat
6. Palsana Textile Park Surat Gujarat
7. Shanti Integrated Textile Park Surat Gujarat
8. Satyaraj Integrated Textile Park Ichalkaranji Maharashtra
9. Dhule Textile Park Dhule Maharashtra
10. Shree Ganesh Integrated Textile Park Dhule Maharashtra
11. Aalishan Eco Textile Park Panipat Haryana
12. Aalishan Eco Textile Park Guntur Andhra Pradesh
13. Tarakeaswara Textile Park Nellore Andhra Pradesh


14. Brandix India Apparel City Private Limited Vishakhapatnam Andhra Pradesh
15. Gujarat Eco Textile Park Limited Surat Gujarat
16. Mundra SEZ Textile and Apparel Park Limited Kutch Gujarat
17. Fairdeal Textile Park Private Limited Surat Gujarat
18. Vraj Integrated Textile Park Limited Ahmedabad Gujarat
19. Sayana Textile Park Limited Surat Gujarat
20. Doddabalapur Integrated Textile Park Doddabalapur Karnataka
21. Metro Hi-Tech Cooperative Park Limited Ichalkaranji Maharashtra
22. Pride India cooperative Textile park Limited Ichalkaranji Maharashtra
23. Baramati Hi Tech Textile Park Limited Baramati Maharashtra
24. Purna Global Textiles Park Limited Hingoli Maharashtra
25. Lotus Integrated Tex Park Barnala Punjab
26. Rhythm Textile and Apparel Park Limited Nawanshehar Punjab


27. Ludhiana Integrated Textile Park Limited Ludhiana Punjab
28. Kishangarh Hi-Tech Textile Weaving Park Limited Kishangarh Rajasthan
29. Next Gen Textile Park Private Limited Pali Rajasthan
30. Jaipur Integrated Texcraft Park Private Limited Jaipur Rajasthan
31. Palladam Hi-Tech Weaving Park Palladum Tamil Nadu
32. Komarapalayam Hi-Tech Weaving Park Limited Komalarapallyam Tamil Nadu
33. Karur Integrated Textile Park Karur Park Tamil Nadu
34. Madurai Integrated Textile Park Madurai Tamil Nadu
35. The Great Indian Linen and Textile Infrastructure Company, Uthukuli Tirupur District Tamil Nadu
36. Pochampally Handloom Park Limited Bhuvangiri Telangana
37. White Gold Textile Park Rangareddy Andhra Pradesh
38. Hosiery Park Howrah West Bengal
39. Prag Jyoti Textile Park Darang Assam


40. Hindupur Vyapar Apparel Park Limited Anantapur Andhra Pradesh
41. MAS Fabric Park India Limited Nellore Andhra Pradesh
42. Surat Super Yarn Park Limited Surat Gujarat
43. Kejriwal Integrated Textile Park Surat Gujarat
44. J&K Textile Park Kathua Jammu and Kashmir
45. Gulbarga Textile Park Gulbarga Karnataka
46. SIMA Textile Processing Centre Cuddalore Tamil Nadu
47. EIGMEF Apparel Park Limited Kolkata West Bengal
48. Asmeeta Infratech Limited Thane Maharashtra
49. Deesan Infrastructure Private Limited Dhule Maharashtra
50. RJD Integrated Textile Park Private Limited Surat Gujarat
51. Kashmir Wool and Silk Textile Park Ghatti Jammu and Kashmir
52. Farrukhabad Textile Park Farrukhabad Uttar Pradesh


53. Eco-Tex Textile Park Bareily Uttar Pradesh
54. NSP Infrastruture Private Limited Surat Gujarat
55. Hinganghat Integrated Textile Park Vidharbha Maharashtra
56. Pallavada Technical Textiles Park Private Limited Erode Tamil Nadu
57. Himachal Textile Park Una Himachal Pradesh
58. Kancheepuram Perarignar Anna Silk Park Kanchipuram Tamil Nadu
59. Kalapana Awade Textile Park Kolhapur Maharashtra

Chapter 5: Market Segmentation

Textile Industry in India – Segmentation
Market share based on business model (FY 2022 and FY 2027e)
Unorganized sector
47.50%
FY 2022 55.00% FY 2027e
45.00%
52.50%
Organized sector
100% = INR 14.25 Trn 100% = INR 31.02 Trn
• Based on business model, the textile industry in India is segmented into:

▪ The unorganized sector (small scale with traditional tools and methods. It consists of handloom, handicrafts and sericulture (production of silk).
▪ The organized sector (uses modern machinery and techniques and consists of the spinning, apparel and garments segment)
• In FY 2022, the unorganized segment accounted for the major share (55%) of the market
▪ As more manufacturers adopt cutting-edge solutions in the textile industry during the post-lockdown phase, the unorganized sector's market share is anticipated to decline
significantly
• The organized sector is expected to expand at a higher growth rate with a market share of~45% in FY 2022 and ~47.50%, respectively in FY 2027

Textile Industry in India – Segmentation (Continued)
Unorganized textile industry in India ─ Market size and growth forecast (FY 2021 ─ FY 2027e) Key highlights
• The unorganized sector consists of handlooms, handicrafts and sericulture
(production of silk) which are operated on a small scale with traditional
tools and methods
INR Trn
• In the past decade, the unorganized sector and small and medium-sized
14.73 businesses dominated India’s textile industry, which is highly fragmented
12.76
9.82 11.14 • The textile industry is a source of income for more than 27 million women
7.84 8.73
in India, out of which about 50% are associated with unorganized sectors
3.51 like handlooms, handicrafts, and sericulture
▪ The percentage of women workers in the organized sector is less
• The unorganized sector is also one of the prime sectors of employment
FY 2021 FY 2022 FY 2023e FY 2024e FY 2025e FY 2026e for the rural population
Organized textile industry in India ─ Market size and growth forecast (FY 2021 ─ FY 2027e) Key highlights
• The organized textile industry in India is characterized using capital-
intensive technology for the mass production of textile products and
includes spinning, weaving, processing, and apparel manufacturing
INR Trn
16.29 • Cotton/ Man-made fiber (MMF) is the largest organized sector of

13.28 textiles in the country in terms of employment (nearly 1 million
10.92 workers) and number of units
9.07
6.41 7.59 • Besides, there are many subsidiary industries dependent on this sector,
2.70 such as those manufacturing machinery, accessories, stores, ancillaries,
dyes & chemicals
FY 2021 FY 2022 FY 2023e FY 2024e FY 2025e FY 2026e FY 2027e

Chapter 6: COVID-19 Impact Analysis

COVID-19 Impact Analysis
Impact of COVID-19 on the MSME market
• In the wake of the pandemic, industries of all sizes were severely impacted; the textile and apparel sector were affected the most
• COVID-19 dealt a severe blow to this sector because micro and small firms are financially fragile and less resilient to economic crises
• Businesses went down by ~46% between 2019 and 2020. Sales declined drastically as operational costs surged and income fell
• However, the market showed resilience during the second wave of the pandemic
COVID-19 impact – 2020
Manufacturing shutdown:
• The industry faced a complete shutdown for around 2-3 months, while a few manufacturers who dedicated their production systems for PPE manufacturing were
permitted to function. However, most of the units operated at suboptimal utilization levels for the next several months
Logistics suspension:
• Disrupted logistics and frozen external trade caused due to the pandemic affected the entire value chain alike. India’s April and May 2020 net trade were around 50%
lower month-on-month compared to that of the previous year
Cancelled orders:
• Due to the uncertainty across the market, international and domestic buyers cancelled or suspended their orders, adding to the woes of the industry
Slump in physical retail sales:

• Lockdown restrictions across the country resulted in a slump in the retail sales of apparel for at least 4-5 months. Moreover, the festive and wedding season sales were
deeply impacted

COVID-19 Impact Analysis (Continued)
COVID-19 impact – Transition from 2020 to 2021
• Although the industry suffered severe losses in 2020 due to exports being halt and its revenue declining drastically in 2020, it gained some traction by the end of 2021
• Several initiatives by the government provided a steady growth in the textile industry
Impact overview, 2021 – key highlights
• The second wave of the pandemic impacted tier III, tier IV, and metro cities more than tier I and tier II cities
1 • Also, large scale businesses were much more impacted during this wave of the pandemic than the small and medium sized industries
• Uttarakhand, Madhya Pradesh, and Kerala were affected the most during the second wave of the pandemic
2 • States which were the least impacted include Bihar, Telangana, and Jharkhand
• Delhi, Haryana, and Uttar Pradesh experienced the highest volume of inter-state trade activities in the first quarter of 2021
• Employment opportunities in the textile, especially in the rural areas, started reviving by the end of July 2021
3 • Sales for kids wear and casual wear recovered faster, while ethnic wear and formal wear were the worst hit segments

COVID-19 Impact Analysis (Continued)
Outlook for India's textile industry after COVID-19
Online textile industry: Growing opportunities
• The post-COVID-19 era has created significant possibilities for the online textile sector
• Due to the lockdown to stop the COVID-19 outbreak, the online textile sector in many Indian towns and states saw an increase in sales
• Internet-based companies in India stand a decent potential of becoming unicorns due to the growing trend in the online textile industry
• Customers felt very at ease choosing and evaluating their products before buying them online
• Even the return policies created a favorable scenario for internet shoppers.
Improved operations
• Businesses are hopeful about adopting new technology thanks to Covid, which has given them the chance to revolutionize industries and supply lines
• Several established enterprises are switching from traditional business structures to direct-to-consumer techniques, while many new businesses are adopting this
strategy a new
• Innovative technologies are now being used by manufacturers to increase transparency and accountability in the supply chain, such as block chain and data analytics
• Thanks to cloud-based communication technologies, digitization has significantly increased manufacturing's resource efficiency and sustainability to the point that supply
chains and production processes are now more visible and, consequently, more sustainable
• Transparently tracking a product's origin, ingredients, and production processes, or the entire path of a product, is now possible

Chapter 7: Market Influencers

Market Drivers
Rising demand and per-capita consumption of fiber
• The total demand for eco-fibers, along with their per capita use, has been increasing exponentially in the last few decade
• The rise in average disposable income of households, together with constantly evolving textile trends, is expanding the global fiber market rapidly
• The growing urbanization worldwide (according to reports, urban population made up approximately 70% of the total population count in 2022) is also significant in
aiding overall demand levels of high-quality fibers and textiles
• Both consumers/buyers as well as retailers are looking for greater variety in fibers and yarns
• The favorable demographics and the consolidation of organized retail services are providing a tremendous boost to this sector
Easy and competitive production opportunities
• The reducing volume of cultivable land in the country, due to global warming and other climate-changing phenomena, is one of the biggest challenges that the textile
industry is facing
• This potential setback is, however, being balanced by the immediate availability of high-quality raw materials. Virtual mediums have also ensured that there is no
scarcity of these raw materials
• Man-made fibers (MMF) can be easily derived from these sources, as well as from MMF recycling procedures
• Leading yarn spinning cans companies such as Welspun India, Raymond Limited are constantly researching to modify the properties of the materials, to deliver quality
fibers and ensure complete customer satisfaction
• The growing flexibility in fiber designing is also widening the usability of fibers in diverse applications

Market Drivers (Continued)
Resolution of growing environmental concerns
• Due to environmental concerns and threats, the demand for eco-friendly cellulosic fiber varieties is increasing rapidly
• The best spinning can manufacturers, like Jumac spinning cans, are regularly using re-designed HDPE cans, high-quality springs and other accessories, ensuring
superior load capacities and minimal environmental burdens
• Maintenance expenses are also being managed with care, and the focus is centered on making the production cycles more efficient
• Despite making up nearly one-third of the global textile market, cotton production occupies a meagre 3% of the aggregate volume of arable land
• In order to counter this, the biggest players are making a conscious effort to maximize the production per acre, by using the latest scientific agricultural practices
Growing role of technology and usage of spinning cans
• Innovation has emerged as a key driver of the fiber and textile industry
• Digital transformation is making this industry more competitive
• There has been high-volume investments on technological upgradation i.e., more time and resources are being spent on R&D and the framing of cost-optimization
strategies
• Manufacturers of spinning cans are looking to produce high-quality products through process-driven models at their state-of-the-art manufacturing facilities
• End-to-end support is being provided to streamline all processes – right from enhancing textile manufacturing standards to creating compact process controls
• Testing and quality monitoring tools are also becoming increasingly advanced. As the fiber industry is becoming more ‘intelligent’, ROI figures are also increasing

Market Challenges
Shortage of raw materials and low productivity among labors
• Raw materials determine 35% of the overall cost of production

• Cotton is in low supply in the country, especially long-staple cotton that is imported from Pakistan, Kenya, Uganda, Sudan, Egypt, Tanzania, the US, and Peru
• Despite having the largest amount of cotton planted (26% of the world's acreage), India only contributes 9% to global cotton production
• Low production is mostly caused by fluctuating prices and unpredictability in the availability of raw materials
• In comparison to 1,500–2,000 spindles and 30 looms in Japan, an Indian industrial worker typically only manages 380 spindles and 2 looms
• Additionally, there are poor labor relations throughout the nation. Strikes, layoffs, and retrenchments are frequent occurrences at the nation's cotton mills
Noise pollution inside the manufacturing plants
• Noise pollution is a major concern to workers and employees in the textile industry. Unwanted sound, or noise, can interfere with a variety of textile industry
operations
• Machine gearings are the main source of the noises. Therefore, the textile sector needs a low noise level
• The main source of noise pollution is air compression and suction. The textile sector has a high noise level due to the gearing of the machines, or transmission of
motion.
• Due to their rapid drafting systems and change mechanisms, draw frames make a lot of noise. Building mechanisms produce significant noise in a conventional speed
frame as a result of differential motion
• Dropbox motion in weavings causes significant noise levels in the textile sector due to shedding action, picking motion, beat up, and additional loom attachments such
as pirn shifting mechanisms
• These factors severely affect the workers. Up to 80 dB of noise has a physiological impact, and between 90 and 100 dB causes irreversible hearing impairment

Market Challenges (Continued)
High wastage
• The textile industry is infamous for its widespread resource waste, particularly water, thereby making it the second biggest pollution industry
• With the objective of reducing their impact on the local environment, the more advanced businesses are minimizing their water usage, modifying the chemicals they
use in dying processes, and reusing water for two or more procedures
• Pre- and post-consumer waste are two general categories of textile waste
• The pre-consumer waste is made up of materials from the garment industry's products, whereas post-consumer garbage is made up of materials from homes
• Waste from previous consumers is recycled since it is utilized for embroidery
• Therefore, one of the key issues for the textile industry is waste management
Health issues
• Carpal tunnel syndrome is a common musculoskeletal illness among textile industry workers
• Workers are also frequently afflicted by forearm tendonitis, lower back discomfort, neck pain, shoulder pain, and osteoarthritis of the knees. Repetitive motions and
uncomfortable ergonomic settings are the root causes of each of these ailments
• Cotton workers have their own issues with exposure to large levels of cotton dust, along with soil and chemical particles
• Byssinosis, sometimes referred to as brown lung is known to induce chest tightness, coughing, wheezing, and shortness of breath can be fatal and can be brought on
by this exposure

Chapter 8: Government Initiatives

Government Initiatives
Major legal and regulatory guidelines imposed in the textile industry
Government of India – legal and

regulatory framework
Scheme for
Scheme for Integrated Textile
Capacity Building Parks (SITP)
in Textile Sector
(SAMARTH)
Amended Make in India

Technology Up- Initiative
gradation Fund
Scheme (ATUFS)
Production Rebate of State PM MITRA
Linked Incentive and Central Taxes scheme
(PLI) Scheme and Levies
(RoSCTL)

Government Initiatives
• The Indian government has introduced several initiatives and programmes in the recent few years to support the textile manufacturing sector
• Some of the major packages and initiatives are listed below:
Scheme for Capacity Building in Textile Sector (SAMARTH):

• To address the skilled manpower requirement across textile sector, the scheme was formulated, under the broad policy guidelines of “Skill India” initiative and in
alignment with the framework adopted for skilling program by Ministry of Skill Development and Entrepreneurship
• The scheme is approved for implementation till March 2024
Amended Technology Up-gradation Fund Scheme (ATUFS):

• In order to promote ease of doing business in the country to achieve the vision of generating employment and promoting exports through “Make in India’’ with "Zero
effect and Zero defect" in manufacturing, ATUFS was launched in January 2016 to provide credit linked Capital Investment Subsidy (CIS) to units for purchase of
benchmarked machinery in different segment of Textile Sectors (excluding spinning)
• This scheme is effective up to March 2023
PM MITRA scheme:
• The government approved setting up of Seven Pradhan Mantri Mega Integrated Textile Region and Apparel (PM MITRA) Parks in Greenfield/Brownfield sites with an
outlay of INR 44.45 Bn for a period of seven years up to 2027-28
• These parks will enable the Indian textile industry to become globally competitive, attract large investment and boost employment generation, according to the ministry
of textiles
Production Linked Incentive (PLI) Scheme:

• The PLI Scheme for textiles to promote production of MMF apparel, MMF Fabrics and Products of Technical Textiles in the country to create 60-70 global players, attract
fresh investment of INR 190 Bn approximately and generate almost 7.5 lakh new employment opportunities

Chapter 9: Trade Analysis

Export: 5911
Export (based on value)
4,132.87
INR Mn
3,023.86 2,758.62
2,559.51
FY 2019 FY 2020 FY 2021 FY 2022
Country-wise segmentation (based on value)
22.84%
55.86%
21.40% China
China 46.04%
Nepal
Vietnam
4.04% Vietnam
FY 2021 Nepal FY 2022
4.14% 10.79% Bangladesh
Bangladesh
Turkey Turkey
7.69%
Others 8.69% Others
6.87% 5.92%
5.71%
HS Code 5911 refers to textile products and articles, for technical uses, specified in note 8 to this chapter
Import: 5911
Import (based on value)
6,267.11
INR Mn
5,281.08 5,263.01 4,945.33
FY 2019 FY 2020 FY 2021 FY 2022
Country-wise segmentation (based on value)
22.02% 22.85%
36.01%
UAE
35.60% UAE
Saudi Arabia
Singapore
USA Singapore
FY 2021 FY 2022
11.83% Korea
Saudi Arabia
11.78% Korea USA
Others Others
7.62% 11.15%
8.87% 11.04%
10.55%
10.68%
HS Code 5911 refers to textile products and articles, for technical uses, specified in note 8 to this chapter
Other Exports
Export Value (INR Mn) : HS Code (6 digit level)
Sl No. HS Code Description FY 2019 FY 2020 FY 2021 FY 2022
Textile fabrics felt and felt-lined woven fabrics coated covered or laminated with
rubber leather or other material of a kind used for card clothing and similar
1 591110 481.06 523.82 431.75 625.33
fabrics of a kind used for other technical purposes including narrow fabrics made
of velvet I
2 591120 Bolting clothes, whether or not made up 154.90 153.69 150.01 171.06
Textile fabrics and felts, endless or fitted with linking devices, of a kind used in
papermaking or similar machines, e.g., for paper pulp or asbestos cement
3 591131 166.30 182.10 134.84 296.26
weighing greater than equals to 650 g/m2 (excluding those of silk or man-made
fibers)
4 591132 227.53 234.97 264.74 232.07
fibers)
Straining cloth of a kind used in oil presses or the like including that of human
5 591140 205.32 332.30 330.43 425.45
hair
6 591190 Other textile products and articles for technical use 1,324.41 1,596.98 1,446.86 2,382.70

Other Exports (Continued)
1 59113110 Felt for cotton textile industries (woven) 0.69 7.42 9.91 5.80
Woven textiles felts, whether or not impregnated/coated of a kind commonly
2 59113120 0.53 1.20 0.20 0.44
used in other machines
3 59113130 Cotton fabrics and articles used in machinery and plant 12.78 12.40 11.14 14.64
4 59113140 Jute fabrics and articles used in machinery/plant 0.01 0.00 1.06 0.01
Textile fabrics of metalized yarn of A kind commonly used in paper making or
5 59113150 0.00 0.90 1.04 0.00
other machinery
6 59113190 Others 152.29 160.17 111.49 275.36
8 59113220 22.38 24.51 21.73 25.23
used in other machinery
11 59113250 Textile fabrics of metallized yarn of a kind commonly used in paper making 15.89 0.00 0.41 4.00
12 59113290 Others 187.03 209.49 241.94 202.16

Other Exports (Continued)
Filtering or straining clothes of a kind used in oil presses or the like including that
15 59114000 205.32 332.30 330.43 425.45
of human hair
16 59119010 Paper makers felt (woven) 56.13 121.45 136.38 224.16
17 59119020 Gaskets washers polishing discs and other machinery parts of textile articles 60.73 71.78 74.78 103.79
18 59119090 Others 1,207.55 1,403.75 1,235.70 2,054.75

Other Imports
Import Value (INR Mn) : HS Code (6 digit level)
Textile fabrics felt and felt-lined woven fabrics coated covered or laminated with
rubber leather or other material of a kind used for card clothing and similar
1 591110 455.30 592.51 612.25 721.08
fabrics of a kind used for other technical purposes including narrow fabrics made
of velvet I
2 591120 Bolting clothes, whether or not made up 439.19 445.30 468.14 517.72
3 591131 238.99 270.23 183.14 297.09
fibers)
4 591132 925.39 893.01 717.76 890.43
fibers)
Straining cloth of a kind used in oil presses or the like including that of human
5 591140 99.38 142.94 163.15 309.40
hair
6 591190 Other textile products and articles for technical use 3,122.84 2,919.02 2,800.90 3,531.40

Other Imports (Continued)
2 59113120 15.25 8.48 8.11 5.58
used in other machines
Textile fabrics of metalized yarn of A kind commonly used in paper making or

5 59113150 31.93 10.19 15.64 26.38
other machinery
6 59113190 Others 178.05 238.82 152.66 259.41
8 59113220 29.48 15.15 19.53 37.27
used in other machinery
11 59113250 Textile fabrics of metallized yarn of a kind commonly used in paper making 45.92 36.92 508.39 659.20
12 59113290 Others 711.45 730.21 163.15 309.40

Other Imports (Continued)
Filtering or straining clothes of a kind used in oil presses or the like including that
13 59114000 99.38 142.94 471.45 582.72
of human hair
14 59119010 Paper makers felt (woven) 525.68 583.92 90.55 125.50
15 59119020 Gaskets washers polishing discs and other machinery parts of textile articles 98.82 91.76 2,238.90 2,823.17
16 59119090 Others 2,498.34 2,243.35 4,945.33 6,267.11

Chapter 10: Market Trends Analysis

Market Trends Analysis
• The advancement in novel technologies is increasing steadily towards adopting ethical practices
• Novel textiles develop modern fibers that are eco-friendly, light, resilient, mechanically flexible, and easy to
process
Novel textiles • Moreover, novel fabrics have properties such as sensory capabilities, electrical conductivity, and data transmission
• Clothes with characteristics such as hydrophobic cotton, plant-based textiles, antimicrobial fabrics, and shape
memory polymers show versatility in textile sector
• Arvind Limited, the largest textile to technology conglomerate in India, and PurFi Global LLC, a sustainable
technology firm specializing in rejuvenating textile waste into virgin grade products, have formed a joint venture
to reduce the quantity of textile waste dumped in landfills
• Smart clothes use a variety of IoT sensors to collect the person’s biometric and physical data for effective health
and activity monitoring
• There are several Indian start-ups working to develop smart clothing. One such company leading the way is
Smart textiles Broadcast Wearables Private Limited
• The company offers SYNGAL, a whole range of smart garments, such as fitness t-shirt with navigation, that
connects to a mobile app
• It also offers programmable T-shirt that can be controlled via a mobile app, allowing users to tap, draw or animate
on the T-shirt in real-time
• The Motion Capture Safety Cycling Jersey is the most popular choice for cyclists who want to be visible and safe on
the road
• The LED hazard lights are activated by the motion capture technology when the riders raise their arms,
making them highly visible to drivers

Market Trends Analysis (Continued)
• The availability of 3D technologies is driving the efficiency of textile manufacturing and design
• 3D printing allows experiments with imaginative structures, shapes, and prototypes
3D technologies • The technology also enables the production of different materials ranging from soft polymers to rigid ceramics. It
also contributes to zero-waste goals by enforcing green materials
• Besides, 3D design software virtually visualizes garments before producing any fabric and waste. This way,
startups not only resolve overproduction issues but also increase sales speed and minimize operating costs
• Focusing on brand enhancement, digital sampling, and virtual showrooms aided by AR/VR technology
significantly improves cost-efficiency and marketing efforts
• The use of immersive technologies also reduces fashion waste by replacing physical objects with digital assets
• Besides, textile startups combine AR and online engagement to advertise and showcase the latest collections
Immersive fashion
• They also drive users into virtual reality experiences to highlight new features and collect valuable user feedback
▪ With these immersive practices, startups reshape the fashion industry in a creative and sustainable manner
• Major e-commerce websites like Myntra, Amazon enables virtual try-on for brands using augmented reality and
deep learning technology

Chapter 11: Competitive Landscape

Competition
List of major players
Name Website
Arvind Limited www.arvind.com
Himatsingka Seide Limited www.himatsingka.com
K P R Mill Limited www.kprmilllimited.com
Nitin Spinners Limited www.nitinspinners.com
Page Industries Limited www.pageind.com
Raymond Limited www.raymond.in
Rupa and Company Limited www.rupa.co.in
Trident Limited www.tridentindia.com
Vardhman Textiles Limited www.vardhman.com
Welspun India Limited www.welspunindia.com

Public: Domestic Company – Arvind Limited
Company information Business description

• Arvind Limited is a global leader in apparel manufacturing with water management
Arvind Limited
driven approach
Corporate address Naroda Road, Near Chamunda Bridge,
▪ It is a denim pioneer in advanced materials
Ahmedabad – 380 025, Gujarat, India.
• The company also delivers state-of-the-art engineering solutions
Tel No. +91-22-2425-2525 • The company is currently pioneering the amalgamation of wearable tech with their
fabrics, vertically integrated apparel solutions for fast-fashion retailers, increasing the
Fax No. +91-22-2425-1800 use of BCI and other sustainable yarns thereby creating future of immense possibilities
Website www.arvind.com • Arvind Denim Lab, Asia, enables brand design teams to leverage infrastructure and
capabilities and co-create their signature products and finishes
Year of incorporation 1993 • Further, the company’s partnership with Denim City, Amsterdam gives customers
Stock exchange: Ticker BSE: 500101 access to the cutting-edge developments in the world of Denim
• As of FY 2022, Arvind Denim produced over 100 million meters of fabrics and 6 million
pairs of jeans
Products/Services
Category Products/Services
Key people
Name Designation
Fabric and apparel Denims, woven, knits, voiles
Sanjay S. Lalbhai Chairman
Real estate Arvind smart spaces with cutting edge technology
Punit Lalbhai Vice-Chairman and Executive Director
Bakul H. Dholakia Independent Director

Public: Domestic Company – Arvind Limited (Continued)
Products/services (continued)
Category Products/services
Detailed Engineering, thermal design, FEA, and fatigue analysis conforming to global standards like ASME, EN13445, TEMA, among
Engineering solutions
others
Environmental solutions Arvind Envisol - water treatment, industrial wastewater treatment, and sewage treatment solutions
Advanced materials Filtration and conveyor belting, automotive and mass transportation, building and construction
Telecom Mini- EPABXs for the SOHO, shared mobile radio service, GPS-based vehicle tracking systems and fleet management systems
Garmenting Denim, shirts, knits

Key ratios
Financial snapshot Particulars FY 2019 FY 2020 FY 2021 FY 2022
Profitability Ratios
Total income Net profit/loss
Gross Margin % 52.9% 46.5% 48.0% 44.6%
INR Mn
90,000.0 3,000.0 Net Income Margin % 3.2% 1.3% (0.3%) 3.0%
80,337.3
80,000.0 71,421.8 73,690.0 2,500.0 EBITDA Margin % 10.3% 9.0% 8.9% 9.8%
70,000.0 EBITA Margin % 7.0% 6.1% 4.6% 7.0%
2,000.0
60,000.0 50,729.8 EBIT Margin % 7.0% 5.6% 3.9% 6.7%
2,262.3
50,000.0 1,500.0
Return on Assets % 3.6% 3.6% 1.8% 4.7%
2,381.5
40,000.0 1,000.0
(165.2)
Return on Capital % 4.8% 4.7% 2.4% 6.9%
30,000.0
500.0 Return on Equity % 6.9% 3.3% (1.0%) 8.4%
20,000.0
956.5
0 Return on Common Equity % 7.2% 3.5% (0.6%) 8.4%

10,000.0
Liquidity Ratios
0 (500.0)
Current Ratio 1.0x 1.0x 1.1x 1.1x
FY 2019 FY 2020 FY 2021 FY 2022
Quick Ratio 0.3x 0.4x 0.5x 0.4x
Leverage Ratios
Total Debt/Equity 95.3% 95.5% 76.7% 62.0%
Key financial performance indicator Total Debt/Capital 48.8% 48.9% 43.4% 38.3%
Interest Coverage 2.3x 1.8x 0.9x 3.1x
Indicators Value (07/04/2023) Efficiency Ratios
Total Asset Turnover 0.8x 1.0x 0.7x 1.1x
Market capitalization (INR Mn) 23,487.7 Fixed Asset Turnover 2.0x 2.0x 1.4x 2.3x
Accounts Receivable Turnover 5.4x 7.6x 4.7x 7.3x
Financial year ending on March 31st 2023 Inventory Turnover 1.8x 2.7x 2.2x 2.6x

Key business segments Key geographical segments

100% 100%
8.71% 7.21% 8.50% 5.40%
90% 9.61% 12.65% 90%
8.81% 13.29%
80% 80%
45.65% 43.42%
50.51% 50.62%
70% 70%
60% 60%
50% 50%
40% 82.48% 83.18% 81.95% 40%
78.21%
30% 30%
54.35% 56.58%
49.49% 49.38%
20% 20%
10% 10%
0% 0%
FY 2019 FY 2020 FY 2021 FY 2022 FY 2019 FY 2020 FY 2021 FY 2022
Textiles (Excluding Advanced Material) Advanced Materials Others
India Rest of The World

Public: Domestic Company – Himatsingka Seide Limited

Himatsingka Seide Limited • Himatsingka Seide Limited is an integrated global textile major that designs,
Corporate address 10/24 Kumara Krupa Road, High Grounds develops, manufactures, distributes, and retails wide range of textile products
Bangalore – 560001, India. • Their installed capacities for manufacturing bedding and bath products, drapery and
upholstery fabrics, and fine-count cotton yarn are amongst the largest in the world
Tel No. +91-0869-801-0101 • While global scale and next generation digital shop floors support their impressive
Fax No. +91-0402-300-1153 portfolio of owned and licensed brands, the company has a workforce of 10,000+
people
Website www.himatsingka.com • Being an integrated global textile major, the company’s motto is to design, develop,
Year of incorporation 2007 manufacture, distribute, and retail a suite of textile products
• As of January 2023, the company has its presence over 30+ countries, with over 15+
Stock exchange: Ticker NSEI: HIMATSEIDE brands and 99.1% water recovery with ZLD facilities
Products/Services
Key people
Classic bedding, fashion bedding, utility bedding, Name Designation
Bedding solutions
hospitality and institutional bedding D.K. Himatsingka Executive Chairman
Classic towels, fashion and lifestyle towels, kitchen and tea Rajiv Khaitan Independent Director
Bath solutions towels, bathmats and rugs, bathrobes, bath accessories,
hospitality and institutional towels Shrikant Himatsingka Managing Director and Group Chief Executive Officer

Public: Domestic Company – Himatsingka Seide Limited (Continued)
Yarn and fiber solutions Medium count yarn: 40s to 60s, fine count yarn: 60s to 100s, ultra fine count yarn: 100s to 160s
Drapery and upholstery solutions Drapery fabrics, upholstery fabrics
Major brands associated:

Financial snapshot Key ratios
Particulars FY 2019 FY 2020 FY 2021 FY 2022
Gross Margin % 50.3% 51.5% 44.8% 48.0%
INR Mn
35,000.0 31,839.5 2,500.0 Net Income Margin % 7.5% 0.6% (2.4%) 4.4%
30,000.0 26,176.5 2,000.0 EBITDA Margin % 20.8% 17.3% 12.6% 16.3%
25,000.0 23,579.3 22,583.2 1,500.0 EBITA Margin % 16.7% 12.4% 6.6% 11.7%
1,968.4
EBIT Margin % 16.7% 12.4% 6.6% 11.7%
1,408.2
20,000.0 1,000.0
Return on Assets % 5.8% 3.5% 1.8% 4.3%
15,000.0 500.0 Return on Capital % 7.1% 4.3% 2.2% 5.6%
10,000.0 0
132.5
Return on Equity % 14.9% 1.0% (4.0%) 10.1%
(533.5)
5,000.0 (500.0) Return on Common Equity % 14.9% 1.0% (4.0%) 10.1%
Liquidity Ratios
0 (1,000.0)
FY 2019 FY 2020 FY 2021 FY 2022 Current Ratio 1.1x 1.0x 0.9x 1.1x
Leverage Ratios
Indicators Value (07/04/2023) Interest Coverage 2.7x 1.5x 0.8x 2.1x
Efficiency Ratios
Market capitalization (INR Mn) 7,674.7 Total Asset Turnover 0.6x 0.5x 0.4x 0.6x
Fixed Asset Turnover 1.2x 0.9x 0.8x 1.2x

100% 100% 0.47% 0.68%

3.75% 0.09% 4.33% 0.21%
90% 8.41% 9.28%
90% 8.47% 2.94%
Himatsingka Seide Limited has been 4.01% 3.71%
80% solely operating in textiles for the last 80%
70% four years
70%
60% 60%
50% 100.00%
50%
87.69% 92.52% 87.11%
40% 86.32%
40%
30% 30%
20% 20%
10% 10%
0% 0%
FY 2022 FY 2019 FY 2020 FY 2021 FY 2022
Textile
North America India and Asia Pacific
Europe, Middle East and Africa Rest of The World

Public: Domestic Company – KPR Mill Limited

• KPR Mill Limited is one of the largest vertically integrated, public limited – listed
K P R Mill Limited
company with diversified business focus spanning across yarn, fabrics, garments and
Corporate address Shrivari Srimat, 1045, Avinashi Road,
white crystal sugar
Coimbatore – 641 018, India.
• Over the last 4 decades, KPR has gained expertise to produce a lasting mark in the
Tel No. +91-22-6638-7777 textile landscape
• The company has structured future-focused initiatives such as:
Fax No. +91-22-2204-4720 ▪ Active automation- Leveraging technology through automations across all
Website kprmilllimited.com departments
▪ Expanding horizons: Establishment of a state-of-the-art garment manufacturing
Year of incorporation 1911 facility at Ethiopia
• KPR Mill Limited is strategically located near Tirupur – Asia’s Largest Knitwear Cluster
Stock exchange: Ticker NSEI: KPRMILL
• The company has a portfolio of wide product range of textile varieties such as
readymade knitted apparel; fabrics; compact, melange, carded, polyster and combed
yarn
Products/Services
Colour Melange, Slub Yarn, Injection Slub (Cotton, Poly Cotton &
Melange) BCI, Organic, CMIA and REEL yarn, 10’s to 40’s Semi
Combed & Super Comber of Hosiery Yarn, Weaving, Organic, BCI,
Yarn
‘S’ Twist and Chessable Dye Cones, Grey Melange yarn of 100%
cotton and polyester cotton blend with count range Ne 20/1 to Ne
40/1
Key people
Name Designation
Single Jersey, Interlock, 1 x 1 Rib, 2 x 1 Rib, 3 Thread Fleece, 2
Fabric
Thread Fleece, Pique polo, Spandex yarn A M Palanisamy Director
Garment Casual wear, sports wear, active wear, sleep wear, work wear C R Anandakrishnan Executive Director
K P Ramasamy Chairman
Sugar Contamination free white crystal sugar

Public: Domestic Company – KPR Mill Limited (Continued)
Gross Margin % 37.3% 38.6% 42.3% 42.1%
INR Mn 48,224.8
60,000.0 9,000.0 Net Income Margin % 9.9% 11.2% 14.6% 17.5%
8,000.0 EBITDA Margin % 19.1% 19.4% 24.4% 25.9%
50,000.0
7,000.0 EBITA Margin % 15.2% 15.3% 20.2% 23.0%
40,000.0 33,840.1 33,526.3 35,274.2 6,000.0 EBIT Margin % 15.2% 15.3% 20.2% 23.0%
8,418.4
5,000.0
30,000.0 Return on Assets % 11.6% 10.9% 14.5% 17.0%
5,152.6
4,000.0
3,348.7
3,766.8
20,000.0 3,000.0
Return on Equity % 19.9% 20.6% 24.4% 30.4%
2,000.0
10,000.0 Return on Common Equity % 19.9% 20.6% 24.4% 30.4%
1,000.0
Liquidity Ratios
0 0
Leverage Ratios
Efficiency Ratios
Market capitalization (INR Mn) 1,96,440.5 Total Asset Turnover 1.2x 1.1x 1.1x 1.2x

Public: Domestic Company – KPR Mill Limited (Continued)

100% 100%
1.35% 1.33%
2.70% 2.69%
90%
95% 80% 42.04% 35.06% 36.72%

43.43%
7.46%
10.17% 70%
14.06% 13.38%
90% 60%
50%
85% 40%
30% 64.94% 63.28%

89.83% 56.57% 57.96%
87.14%
80% 84.58% 85.29% 20%
10%
75% 0%
Textile Sugar Others India Overseas

Public: Domestic Company – Nitin Spinners Limited

• Nitin Spinners Limited is one of leading manufacturer of cotton yarn, knitted fabrics and
Nitin Spinners Limited finished woven fabrics in the country
16-17 Km. Stone Chittor Road, • Established in 1992, the company is headquartered in Bhilwara (Rajasthan)
Corporate address Hamirgarh District • The company’s first plant is in Bhilwara – the ‘Textile City of India’, and the second
Bhilwara – 311 025 plant, an integrated Textiles Complex, is situated at Begun, District Chittorgarh
Rajasthan, India (Rajasthan)
Tel No. +91-18-00-4251-199 • The plants are connected to all the major cities of the country, with proximity to raw
material sources and accessibility to modern shipping ports
Fax No. NA • Nitin Spinners, an ISO 9001:2015 certified company and a Government of India
Website www.nitinspinners.com recognized export house, is also one of India’s largest producers of 100% Cotton and
Blended Yarn and Fabrics with exports to more than 50 countries across the globe
Year of incorporation 1911 • The company also possesses environment and energy management system
Stock exchange: Ticker NSEI: NITINSPIN certifications ISO 14000 and ISO 50001, OSHAS for occupational safety and SA 8000 for
social accountability
• The company also has a strong presence in R&D on developing value-added products
combined with systematic processes and a robust distribution network to create value
Products/Services for both global and domestic client base
100% Cotton Ring Spun Carded Yarns from Ne 12 to Ne
50, 100% Cotton Ring Spun Yarns from Ne 12 to Ne 30,
100% Cotton Compact Ring Spun Combed Yarns from Ne Key people
12 to Ne 100, 100% Cotton Compact Ring Spun carded Name Designation
Yarns from Ne 12 to Ne 30,, Core Spun Yarns
Yarns
Compact Core Spun Yarns, ‘S’ & ‘Z’ Twist Yarns R.L. Nolkha Chairman
Dye-able cheese/cones – Soft Package, 100% Organic
Dinesh Nolkha Managing Director
Cotton Yarns and Blends, BCI/TBC Certified Yarns, Supima
and Giza Certified Yarns, Zero Twist Yarn for Towel Nitin Nolakha Joint Managing Director
Eli Twist Yarns (Siro Yarns)

Public: Domestic Company – Nitin Spinners Limited (Continued)
Knitted fabrics Single jersey, lycra blended fabrics, pique structures, interlock structures, rib structures, 3 T fleece fabrics
100% Cotton, Cotton Spandex Fabrics, Poly/Cotton, Poly/Cotton Spandex Fabrics, RFD, Bleached, Dyed, Print and Yarn Dyed Fabrics
with Various Special Finishes like, Teflon, Wrinkle Free, Water Repellant, Nano Care, Soil Release, Anti Bacteria Finish, Aero Finish,
Finished and printed fabrics
Bio Polish etc., Various Weaves -Twills, Gabardines, Broken Twill, Ripstop, Canvas, Mattie’s, Ducks, Plain Tussor, Dobby, Cord,
Ottoman, etc., Health & Eco – Friendly Fabrics made from BCI/Organic Cotton
Major certifications:
• GRS Certification for use of Recycled fibres

•ISO 9001 : 2015 Quality Systems
• BCI Certificate for Better Cotton Initiative, GOTS and OCS certificate for Organic Cotton,
•ISO 14001 Environment Management
Certifications for use of Supima, Giza, Cotton USA, Cotton Australia
•ISO 50001 Energy Management
•OHSAS 18001 Occupational Safety Systems
•OEKO Tex Certificate
•SA 8000 Social Accountability

Gross Margin % 37.0% 35.9% 41.6% 45.1%
INR Mn
30,000.0 26,923.2 3,500.0 Net Income Margin % 5.2% 1.7% 4.2% 12.1%
25,000.0 3,000.0 EBITDA Margin % 14.3% 11.8% 15.8% 24.2%
EBITA Margin % 10.0% 6.2% 10.2% 21.0%
3,261.4
2,500.0
20,000.0 16,244.1 EBIT Margin % 10.0% 6.2% 10.2% 21.0%
14,380.6 2,000.0
15,000.0 12,425.1 Return on Assets % 6.5% 3.6% 6.3% 20.1%
1,500.0 Return on Capital % 7.0% 3.9% 6.8% 22.8%
10,000.0
1,000.0 Return on Equity % 14.3% 4.9% 13.0% 45.3%
238.2
641.1
688.7
5,000.0 500.0 Return on Common Equity % 14.3% 4.9% 13.0% 45.3%
Liquidity Ratios
0 0
FY 2019 FY 2020 FY 2021 FY 2022
Leverage Ratios
Efficiency Ratios


100%
100%
90%
90%
80%
80% Nitin Spinners Limited has been solely
operating textiles for the last four years 70% 54.46%
70% 62.58%
67.93% 72.56%
60% 60%
50% 100.00% 50%

40% 40%
30%
30%
20% 45.54%
20% 37.42%
10% 32.07% 27.44%
10%
0%
FY 2022 0%
FY 2019 FY 2020 FY 2021 FY 2022
Textile
India Outside India

Public: Domestic Company – Page Industries Limited

• Page Industries is a value driven, fully integrated manufacturing, marketing, distribution
Page Industries Limited
• and retail company located in Bangalore, India
Umiya Business Bay - Tower - 1, 7th Floor, Cessna
• The company is the exclusive licensee of JOCKEY International Inc. (USA) for
Corporate address Business Park,
manufacture, distribution and marketing of the JOCKEY® brand in India, Sri Lanka,
Kadubeesanahalli, Varthur Hobli, Bengaluru-
Bangladesh, Nepal, UAE, Oman and Qatar
560103
• Page Industries Limited is also the exclusive licensee of Speedo International Ltd. for the
Tel No. +91-22-6284-1505 manufacture, marketing and distribution of the Speedo brand in India
• At present, Jockey International, Inc. is active in more than 140 countries, marketing
Fax No. +91-22-3078-8580
underwear, socks, thermals, sleepwear, activewear, sportswear, lounge wear, men's,
Website www.pageind.com women's and children's ranges
• As of March 2023, the company had workforce of 20,000+ people with manufacturing
Year of incorporation 1992 operations spread over fifteen state-of-the art manufacturing complexes in Bangalore,
Stock exchange: Ticker NSE:PAGEIND Hassan, Mysore, Gowribidanur, Tiptur and Tirupur
• The company also promotes pan India distribution encompassing over 50,000 plus retail
outlets in 1,800 cities and towns with 470+ Exclusive JOCKEY® brand outlets across
India
Products/Services
Melange, gassed, mercerised, MVS, slub, functional, acrylic, Key people
Yarns fancy, corespun , super fine, cellulose, recycled siro, jaspe, hand
Name Designation
knitting yarns, sustainable yarns
Piece dyed, yarn dyed, prints, fiber blends, weave, specialty Arif Vazirally Independent Director.
Fabrics
finishes C Murugesh Company Secretary and Compliance Officer.
Garment Casual wear, sports wear, active wear, sleep wear, work wear Gagan Sehgal Chief Operating Officer

Public: Domestic Company – Page Industries Limited (Continued)
Key ratios

Gross Margin % 57.3% 54.5% 54.5% 55.2%
INR Mn 38,864.7
45,000.0 6,000.0 Net Income Margin % 13.8% 11.7% 12.0% 13.8%
40,000.0 EBITDA Margin % 21.8% 17.3% 17.6% 19.4%
5,000.0
35,000.0 29,455.4 EBITA Margin % 20.8% 16.2% 16.5% 18.5%
28,522.0 28,329.6
30,000.0 4,000.0 EBIT Margin % 20.8% 16.2% 16.5% 18.5%
25,000.0
5,365.3
3,000.0 Return on Assets % 26.8% 20.9% 18.1% 23.7%
3,939.4
20,000.0
15,000.0 2,000.0
3,432.2
Return on Equity % 48.6% 43.0% 40.0% 54.4%
3,405.8
10,000.0
5,000.0
Liquidity Ratios
0 0
FY 2019 FY 2020 FY 2021 FY 2022
Leverage Ratios
Market capitalization (INR Mn) 4,06,699.8

Public: Domestic Company – Page Industries Limited (Continued)
100% 0.44% 0.43% 0.46% 0.46%

100%
90%
90% Page Industries Limited has been solely
80%
operating manufacturing, distribution
80%
and marketing of garments for the last 70%
70% four years
60%
60%
100.00% 50% 99.56% 99.57% 99.54% 99.54%
50%
40%
40%
30% 30%
20% 20%
10% 10%
0% 0%
FY 2022 FY 2019 FY 2020 FY 2021 FY 2022
Manufacturing, distribution and marketing of garments
India Rest of the world

Public: Domestic Company – Raymond Limited

• Raymond is a leading company with a significant presence in the textile and apparel
Raymond Limited
sector and diverse segments such as consumer care, realty, and engineering in national
Raymond Limited,
Corporate address and international markets
New Hind House, Narottam Morarjee Marg,
• Raymond Limited was first incorporated as the Raymond Woolen Mill in 1925
Ballard Estate, Mumbai – 400001
• With its 97-year-old expertise the company is a textile powerhouse with modern
Tel No. +91-22-3366-7777 infrastructure and strong fiber-to-fabric manufacturing capabilities
• The company is also the fastest-growing fashion fabric brand
Fax No. +91-22-2653-1122
• Raymond offers an exquisite range of shirting and suiting fabrics across a surplus of
Website www.raymond.in options such as worsted fabrics, cotton, wool blends, linen and denim
• The ethnic culture, exquisite clothing and the comfort of couture in each of its brands -
Year of incorporation 1944 Park Avenue, Raymond Ready To Wear, ColorPlus and Parx Ethnix has gained immense
Stock exchange: Ticker NSEI: RAYMOND popularity among consumers in the past few decades
• The company also has remarkable participation in the denim market, as one of the main
producers and preferred suppliers of superior quality, ‘ring denim’ to some of the
world's most prestigious jeanswear companies
Products/Services
Suiting, shirting, garmenting, high-value cotton shirting, Key people
Lifestyle retail – the Raymond shop, Ethnix by Raymond, custom
Name Designation
tailoring, Park Avenue, Colorplus, Parx
Gautam Hari Singhania Chairman
Realty TenX Habitat, the Address by GS
Consumer care Perfumes, deodorants, premium luxe collection Rakesh Darji Company Secretary
Denim Raymond high-quality ring denims, Raymond UCO denims S L Pokharna Non Executive Director

