For TT’s turnover has risen by 37.56 per cent in Q1. It posted a turnover of Rs 172.38 crores and PAT of Rs. 0.94 crores. The company shifted focus from spinning to branded garments especially inner wear and casual wear. The real impact of the restructuring exercise will be visible in the third quarter. Going forward TT’s garment business is expected to grow by 30 per cent to 40 per cent, which will improve its ebitda margins and reduce the overall risk exposure to the outside environmental and economic changes happening across the globe.
The company is investing in technology to connect with the distribution channel and with its consumers - this is expected to bring in huge benefits in the days to come. Apart from the TT brand, the company’s new garment brand HiFlyer is slowing gaining market acceptance.
EBOs of TT Bazaar are expected to grow in number by at least 50 per cent. Currently the company is bearing the infrastructure cost of transition from spinning to garments. An organised company like TT is seeing many positives as it gains competitive advantage. It has a strong presence in the innerwear segment in north and east India through its flagship TT brand. It also exports yarn and fabric to 65-odd countries.