Research And Views Archives | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

Archives... Don't Miss Anything, Ever!

Here you will find all the research and views that we post on Equitymaster. Use the tools to customize the results to suit your preference!


Arvind Mills: Past and the future

Apr 25, 2005

Arvind Mills Limited is the flagship company of Rs 20 bn (US$ 550 m) of the Lalbhai Group. It enjoys the distinction of being the world's largest exporter and Asia's largest producer of Denim. Various brands owned by Arvind include Flying Machine, Newport and Ruf & Tuf in Jeans and Excalibur in shirts. Apart from these, the company has licenses from reputed International brands like Arrow, Lee, Wrangler and Tommy Hilfiger for the Indian market.

Arvind Mills: In the ‘jeans’

Jan 27, 2005

Arvind Mills, the country's largest denim manufacturer with a market share of nearly 72% in terms of volumes sold in the domestic market, has announced robust 3QFY05 results. While the topline has grown by a decent 19% YoY, the bottomline has improved by an impressive 89% YoY. Strong denim volumes and improved realizations have helped the company boost performance.

Textiles: In the reckoning

Sep 6, 2004

After a bad FY04 (poor operating margins due to high cotton prices), textiles companies are looking forward to grab the opportunities that are expected to come in post quota regime. The table below shows the buying interest witnessed by the textile stocks in last 6 months despite indices losing ground.

Arvind Mills: On the run

Aug 11, 2004

Despite a poor show in 1QFY05 and expected pressure on margins, on account of higher raw material costs, likely to continue in the near term, textile stocks have been in the reckoning in the recent past. The buying interest, however, is owing to the big export opportunity that lies ahead of Indian companies post 2005 when global markets would be thrown open with the quota regime coming to end. In this backdrop of the potential for Indian textile majors and the recent run up in stock prices of th

Century: Not so encouraging

Dec 3, 2003

Like other major textile companies, Century's 2QFY04 results was disappointing for the investors. The topline of the company grew marginally but the bottomline turned negative as compared to profits in the same quarter last year. However, on the half yearly basis, the picture looks better as the bottomline grew by 70% YoY.

Raymond: Rupee benefits

Oct 23, 2003

Raymond, the leading producer of suiting fabrics, has reported subdued performance for the September quarter. Topline has increased by just over 9% mainly due to the increase in denim production capacity. But the bottomline has grown by around 15% mainly due to higher non-core income. Operating profits of the company have gone down by around 13% YoY.

Indian Rayon: Garment pick up

Oct 22, 2003

Indian Rayon has reported a topline growth of 14% YoY for the September quarter, aided mainly by impressive growth in garments, textile and VFY (viscose filament yarn) segments. Also, for the same period, the company has reported a substantial 73% YoY growth in its bottomline, which has been helped by extra ordinary income and a steep fall in interest cost. However, the topline growth for 1HFY04 is not very impressive, affected by the dismal performance of it VFY and textile divisions in 1QFY04.

Century: A profile

Oct 10, 2003

Century Textiles and Industries established in 1897, is a flagship company of BK Birla group. Initially, Century started as textile mill but over the years the company has diversified into rayon yarn, tyre cord, minerals/chemicals, cement, and pulp/paper. Its textile division is one of the largest units in India. Recently the company has entered into ready to wear segment too.

Arvind Mills: A review

Oct 6, 2003

Arvind Mills is the flagship company of the Lalbhai Group. It is world’s third largest and India’s largest denim producer and commands 70% domestic market share with 120 m meters of denim rolling out every year. The company is also into knitting and shirting. Apart from textiles, Arvind Mills has presence in ready-to-wear, agrochemical and telecom industry through its subsidiaries.

Arvind Mills: Improved realisations

Sep 11, 2003

With the phasing out of the MFA (Multi-Fiber Arrangement) in 2005, Indian textile majors like Arvind Mills will have an opportunity to improve their access to the textile markets based in Europe and the US. In this article, we look at the 1QFY04 results of company and analyse the performance of its various divisions.

Raymond: Other income fillip

Aug 21, 2003

The post 2005 scenario for the textile sector has raised lot of hopes among investors in general. While it is not as rosy as it seems, some companies are in a position to capitalise on the growth opportunity arising out of removal of WTO restrictions. Raymond is one among them. We consider the 1QFY04 performance of the company in general and future growth prospects.

Indian Textiles: 2005 and beyond

Jun 23, 2003

The Indian textile sector is due for a sea change from January 1, 2005. This is when the sector will be free from quotas and India will be free to import and export textile goods. This is a very important development for the Indian textile industry. In this article, we try to look at some of the aspects of the post-WTO scenario for the sector.

Century: Net zooms 340%

Feb 5, 2001

A doubling of operating margins helped Century Textiles post a 340% gain in net profits for the quarter ended 31st December 2000.

Century: Window dressing to save face

Oct 24, 2000

Century Textiles has posted a net loss of Rs 32 m for the quarter ended September 2000. The company has been able to minimize losses largely due to a rise in other income and a substantial decline in provision for depreciation. Operationally, however, the company's performance continues to deteriorate.

Century Textiles: Deferring depreciation to boost bottomline

Jul 31, 2000

Century Textiles and Industries Limited has posted a marginal net profit of Rs 67 m during the quarter ended June 2000. The company has been able to stay in the black largely due to the non provision of depreciation with respect to certain plants. This has reduced the depreciation burden by Rs 192.4 m.

Century Textiles: Disappointing performance

May 29, 2000

Century Textiles has posted a net profit of Rs 345 m for the year ended 31st December. However, the profits are largely on account of extraordinary income and alteration in other accounting practices (pertaining to depreciation largely).

What does Century gain by selling its cement plant?

May 15, 2000

At Rs 3,200 per tonne (that’s what Lafarge paid Raymond for the latter’s 2.4 million tonne cement plant), Century gains Rs 4.8 bn. That’s approximately 30% of the company's total debt in FY99. Given an interest rate of 12%, Century’s bottomline would rise by Rs 576 m. Assuming, of course, that the company will use the proceeds to repay debt.

New clothes for the textile industry

May 10, 2000

The de-reservation of the textile sector and the decontrol of the sugar industry are a few of the measures proposed by a special group comprising Ratan Tata and Nusli Wadia. The group was set up to suggest ways to revive traditional industries including textiles, sugar, oilseeds and tea.

Century Enka posts 44% jump in net

Apr 29, 2000

Century Enka Limited has posted a 23% rise in topline during the year ended 31st March 2000. The company has suffered a marginal decline in operating profit margins. However, its net profit margins have shown a significant improvement mainly due to lower interest expenses.

Grasim cement unit attracts international giants

Mar 17, 2000

Grasim Industries Limited has received bids from a number of domestic and international players for its cement plant in eastern India. The company had put the plant on the block after the realisations in the region declined significantly.

India's #1 Trader
Reveals His Secrets

The Secret to Increasing Your Trading Profits Today
Get this Special Report, The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms