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Textile 06-03-2023

The Future of Healthcare Fabrics

06 March 2023, Mumbai

Trends and technologies

Key takeaways in the healthcare fabrics industry are:

Nanotechnology

Nanotechnology involves the manipulation of materials at the nanoscale to create fabrics with enhanced properties. In healthcare, nanotechnology use is intriguing for creating fabrics that are water-repellent/resistant, stain-resistant, and have improved incredibly antibacterial properties.

Biodegradable and Biocompatible Materials

Discovery mechanism; With the increasing focus on the aspect of sustainability, the healthcare fabrics industry is also in the process of discovering the use of biodegradable and biocompatible materials. These materials are safe for human use and can be easily broken down by natural processes/bio-degradable, lessening the environmental impact of healthcare fabrics.

Seminal

Virtual Reality and Augmented Reality

Virtual reality (VR) and augmented reality (AR) technologies have the potential to transform healthcare by providing immersive experiences for patients and healthcare providers. In the healthcare fabrics industry, VR and AR can be used to simulate the properties of fabrics and their interaction with the human body.

Artificial Intelligence; There is little doubt that Artificial intelligence (AI) has the potential to improve the efficiency and accuracy of healthcare fabrics manufacturing processes. AI can be aptly used to analyze data on fabric properties and optimize the production process/s to greatly improve quality and reduce waste and wastefulness.

On the whole, the healthcare fabrics industry is anticipated to continue to innovate and evolve to meet the emerging needs of the healthcare sector. Going forward, the growing focus on sustainability, personalized care, and infection control is expected to only improve the adoption of new materials and emerging technologies in this industry.

CREDITS: Devyani Sharma Senior Business Analyst (Textile and Fabrics)

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Textile 06-03-2023

CITI & SIMA: Self-assurance on social media report on migrant labour

06 March 2023, Mumbai

About CITI

The Confederation of Indian Textile Industry (CITI) is a prominent industry association representing the textile and clothing sector of India. CITI is a non-profit organization that aims to promote and protect the interests of the Indian textile industry, both domestically and internationally.

About SIMA

The Southern India Mills Association, well known popularly in the trade parlance by the acronym SIMA, is a Textile mills association established way back in 1956 in Coimbatore, India.

Make no mistake that the state of Tamil Nadu is a significant contributor to the overall textile industry besides being an engine of growth within the state's economy, providing employment opportunities to an incredible number of people, including illiterate, low/no skilled and poorly educated men and women. The industry has faced labor shortages in recent years, leading to the employment of migrant workers from other states.

However, certain groups and political outfits have been demanding that migrant workers from North India should not be permitted to work in Tamil Nadu. This could have a negative impact on the industrial growth of the state, and the industry leaders have called for action to be taken against troublemakers through the concerned departments.

The Chairman of the Confederation of Indian Textile Industry (CITI) and the Chairman of The Southern India Mills' Association (SIMA) jointly addressed the press, categorically iterating that there is no discrimination thus far as local and migrant workers in terms of wages and treatment is concerned. They further outlined that the industry is making special provisions of providing hostel accommodation with food based on the needs & requirements of migrant workers.

The Chairman of CITI and SIMA has also emphasized that there is no clash between local and migrant workers, and the news circulated on social media is baseless/false and not revealing the true state of affairs. They have appealed/exhorted the government to take serious action against those who are rumor mongers spreading false news and protecting the industry/ring-fence and working class while maintaining industrial peace in the state which is the best friend for growth.

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Textile 06-03-2023

Archroma: Acquisition of Huntsman Corp's textile effects business

01 March 2023, Mumbai

Archroma, a sustainable specialty chemicals and solutions provider, has completed its acquisition of the Huntsman Textile Effects business, comprising 2,300 employees across 33 countries and 10 production sites.

Heike van de Kerkhof states: “We are very proud of Archroma’s achievements in recent years".

The combined entity will have over 5,000 employees across 42 countries and 35 production sites. The two companies' product portfolios will be highly complementary, offering sustainable solutions to fashion brands and the global textile industry.

Thomas Bucher, Group Chief Finance Officer, speaking on this: “With this acquisition, Archroma is now in a position to leverage the complementarities and synergies".

The acquisition marks the third strategic acquisition by Archroma, with the previous ones being the global textile chemicals business of BASF and M. Dohmen.

Rohit Aggarwal alludes: “I am very excited to see our two leading teams unite".

Archroma has also restructured into two operating divisions: Archroma Textile Effects and Archroma Paper, Packaging & Coatings, to support its customers and business partners with the superior experience and solutions they have come to expect.

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Textile 01-03-2023

Color Jet launches new printing solution

20 February 2023, Mumbai

Color Jet has introduced a new series of printing solutions.

Earth is an advanced sustainable pigment printing solution in digital textile printing and minimises the consumption of water and energy. Earth pigment inks deliver excellent fastness properties and high printability sharpness by heat fixation comparable to the more complex processes for reactive, acid or direct disperse digital printing. These high-performance digital pigment inks work on an innovative binder technology for fast, sustainable and cost-competitive industrial textile printing on almost any type of fabric. The Earth series comes in three models, Kiloton, Purge Plus, and Osci Plus, with 32, 16 and eight inkjets powered by Konica Minolta print heads. Color Jet, the wide format digital printing technology leader, was founded in 1995. Color Jet’s digital textile machines are revolutionizing the world of textile printing with their robust performance, sustainable manufacturing, lowest downtime, high value, and return on investment. Color Jet offers an exclusive range of digital textile printers and has two manufacturing facilities and sales offices spread across seven countries, which include India, China, Bangladesh, UAE, and Sri Lanka. So far Color Jet has installed and implemented over 5,000 of its printing solutions and products across 450 cities around the world.

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Textile 20-02-2023

Color Jet launches new printing solution

3rd Global Textile Conclave: 15-17th March 2023

04 March 2023, Mumbai

The 3rd Global Textile Conclave (GTC) 2023

Organized by: the Confederation of Indian Textile Industry (CITI)

Dates: 15th,16th & 17th March, 2023

Venue: Hotel Crowne Plaza, Jaipur, Rajasthan, India.

Theme: “Strategies for Balancing Sustainability in Textile Value Chain”

Focus: Aim to cover the entire textile value chain from “FARM to FASHION“.

During the three-day event, there will be interactions with global T&C businessmen, presentations by international trade experts, buyer-seller meets, exhibitions, award functions, and the launch of special publications and reports. Separate Sessions with “Partner States”, “Partner Countries” and Senior Government Officials will also be held.

Piyush Goyal, Hon’ble Union Minister of Textiles, Commerce & Industry, Consumer Affairs, and Food & Public Distribution, has been invited to inaugurate the event as the Chief Guest, and Smt. Darshana Vikram Jardosh, Hon’ble Minister of State for Textiles and Railways, is expected to deliver the Keynote Address as the Guest of Honour.

If you are interested in attending the event, you can fill out the attached registration form and pay the nominal registration fee to meet the organizational expenses and limit the quality of participation.

About CITI

CITI's membership includes major regional and industry associations, as well as 18 major corporate members, covering the entire textile value chain from farming to the manufacturing of garments and made-ups, as well as the textile machinery industry.

CITI works towards promoting sustainable growth and development of the Indian textile industry by facilitating policy advocacy, conducting research, and organizing events and seminars. It also plays an important role in promoting exports and enhancing the competitiveness of the Indian textile industry on a global scale.

Overall, CITI is an important voice and platform for the Indian textile industry, providing a unified platform for stakeholders to come together and work towards the growth and development of the sector.

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Textile 04-03-2023

Welspun plans store openings

20 February 2023, Mumbai

Welspun opened 1000 stores in the last quarter.

This has enhanced its store count to over 10,600. The target is to reach 50,000 stores by fiscal year 2026. The company plans to deepen its reach in the domestic market by tapping smaller cities through the franchise model. The company is managing retail through MDUs with a strong sales team which visits stores and tracks sales at MDUs using the latest technology. Welspun expects exports to bounce back by the end of the next fiscal after being hit by global recession in the last few months. The retailer had raised prices due to the high incidental cost and this led to a drop in demand but retail prices have started falling with easing raw material prices and logistics costs. The brand’s licencing pact with Walt Disney for Europe, the Middle East and Africa will add another portfolio besides providing extra shelf space at top retail outlets. The company’s margin was impacted by rising cotton, coal and container costs. However, cotton and container prices have started falling while coal prices continue to remain at elevated levels. The company plans fresh capex of Rs 200 crores in renewable energy to bring down costs besides another Rs 150 crores on maintenance capex.

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Textile 20-02-2023

Khadi startups get incentives

15 February 2023, Mumbai

Khadi is fast emerging as a new and lucrative start-up avenue in India.

The worth of khadi for entrepreneurship and industry is being realized. There has been a record sale of khadi products and also a manifold increase in export of khadi. The Khadi and Village Industries Commission distributed subsidies to beneficiaries and entrepreneurs spread across the north Indian states of Punjab, Himachal Pradesh, Haryana and Rajasthan and the union territories of J&K and Ladakh.

The Khadi and Village Industries Commission through its various programs is generating employment opportunities for artisans at their doorstep in remote areas at a very low cost. There has been a rise in the monthly income of artisans by around 33 per cent and by ten per cent for weavers.

Khadi garments and outfits have assumed the status of designer items and elite wear. Uttar Pradesh will provide financial assistance for opening khadi outlets. The subsidy will vary depending on the number of outlets being opened.

Those opening 50 khadi oulets will get a Rs 2 crore subsidy. Those opening 100 outlets will get a subsidy of up to Rs 4 crores. The subsidy will increase to Rs 8 crores for 200 or more outlets and Rs 10 crores for opening 500 outlets.

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Textile 15-02-2023

Raymond targets high double-digit growth in FY23-24, aims to become debt-free by 2025

02 March 2023, Mumbai

India's largest branded textiles and apparel maker, Raymond, is aiming for high double-digit growth for the financial year 2023-24, according to the company's Group Chief Financial Officer, Amit Agarwal.

For the first nine months of the current fiscal year 2022-23, the company's consolidated revenue stood at Rs 6,145 crore, up 42 per cent from the same period in the previous year. Agarwal plans to continue reducing debt to make the company debt-free by 2025 through revenue growth and effective working capital management.

Agarwal is optimistic about the company's growth prospects, particularly in the branded textiles, branded apparel, and garmenting businesses, as well as in real estate and engineering. Raymond's order book is full until July, and Agarwal believes the company's long-standing relationships with customers, dealers, and franchise networks will help it achieve its growth targets.

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Textile 02-03-2023

Vishal Fabric Q3 results reported

20 February 2023, Mumbai

For the third quarter Vishal Fabrics’ net profit fell by 38 per cent.

Revenue for the quarter was down by ten per cent as against the corresponding period of the previous fiscal year. Despite the drop in numbers, Vishal Fabrics is confident about the long-term growth prospects for the Indian textile sector as well its capacity to raise utilization levels and get back the revenue at normalcy. Vishal Fabrics has set a target of Rs 2,000 crore topline by the fiscal year 2024 and aims to achieve it through expansion in the domestic market coupled with exports in existing and new markets. Ahmedabad-based Vishal Fabrics is a flagship company of the Chiripal group. Vishal Fabrics caters to the premium and the super-premium end of the denim segment. The company is also expanding its overseas presence by adding new markets in Latin America and Europe. Vishal Fabrics has no plans to go into garments and apparels and will be confined to the B2B segment. The denim maker is also investing in the expansion of its current capacity to increase denim production. Although the short-term headwinds may continue, the company remains confident about the long-term growth prospects for the Indian textile sector as well as its capacity to raise utilization levels and get back the revenues at normalcy.

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Textile 20-02-2023

Bombay Dyeing Q3 results reported

14 February 2023, Mumbai

For the third quarter Bombay Dyeing’s consolidated net loss narrowed to Rs 106 crores as against a loss of Rs 233 crores in the year-ago period.

The company’s revenue for the quarter rose to Rs 652 crores as against Rs 526 crores posted in the corresponding period of the previous fiscal year.

The polyester division reported Rs 393 crores revenue in the third quarter compared to Rs 384 crores a year ago while revenue from retail operations declined to Rs 11 crores from Rs 13 crores.

Wadia flagship firm Bombay Dyeing is one of the largest textile manufacturers in the country and is one of the seven producers of polyester staple fiber in the country with a market share of about 15 per cent. The company produces a wide range of specialty products, including micro fibers, super micro fibers, trilobal, super high tenacity, optically white, optical white super high tenacity, micro super high tenacity, black and black super high tenacity. Bombay Dyeing enjoys a leadership position in south India in yarns. Spinning mills’ yarn for suitings and shirtings comes from Bombay Dyeing fiber.