Public: Domestic Company – Raymond Limited (Continued)
Key ratios

Gross Margin % 42.6% 41.2% 35.4% 39.1%
70,000.0 INR Mn 3,000.0
1,961.3 2,603.5 Net Income Margin % 2.6% 3.0% (8.6%) 4.2%
60,000.0 1,679.8 2,000.0 EBITDA Margin % 9.1% 6.3% (4.0%) 10.4%
EBITA Margin % 6.2% 3.1% (9.6%) 7.9%
50,000.0 1,000.0
64,823.7 EBIT Margin % 6.2% 3.1% (9.6%) 7.9%
65,822.8
61,785.1
40,000.0 0 Return on Assets % 4.0% 1.8% (2.9%) 4.3%
Return on Capital % 5.8% 2.5% (4.1%) 6.5%
30,000.0 (1,000.0)
Return on Equity % 8.9% 9.0% (13.1%) 11.5%
20,000.0 (2,000.0) Return on Common Equity % 8.9% 9.1% (13.3%) 11.7%
34,464.7
10,000.0 (2,970.4) (3,000.0) Liquidity Ratios
0 (4,000.0) 0.4x 0.4x 0.6x 0.5x
Quick Ratio
FY 2019 FY 2020 FY 2021 FY 2022
Leverage Ratios
Interest Coverage 1.8x 0.7x NM 2.1x
Market capitalization (INR Mn) 82,774.4

Public: Domestic Company – Raymond Limited (Continued)

100%
0.29% 0.16% 17.73% 16.72%
100%
3.74%
0.25% 2.60% 0.17% 4.00%
0.24% 90%
21.91% 19.79%
3.07% 10.87%
5.80% 5.55% 5.60%
80%
11.25% 9.76% 4.80%
80% 12.45% 7.68% 70%
15.57% 11.14%
23.79% 60%
23.90%
60% 12.95% 13.69% 50%
9.36% 9.18% 7.31% 8.79% 40% 82.27% 83.28% 80.21%
78.09%
40%
30%
45.53% 44.57% 20%

20% 43.07% 42.87%
10%
0% 0%
Others Real Estale and Developmenl of Property
Auto Components Tools & Hardware India Rest of the World
Garmenting Apparel
Shirting Textile

Public: Domestic Company – Rupa and Company Limited

• Rupa is one of the leading Knitwear brands in India with an entire range of knitted
Rupa and Company Limited
garments from comfort innerwear to cool casual wear
Corporate address Ho Chi Minh Sarani, Metro Tower,
• In the past few decades, the company has evolved to become a pioneer in the
8th Floor, Kolkata- 700071
innerwear and outerwear business in India and a leading brand in global markets with
Tel No. +91-22-6166-0001 millions of customer base
• The company has huge customer base both in terms of volume as well as technologies
Fax No. +91-22-6713-2403
and product innovations
Website www.rupa.co.in • Rupa has a daily capacity to produce over 700,000 pieces of finished goods
• The company’s product range are made from the finest yarns sourced from across the
Year of incorporation 1985 globe
Stock exchange: Ticker BSE: 533552 • The company also uses imported technology for dyeing and bleaching to maintain
competitive quality standards
• As of January 2023, the company has invested in considerable research programmes to
produce environment-friendly clothes and minimize carbon footprints
• With quality and durability, Rupa brands are also integrated across the hosiery
(stockings, socks, and knitted underclothing) value chain
Key people
Products/Services
Name Designation
Prahlad Rai Agarwala Chairman and Whole-time Director
Brief, vests, thermals (Frontline, Euro, Jon, Bumchums,
Clothing range
Torrido, Thermocot, Softline, Macroman), socks (Footline) Ghanshyam Prasad Agarwala Vice Chairman
Kunj Bihari Agarwal Managing Director

Public: Domestic Company – Rupa and Company Limited (Continued)
Key ratios

Gross Margin % 56.3% 58.5% 52.9% 56.5%
16,000.0 INR Mn 2,500.0 Net Income Margin % 6.5% 6.4% 13.4% 13.0%
14,000.0 1,918.4 EBITDA Margin % 13.1% 11.3% 19.3% 18.0%
1,752.6
741.8 2,000.0 EBITA Margin % 11.9% 9.9% 18.6% 17.3%
12,000.0
14,741.4
EBIT Margin % 11.9% 9.8% 18.6% 17.3%
10,000.0 1,500.0
13,126.7
Return on Assets % 8.9% 5.9% 14.0% 11.6%
11,486.5
6,000.0 1,000.0 Return on Equity % 14.2% 11.0% 26.8% 23.8%

9,746.4
619.0
500.0 Liquidity Ratios
2,000.0
0 0
FY 2019 FY 2020 FY 2021 FY 2022
Leverage Ratios

Public: Domestic Company – Rupa and Company Limited (Continued)
Key business segments
100% 2.57% 1.59%

2.41% 2.24%
100%
90%
90%
Rupa and Company Limited has been 80%
80% solely operating in hosiery products for
70% the last four years 70%
60% 60%
50% 100.00% 50% 97.59% 97.43% 98.41% 97.76%

40% 40%
30%
30%
20%
20%
10%
10%
0%
FY 2022 0%
FY 2019 FY 2020 FY 2021 FY 2022
Hosiery products
India Outside India

Public: Domestic Company – Trident Limited

• Trident Limited, part of the Trident Group is a leading manufacturer of yarn, bath linen,
Trident Limited
bed linen, paper, chemicals and captive power
Corporate address Trident Group,
• The company has state-of-the-art manufacturing facilities in Barnala, Punjab and Budni,
Sanghera – 148101, India
Madhya Pradesh
Tel No. +91-22-2274-0841 • Trident Limited (Formerly known as Abhishek Industries Limited) was incorporated on
April 18, 1990
Fax No. +91-22-2285-5348
• Presently, the company is engaged in manufacturing, trading and selling of textiles like
Website www.tridentindia.com yarn, terry towels & bedsheets and paper and chemicals
• The company's yarn plant which produces both cotton and acrylic yarn is located at
Year of incorporation 1990 Sanghera, Punjab
Stock exchange: Ticker NSEI: TRIDENT ▪ The products are used in hosiery (stockings, socks, and knitted underclothing), fabrics,
etc.
• For marketing and exporting up to 50% of its cotton production, the company has a
contract with Sagatex International, UK
• The company's Second Unit i.e Unit II has an installed capacity of 43,392 Spindles for
manufacture of dyed cotton, melange, acrylic and blended yarn besides carded and
combed cotton yarn
▪ The cost of the project amounts to INR 950 Mn which was financed by term loans,
rights issue and internal accruals
Products/Services Key people

Category Products/Services Name Designation
Bed Variable sizes of bedsheet sets Mr Rajiv Dewan Chairman

Mr Dinesh Kumar Mittal Independent Director
Bath Quick absorbent bath towel sets
Mr Kapil Ghorse Non-Executive Non-Independent Director

Public: Domestic Company – Trident Limited (Continued)
Paper Copier paper, non-surface sized paper, surfaced paper

Greige - basic yarn (combed, carded, open-end, airjet), premia yarn (cellulosic blended, functional polyester, 100% cellulosic,
Yarn
sustainable), macaron yarn (blended, basic, fancy, special effect, compact, specialty, double count), delite yarns
Chemicals Laboratory reagent grade sulphuric acid, battery and commercial grade sulphuric acid
Geographical distribution of revenue (in %) Major clientele

100%
90%
80%
70% 57.00% 56.00%
68.00% 66.00%
60%
50%
40%
30%
20% 43.00% 44.00%
32.00% 34.00%
10%
0%
FY 2019 FY 2020 FY 2021 FY 2022
Domestic Exports

Key ratios

Gross Margin % 53.6% 54.0% 54.9% 51.7%
80,000.0 INR Mn 8,337.5 9,000.0 Net Income Margin % 7.1% 7.2% 6.7% 11.9%
70,000.0 8,000.0 EBITDA Margin % 19.9% 17.3% 17.8% 21.3%
60,000.0 7,000.0 EBITA Margin % 13.1% 10.5% 10.7% 16.7%
3,717.7
3,397.0 6,000.0 EBIT Margin % 13.1% 10.5% 10.7% 16.7%
69,976.6
50,000.0 3,043.9
5,000.0 Return on Assets % 7.0% 5.2% 5.2% 11.9%
52,486.0

4,000.0
47,276.7
30,000.0 Return on Equity % 13.0% 11.3% 9.6% 23.2%

3,000.0
45,306.2
2,000.0
Liquidity Ratios
10,000.0 1,000.0
0 0 0.5x 0.4x 0.3x 0.4x
Quick Ratio
FY 2019 FY 2020 FY 2021 FY 2022
Leverage Ratios
Market capitalization (INR Mn) 1,47,925.8 Fixed Asset Turnover 1.3x 1.2x 1.2x 1.8x

100% 100%
90% 90% 24.15%

27.48% 25.59% 26.32%
80% 80%
70% 70%
60% 81.01% 80.49% 60%

84.46% 85.99% 33.06%
31.96%
50% 50% 45.30% 41.45%
40% 40%
30% 30%
20% 20% 40.55% 41.35%

30.55% 32.23%
10% 18.99% 19.51% 10%
15.54% 14.01%
0% 0%
Paper & Chemicals Textiles India United States of America (USA) Rest of The World

Public: Domestic Company – Vardhman Textiles Limited

• Vardhman Textiles Limited is one of the leading textile manufacturers in the country
Vardhman Textiles Limited
• The company is committed to sustainability with initiatives directed at long-term
Corporate address Chandigarh Road,
positive impact through their sustainability framework 'PRO - Proactively Responsible
Ludhiana, Punjab-141010, India
Organisation’.
Tel No. +91-22-2289-2000 • Vardhman is India's largest vertically integrated textile manufacturer with multiple
production facilities across India
Fax No. +91-22-2264-2787
• The company not only offers its clients wide range of services with sustainable products
Website www.vardhman.com due to the complete in-house control over each stage of production
• The company is a prime producer and exporter of premium quality yarns across EU,
Year of incorporation 1919 Japan, USA and Asia; driven by continuous technological up-gradation and customer-
Stock exchange: Ticker BSE : 502986 driven innovation
• With 1,550 looms, Vardhman has a weaving capacity of 220 million metres and fabric
processing capacity of 180 million metres per annum
Products/Services
Category Products/Services Key people
Melange, gassed, mercerised, MVS, slub, functional, Name Designation
Yarns acrylic, fancy, corespun , super fine, cellulose, recycled
siro, jaspe, hand knitting yarns, sustainable yarns Shri Paul Oswal Chairman and Managing Director
Piece dyed, yarn dyed, prints, fiber blends, weave, Sanjay Gupta Company Secretary and Compliance Officer
Fabrics
specialty finishes
Subash Khanchand Bijlani Independent Director

Public: Domestic Company – Vardhman Textiles Limited (Continued)
Acrylic fiber VARLAN® (non-shrinkable, high shrinkage, medium shrinkage, very high shrinkable)
CAD system (Gerber), automated spreading machine (Gerber), pinning and cutting (Ngai Shing), fusing (Veit Keinneggeser, Kobe),
Garments press collar and cuff (Ngai Shing), high-speed and automated stitching machine (Juki), steam press (Naomoto), body press (Veit
Keinneggeser), tape fusing for non-iron shirts (PMM), baking machine (Naomoto), fog jet (Jeanologia E-flow) for casual wash
Carbon steel (plain carbon, carbon manganese), case hardening steel (low carbon %:chrome, chrome manganese, SCM category,
nickel chrome, chrome-moly), through hardening steel ( medium carbon %: chrome, moly, chrome-moly, SCM category,
Special steels
chrome/nickel moly steel), others (boron, micro alloyed, vanadium, nitriding, ball bearing, free/semi free cutting, spring, high
titanium)

Gross Margin % 44.6% 44.0% 43.9% 49.9%
INR Mn
1,20,000.0 18,000.0 Net Income Margin % 10.6% 8.6% 6.7% 16.1%
96,223.4 16,000.0 EBITDA Margin % 17.6% 14.1% 13.4% 23.7%
1,00,000.0
14,000.0 EBITA Margin % 14.0% 9.1% 7.5% 19.9%
80,000.0 68,779.2 67,350.0 12,000.0 EBIT Margin % 14.0% 9.1% 7.5% 19.9%
15,468.9
61,398.7
10,000.0
60,000.0 Return on Assets % 7.0% 4.2% 3.0% 11.6%
8,000.0
7,307.2
Return on Capital %
4,143.5
7.8% 4.7% 3.3% 12.9%
40,000.0 6,000.0
5,775.2
Return on Equity % 13.8% 10.0% 6.7% 21.5%

4,000.0
2,000.0
Liquidity Ratios
0 0
Leverage Ratios
Efficiency Ratios


100% 100%
99% 90%
3.13% 80% 38.15% 39.13%
98% 46.29%
4.91% 4.51% 48.55%
70%
97% 5.62%
60%
96%
50%
95%
40%
94% 96.87% 61.85%
30% 60.87%
53.71% 51.45%
95.09% 95.49%
93% 20%
94.38%
92% 10%
91% 0%
Textiles Acrylic Fibre India Outside India

Public: Domestic Company – Welspun India Limited

• Welspun India Limited is one of India's fastest-growing global conglomerates with
Welspun India Limited
businesses in line pipes, home textile products, infrastructure, warehousing, steel, oil &
Welspun City, Village Versamedi,
Corporate address gas, advanced textiles and flooring solutions
Taluka Anjar, District Kutch,
• With their global presence in over 50 countries and a strong team of over 26,000 home
Gujarat - 370110
textile manufacturers in India spanning varied ethnicities, cultures, and geographies, the
Tel No. +91-22-2289-2000 company has excelled global leadership in home textile products and line pipe
• The company strives to provide their customers with an experience through innovation
Fax No. +91-22-2264-2787
and technology
Website www.welspunindia.com ▪ The company offers innovative products, based on extensive consumer research
• The company has leadership in bed, bath, and flooring, with the widest product
Year of incorporation 1919 portfolio
Stock exchange: Ticker BSE : 514162 • At present, the company has the highest market share in the US, and hold a dominant
position in India and the UK
• Welspun is also the biggest exporter of home textiles in India with zero dependence on
fresh water for manufacturing
Products/Services
30+ unique and innovative patents such as Hyrgrocotton®
Retail solutions
and Wel-TrakTM
Innovative suite of products such as high-quality towels, Key people
Hospitality solutions
home textiles etc. Name Designation
A premium offering with 'Spaces'- in the mass premium
Balkrishan Goenka Chairman
Welspun retail category, and affordable quality offerings with 'Welspun' -
for the mass-market category Dipali Goenka Joint Managing Director and Chief Executive Officer
Complete range of click n lock tiles, carpet tiles, Pradeep Poddar Independent Director
Welspun flooring
broadloom carpets, and artificial grass

Public: Domestic Company – Welspun India Limited (Continued)
Gross Margin % 47.7% 50.0% 50.1% 44.4%
1,00,000.0 INR Mn 6,011.6 7,000.0 Net Income Margin % 3.2% 7.5% 7.4% 6.5%
90,000.0 EBITDA Margin % 16.6% 17.8% 18.0% 14.4%
6,000.0
80,000.0 5,073.7 5,396.7 EBITA Margin % 10.1% 11.4% 12.4% 10.3%
70,000.0 2,098.3 5,000.0
93,130.0
EBIT Margin % 10.1% 11.4% 12.4% 10.3%
60,000.0 4,000.0 Return on Assets % 5.5% 6.0% 6.7% 6.6%
65,266.2
50,000.0
73,401.8
67,410.9
40,000.0 3,000.0
Return on Equity % 8.2% 17.8% 16.2% 15.5%
30,000.0 2,000.0 Return on Common Equity % 7.8% 17.6% 16.3% 15.8%
20,000.0 Liquidity Ratios
1,000.0
10,000.0 Current Ratio 1.3x 1.2x 1.3x 1.4x
0 0
FY 2019 FY 2020 FY 2021 FY 2022
Leverage Ratios
Efficiency Ratios

Public: Domestic Company – Welspun India Limited (Continued)

100% 100%
0.20% 1.29%
90%
98% 4.28% 80%
6.99% 70%
96%
60%
86.88% 85.89% 84.39% 82.78%
94% 99.80% 50%
98.71%
40%
92% 95.72% 30%
93.01% 20%
90%
10% 17.22%
13.12% 14.11% 15.61%
88% 0%
Home Textiles Flooring India Outside India

Chapter 12: Recent Developments

Recent Developments
Date Category Description Impact
• Flipkart Foundation under Indian ecommerce company Flipkart Group has announced a new
partnership with the All India Artisans and Craftworkers Welfare Association (AIACA) to launch
a project called Greening the Way towards Success—Creating Sustainable Enterprises
April 13, 2023 Collaboration • The project aims to establish a sustainable and replicable model that can cater the Medium
development and promotion of textile and handicraft-based green enterprises in India
▪ The primary objective of this initiative is to empower crafts persons, particularly women
artisans from marginalized communities, and ensure their social well-being
• The textiles ministry announced the launch of two Quality Control Orders (QCOs) for 31 items
under Phase I of the launch
• The list comprises 19 geotextiles, a strong synthetic fiber used in projects such as highways and
April 11, 2023 Guidelines imposition High
dams to stabilize loose soil and prevent erosion, and 12 protective textiles, used to protect
against natural or man-made adverse events like heat, storms, ultraviolet rays and radiation
• As a part of the Make in India initiative, the Indian government has planned to set up seven
mega textile parks under PM Mega Integrated Textile Regions and Apparel (PM MITRA)
scheme
April 08, 2023 Capacity expansion • These parks will come up in seven states -- Tamil Nadu, Telangana, Karnataka, Maharashtra, High
Gujarat, Madhya Pradesh and Uttar Pradesh
• PM MITRA mega textile parks will boost the textiles sector in line with 5F (Farm to Fiber to
Factory to Fashion to Foreign) vision

Recent Developments (Continued)
• Tamil Nadu has announced plans to build a textile city near Chennai
• The state government has also introduced 22 policy measures for the handloom and textile
sectors, including the creation of a Tamil Nadu Pavilion in major international exhibitions to
April 04, 2023 Expansion High
increase market opportunities and boost the state’s textile sector
• Additionally, the government has allocated funds for aiding international technical textile
conference, R&D facilities, workshops, and skill development for technical textiles
• Reliance Industries has completed the acquisition of textile company Sintex Industries which
had been agreed in February 2022 and approved by the National Company Law Tribunal
(NCLT)
March 29, 2023 Acquisition Medium
▪ The deal was closed at INR 35.67 Bn
• The acquisition will provide a boost to public sector banks as it will result in a full write back,
enhancing their bottom line
• Reliance Industries Ltd has acquired polyester chips and yarn manufacturer Shubhalakshmi
Polyesters Limited for INR 15.92 Bn
• The deal is subject to approval of the Competition Commission of India (CCI) and the
March 20, 2023 Acquisition Medium
respective lenders of SPL and SPTex.
• The acquisition will strengthen the textile manufacturing business of Reliance Group

Recent Developments (Continued)
• The Indian Institute of Technology, Ropar has developed an innovative green technology -- air
nano bubble
• The air nano bubble dispersed in water can reduce the water consumption and chemical
dosage by 90-95% which ultimately saves 90% of the energy consumption as well
February 04, 2023 Technological innovation • Besides saving water consumption, water after processing with a nano bubble machine can be High
reused
▪ Treatment of garment through this patented technology helps in maintaining its real color for
outdoor usage
▪ It helps in obtaining 2-D effects, easy care, water repelling, and softening of fabric
• An investment of about INR 15.36 Bn has been made so far in the textiles industry under the
Production-Linked Incentive (PLI) Scheme
December 27, 2022 Investment High
• For the textile industry, the government has launched the scheme with an approved financial
outlay of INR 106.83 Bn for textiles to achieve size and scale and to become competitive
• India Ratings and Research (Ind-Ra) proposed India’s free trade agreement (FTA) signed with
Australia which will be beneficial for Indian garment and home textile exporters
• Australia’s zero import duty access to India (earlier 5%) will provide a level playing field with
December 08, 2022 Memorandum imposition exports from China, Vietnam and Bangladesh High
• The availability of domestic sources of cotton and long-term visibility of demand (combined
with other FTAs being signed) could encourage domestic market players to diversify exports
and manage demand recurrence better

