A report by CRISIL, India’s largest credit rating and research company, stated that Indian textile companies’ profitability will increase in the coming quarters due to low input costs and rising demand.
CRISIL said that the company’s valuation shows that due to the expansion of profit margins, the profitability of the company is likely to increase. We expect that the profitability of yarn and man-made fiber companies will increase in the coming quarters due to the drop in input costs and the mild demand. increase.
In the first half of this financial year, the company encountered severe pressure on profitability, which led to a significant shrinkage in the market value of the company. India is the world’s second largest supplier of textiles. The goal this year is to increase textile and apparel exports to US$33 billion.
The textile industry holds more than Rs 10,000 crore in banks, and most companies report that they have started to default on payment to banks because raw material prices have soared and demand has dropped sharply, causing their profits to shrink.
In April-October, cotton yarn production fell by 15% year-on-year, cloth production decreased by 19% year-on-year, and prices soared. Of the 226 listed companies, 187 or 83% of companies listed in the financial year were worse than last year, of which 127 had net losses.
CRISIL said that the company’s valuation shows that due to the expansion of profit margins, the profitability of the company is likely to increase. We expect that the profitability of yarn and man-made fiber companies will increase in the coming quarters due to the drop in input costs and the mild demand. increase.
In the first half of this financial year, the company encountered severe pressure on profitability, which led to a significant shrinkage in the market value of the company. India is the world’s second largest supplier of textiles. The goal this year is to increase textile and apparel exports to US$33 billion.
The textile industry holds more than Rs 10,000 crore in banks, and most companies report that they have started to default on payment to banks because raw material prices have soared and demand has dropped sharply, causing their profits to shrink.
In April-October, cotton yarn production fell by 15% year-on-year, cloth production decreased by 19% year-on-year, and prices soared. Of the 226 listed companies, 187 or 83% of companies listed in the financial year were worse than last year, of which 127 had net losses.
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