The company offers fabrics, home textiles and value added products and has regional offices spread throughout India. It currently has 27 company-owned stores, 3,000 multi-brand stores, and over 400 franchise stores across India.

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Textile 14-02-2023

Poly Cotton Fabric Market: Industry analysis

02 March 2023, Mumbai

Overall, the poly-cotton fabric (PCF) market is expected to witness significant growth in the coming years, driven by the increasing demand for breathable, durable, and cost-effective clothing and home textiles.

Traditionally, PCF is supposed to be a product blending typically natural cotton and synthetic polyester and can have a harmonious blend of something as a ballpark 65% cotton & 35% polyester albeit, there is no such sacrosanct & the mix is supposed to keep changing for varied types of the product spectrum.

While there are some drawbacks to using poly cotton, such as its slippery texture and moisture absorption, their benefits outweigh these drawbacks for many consumers.

North America currently dominates the market, but Asia-Pacific and Europe are expected to experience healthy growth due to the rising demand for body-fit clothing and textiles. Emerging markets in the Middle East and Africa, particularly in UAE, Kuwait, and Turkey, are expected to contribute to the growth of the poly cotton fabric market as well, particularly in the sportswear and activewear sectors.

However, the COVID-19 pandemic has had a significant impact on the global economy, and the poly-cotton fabric market is no exception.

The first six months of 2020 saw a significant slowdown in manufacturing, and it is expected to take some time for the market to fully recover. Nonetheless, as the trend toward comfortable and affordable clothing continues, the poly-cotton fabric market is likely to continue to grow in the coming years.

CREDITS: Future Market Insights (FMI) report

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Textile 02-03-2023

Arvind Q3 results reported

20 February 2023, Mumbai

For the third quarter Arvind Fashions’ net profit rose by 28 per cent.

Revenue for the quarter rose by 17 per cent as against the corresponding period of the previous fiscal year. Ebitda grew by nearly 30 per cent. With a sharp focus on execution and customer experience, the business delivered 12 per cent plus retail like-to-like sales growth during the quarter and record sell through. The company’s aim continues to be on improving profitability further and delivering a higher return on capital employed. Arvind Fashions is one of India’s leading players in the fashion segment with a portfolio of owned and licensed international brands including US Polo Association, Arrow, Flying Machine, Calvin Klein, Tommy Hilfiger, and beauty brand Sephora. Leading textile manufacturer Arvind offers the widest array of fashion brands in India. The bouquet of brands – both homegrown and global – straddles lifestyles, categories and price points. International fashion brands wanting to enter India are keen to partner with Arvind. The company’s revenue from the textiles segment contributes about 80 per cent of the company’s total revenue. Price realisations have started to trend down since the second quarter for Arvind Fashions reflecting the recent softness in raw material prices.

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Textile 20-02-2023

Kamadgiri Fashion reveals financials

Kamadgiri Fashion’s total income was Rs67.0782 crores during the period ended December 31, 2022, as compared to Rs 75.6812 crores during the period ended September 30, 2022. Net profit / loss wasRs 0.9569 crores for the period ended December 31, 2022, as against net profit / loss of Rs 0.4564 crores for the period ended September 30, 2022.EPS was Rs 1.63 for the period ended December 31, 2022, as compared to Rs 0.78 for the period ended September 30, 2022.

Total income was Rs67.0782 crores during the period ended December 31, 2022, as compared to Rs 72.9282 crores during the period ended December 31, 2021. Net profit / loss wasRs0.9569 crores for the period ended December 31, 2022, as against net profit / loss of Rs0.1568 crores for the period ended December 31, 2021.EPS was Rs1.63 for the period ended December 31, 2022, as compared to Rs0.27 for the period ended December 31, 2021. Total income was Rs212.4579 crores during the nine month period ended December 31, 2022, as compared to Rs182.6034 crores during the ninemonth period ended December 31, 2021. Net profit / loss wasRs1.2307 crores for the nine month period ended December 31, 2022, as against net profit / loss of Rs0.5918 crores for the nine month period ended December 31, 2021.EPS wasRs2.10 for the nine month period ended December 31, 2022, as compared to Rs1.01 for the nine month period ended December 31, 2021.

Textile 14-02-2023