Chapter 13: Appendix

Appendix
RESEARCH METHODOLOGY
Problem identification Defining objectives Information gathering Analysis Reporting

The analyst identifies key questions The analyst then defines the The next stage of research is The qualitative and quantitative The analyst then creates a report
that he/she would like to address research objectives and conducted utilizing secondary and findings from the previous stages with the support of his findings and
from the market study. methodologies which form the basis primary sources of information. are brought together by specialists analysis, with help from an editorial
of the research. to perform a rigorous analysis. The team.
He/she describes the major They conduct an in-depth study of market trends, drivers, and
challenges that would help clients the Indian market, identifying and opportunities obtained during the
understanding the industry, all over understanding its key stakeholders, analysis are compared with
India, or for a specific region. drivers, trends, challenges, and economic indicators, sector growth
opportunities, covering major rates, population index, among
market segments others, to ensure consistency of the
data. After consistency is ensured,
Primary research complements the these historical and present
secondary research, as and when indicators help to understand how
required, as it helps gain insights the market will perform in the
from the industries directly, by future. The proprietary forecasting
communicating with senior model factors in all these indicators
executives, key opinion leaders, and to predict the future market
independent consultants who are accurately.
experts in their industries, or
specific industry sectors.

About Netscribes
Netscribes is a global market intelligence and content services provider that helps
corporations achieve strategic objectives through a wide range of offerings. Our solutions
rely on a unique combination of qualitative and quantitative primary research,
secondary/desk research, social media analytics, and IP research. For more than 15 years,
we have helped our clients across a range of industries, including technology, financial
services, healthcare, retail, and CPG. Fortune 500 companies, as well as small- to mid-size
firms, have benefited from our partnership with relevant market and competitive insights
to drive higher growth, faster customer acquisition, and a sustainable edge in their
business.
For more information, visit www.netscribes.com or contact info@netscribes.com
Connect with us
Proprietary and Confidential, Copyright © 2023, Netscribes, Inc. All Rights Reserved
www.netscribes.com
Contact: info@netscribes.com

Office Locations and Geographical Coverage
Get in touch with us:

Mumbai
Office No. 504, 5th Floor, Lodha
Supremus, Lower Parel,
Mumbai 400013,
Gurgaon Maharashtra, India
Phone: +91‐22‐4098-7600
New York Kolkata USA
41 East, 11th Street,
Mumbai New York
NY10003, USA
Singapore
Phone: +1-917-885-5983
Kolkata
Millennium City IT Park, Tower - 1,
DN - 62, DN Block, Sector - V,
Salt Lake City, Kolkata - 700091,
West Bengal, India
Phone: +91- 33- 4027-6200
Singapore
Netscribes Global PTE. Limited
10 Dover Rise, #20-11, Heritage View,
Singapore (138680)
Office locations Geographical Coverage

Disclaimer
This report is prepared by Netscribes (India) Private Limited (”Netscribes”), a market intelligence and content service provider. The content of this report is developed in accordance with
Netscribes’ professional standards. Accordingly, the information provided herein has been obtained from sources which are reasonably believed to be reliable. All information provided in
this report is on an “as-is" and an "as-available” basis, and no representations are made about the completeness, veracity, reliability, accuracy, or suitability of its content for any purpose
whatsoever. All statements of opinion and all projections, forecasts, or statements relating to expectations regarding future events represent Netscribes’ own assessment and
interpretation of information available to it. All liabilities, however arising, in each of the foregoing respects are expressly disclaimed.
This report is intended for general information purposes only. This report does not constitute an offer to sell or issue securities, an invitation to purchase or subscribe for securities, or a
recommendation to purchase, hold, sell, or abstain from purchasing, any securities. This report is not intended to be used as a basis for making an investment in securities. This report does
not form a fiduciary relationship or constitute investment advice. Nothing in this report constitutes legal advice. The information and opinions contained in this report are provided as of
the date of the report and are subject to change. Reports may or may not be revised in the future. Any liability to revise any out-of-date report, or to inform recipients about an updated
version of such report, is expressly disclaimed.
A bonafide recipient is hereby granted a worldwide, royalty-free, enterprise-wide limited license to use the content of this report, subject to the condition that any citation from this report
is properly referenced and credited to Netscribes. Nothing herein conveys to the recipients, by implication or by way of estoppel, any intellectual property rights in the report (other than
the foregoing limited license) or impairs Netscribes’ intellectual property rights, including but not limited to any rights available to Netscribes under any law or contract.
To the maximum extent permitted by law, all liabilities in respect of this report and any related material is expressly disclaimed. Netscribes does not assume any liability or duty of care for
any consequences of any person acting, or refraining to act, by placing reliance on the basis of information contained in this report.
All disputes and claims arising in relation to this report will be submitted to arbitration, which shall be held in Mumbai, India under the Indian Arbitration and Conciliation Act. The
exclusive jurisdiction of the courts in Mumbai, India, applies to all disputes concerning this report and the interpretation of these terms, and the same shall be governed by and construed
in accordance with Indian law without reference to the principles of conflict of laws.
Proprietary and Confidential, Copyright © 2023,

2021, Netscribes, Inc. All Rights Reserved
www.netscribes.com
Contact: info@netscribes.com


Textile Manufacturing Industry in India 2023 Part-I

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Textile Manufacturing Industry in India 2023 Part-I

Uploaded by

Copyright:

Available Formats

Textile Manufacturing

Industry in India 2023

EMISPDF in-sga-01 from 49.36.99.219 on 2023-05-12 16:36:27 BST. DownloadPDF.

Chapter 2: Chapter 5: Chapter 7:

EMISPDF in-sga-01 from 49.36.99.219 on 2023-05-12 16:36:27 BST. DownloadPDF.

Major market players

EMISPDF in-sga-01 from 49.36.99.219 on 2023-05-12 16:36:27 BST. DownloadPDF.

| TEXTILE MANUFACTURING INDUSTRY IN INDIA 2023 8

Sex ratio of total population Population based on age group

Males per 100 females 0-14 15-24 25-49 50+

2010 2015 2020 2025 2010 2015 2020 2025

| TEXTILE MANUFACTURING INDUSTRY IN INDIA 2023 9

No. of infant deaths

2010-2015 2015-2020 2020-2025 2010-2015 2015-2020 2020-2025

Number of births Number of deaths

2010-2015 2015-2020 2020-2025 2010-2015 2015-2020 2020-2025

| TEXTILE MANUFACTURING INDUSTRY IN INDIA 2023 10

Combined literacy rate

Male Female Overall

Rural literacy rate Urban literacy rate

86.30% 89.70% 85%

2001 2011 2001 2011

| TEXTILE MANUFACTURING INDUSTRY IN INDIA 2023 11

6.79% 6.53% 81.97

Average consumer price index (CPI) inflation Unemployment rate

5.41% 5.33% 5.27%

2017 2018 2019 2020 2017 2018 2019 2020

| TEXTILE MANUFACTURING INDUSTRY IN INDIA 2023 12

Access to safe drinking water (by Indian households)

Urban Rural Total

64.18 67.20 65.13 68.45 70.43

74.41 72.41 76.93 76.39 83.03

2015 2016 2017 2018 2019 2020 2021 2022

| TEXTILE MANUFACTURING INDUSTRY IN INDIA 2023 13

EMISPDF in-sga-01 from 49.36.99.219 on 2023-05-12 16:36:27 BST. DownloadPDF.

Textile industry in India

Knitting, yarn and

Focus of the report

EMISPDF in-sga-01 from 49.36.99.219 on 2023-05-12 16:36:27 BST. DownloadPDF.

FY 2021 FY 2022 FY 2023e FY 2024e FY 2025e FY 2026e FY 2027e

Sl. No. Name of the park Location State

2. Latur Integrated Textile park Latur Maharashtra

3. Amitara Green Hi-tech Textile Park Ahmedabad Gujarat

4. Karanj Textile Park Surat Gujarat

5. Shahlon Textile Park Surat Gujarat

6. Palsana Textile Park Surat Gujarat

7. Shanti Integrated Textile Park Surat Gujarat

8. Satyaraj Integrated Textile Park Ichalkaranji Maharashtra

9. Dhule Textile Park Dhule Maharashtra

10. Shree Ganesh Integrated Textile Park Dhule Maharashtra

11. Aalishan Eco Textile Park Panipat Haryana

12. Aalishan Eco Textile Park Guntur Andhra Pradesh

13. Tarakeaswara Textile Park Nellore Andhra Pradesh

| TEXTILE MANUFACTURING INDUSTRY IN INDIA 2023 19

Sl. No. Name of the park Location State

15. Gujarat Eco Textile Park Limited Surat Gujarat

17. Fairdeal Textile Park Private Limited Surat Gujarat

18. Vraj Integrated Textile Park Limited Ahmedabad Gujarat

19. Sayana Textile Park Limited Surat Gujarat

20. Doddabalapur Integrated Textile Park Doddabalapur Karnataka

21. Metro Hi-Tech Cooperative Park Limited Ichalkaranji Maharashtra

22. Pride India cooperative Textile park Limited Ichalkaranji Maharashtra

23. Baramati Hi Tech Textile Park Limited Baramati Maharashtra

24. Purna Global Textiles Park Limited Hingoli Maharashtra