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Budget 2009-10: Textile


Since the textile industry is ridden with problems ranging from higher input costs, poor export orders, foreign exchange fluctuation to low domestic demand, most Indian textile companies, particularly the small and medium-size firms have been contemplating either laying off workers or closing down. The budget does not seem to have offered them any significant relief saving some encouragement to exporters. Textile companies are trying to add niche value-added material to their product mix to stabilise their margins. Some firms that have also ventured into retail chains are finding it difficult to breakeven due to the economic meltdown.

 Budget Measures
  		• 4% excise duty on cotton textiles restored.
  		•  Tax holiday on export profits extended by one year to FY11.
  		•  2% interest subvention for textile sector extended by six months up to March 2010.
  		• To add one handloom mega cluster each in West Bengal and Tamil Nadu and one powerloom mega cluster in Rajasthan. In addition, new mega clusters for carpets in Srinagar (J&K) and Mirzapur (UP).

     Budget Impact
  		• Restoration of excise duty on cotton textile will enable manufacturers avail of export rebate of the duty paid from CENVAT credit.
  		•  The handloom mega clusters and export incentives will prevent loss of jobs in the textile sector.
  		•  Extension of 2% interest subvention for textile sector will reduce the interest burden on the P&L of textile companies this fiscal.

     Company Impact
  		• Cotton textile manufacturers like Arvind Ltd. and Alok Industries will benefit from the restoration of excise duty.
  		•  Companies like Raymond, Arvind Ltd. and Alok that are heavily leveraged will also benefit from the extended interest subvention.

    Budget Impact: Textile Sector Analysis for 2008 | Textile Sector Analysis for 2010
    Latest: Performance Of Textile Stocks | Textile Sector Report



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    Sector Performance
    COMPANY PRICE (Rs)
    A.V.COTTEX 89.5
    (-5.0%)
    AANANDA LAKSHMI 9.6
    (-4.9%)
    AB COTSPIN INDIA LTD. 403.0
    (-0.1%)
    ACKNIT INDUSTRIES 260.0
    (2.3%)
    ADDI IND. 97.0
    (2.1%)
    ADHINATH TEX. 19.5
    (3.9%)
    ADITYA SPIN. 15.0
    (-6.5%)
    ADVANCE LIFESTYLES 23.2
    (-0.6%)
    AKM LACE AND EMBROTEX 1,112.0
    (0.2%)
    AKSHAR SPINTEX 0.4
    (2.6%)
    AKSHAR SPINTEX LTD. - (RIGHTS ENTITLEMENTS (RES) 0.1
    (-6.7%)
    ALOK INDUSTRIES 12.1
    (-5.8%)
    AMARJOTHI SPINNING 124.0
    (-4.7%)
    AMBASSADOR INTRA HOLDINGS 50.4
    (-0.0%)
    AMBIKA COTTON 1,221.9
    (-3.7%)
    AMRAPALI INDUSTRIES 13.8
    (-5.1%)
    AMRAWORLD AGRICO 0.5
    (-7.3%)
    ANGEL FIBERS 14.4
    (11.2%)
    ANJANI SYNTHETICS 25.5
    (-1.9%)
    APM INDUSTRIES 40.8
    (1.9%)
    ARITAS VINYL LTD. 15.5
    (0.4%)
    ARVIND 344.1
    (-4.1%)
    ASHIMA. 12.9
    (-7.8%)
    ASHNOOR TEXTILE 40.0
    (-2.1%)
    ATVO ENTERPRISES LTD 19.2
    (1.1%)
    AUNDE FAZE THREE 91.9
    (-0.2%)
    AVI ANSH TEXTILE LTD. 111.0
    (0.4%)
    AVIVA INDUSTRIES 59.4
    (-2.0%)
    AXITA COTTON 8.7
    (-2.3%)
    AYM SYNTEX 179.6
    (-1.6%)
    BANG OVERSEAS 34.0
    (-2.9%)
    BANNARI AMMAN SPIN 18.6
    (-7.5%)
    BANSWARA SYNTEX 105.3
    (-6.4%)
    BARODA RAYON 108.0
    (-0.3%)
    BELLA CASA FASHION 260.0
    (-0.1%)
    BELLA CASA FASHION & RETAIL LTD. - (RIGHTS ENTITLE 259.7
    (-0.1%)
    BENGAL TEA 138.0
    (-4.8%)
    BETEX INDIA 358.0
    (3.8%)
    BHANDARI HOSIERY 2.5
    (-3.1%)
    BHARAT TEXTILES & PROOFING INDUSTRIES LTD. 31.6
    (-4.6%)
    BHILWARA TECHNICAL TEX. 32.4
    (-1.8%)
    BHUDEVI INFRA PROJECTS LTD. 237.1
    (-5.0%)
    BILLWIN INDUSTRIES 31.7
    (13.8%)
    BINAYAK TEX PROC. 2,530.0
    (5.0%)
    BINDAL EXPORTS 26.6
    (4.8%)
    BINNY 141.0
    (-2.8%)
    BINNY MILLS 324.5
    (3.2%)
    BIZOTIC COMMERCIAL 932.8
    (-0.6%)
    BL.CHIP TEX 116.3
    (-2.1%)
    BLACK ROSE IND 71.8
    (-3.1%)
    BOMBAY DYEING 95.0
    (-7.6%)
    BORANA WEAVES LTD. 335.0
    (-3.3%)
    BSL. 112.2
    (-6.6%)
    CEDAAR TEXTILE LTD. 20.9
    (-5.0%)
    CENTURY ENKA 395.0
    (-5.6%)
    CHANDNI MACHINES 75.2
    (-5.0%)
    CHEVIOT CO. 949.3
    (-3.2%)
    CIL NOVA PETRO 149.7
    (-2.0%)
    CITIZEN YARNS LTD. 0.3
    (-2.9%)
    CITYMAN 14.8
    (0.1%)
    CPS SHAPERS LTD. 995.6
    (-5.0%)
    DAMODAR INDUSTRIES 22.5
    (-11.3%)
    DCM 57.0
    (-6.6%)
    DCM NOUVELLE 101.0
    (-10.7%)
    DCM SHRIRAM INTERNATIONAL LTD. 84.0
    (-5.0%)
    DHANLAXMI FABRICS 55.7
    (-0.5%)
    DHANLAXMI ROTO SPINNERS 71.0
    (-5.4%)
    DIGJAM 39.0
    (2.0%)
    DIVYADHAN RECYCLING INDUSTRIES LTD. 21.3
    (4.9%)
    DOLLAR INDUSTRIES 241.0
    (-7.0%)
    DONEAR IND. 80.0
    (-4.8%)
    E LAND APPAREL 13.7
    (3.4%)
    EASTERN SILK IND 73.0
    (-5.0%)
    ECOLINE EXIM LTD. 135.0
    (9.8%)
    EUROTEX IND 15.0
    (1.7%)
    EVERLON SYN. 97.0
    (-1.1%)
    FAZE THREE 395.0
    (-4.6%)
    FIBERWEB (INDIA) 33.9
    (-4.7%)
    FILATEX FASHIONS 0.2
    (0.0%)
    FILATEX INDIA 38.3
    (-5.9%)
    FLORA TEXTILES 35.9
    (0.0%)
    FORCAS STUDIO LTD. 95.1
    (-4.9%)
    FRACTAL INDUSTRIES LTD. 216.9
    (0.4%)
    GAEKWAR MILLS 14.3
    (0.0%)
    GAME CHANGERS TEXFAB LTD. 102.0
    (-9.7%)
    GANESHA ECOSPHERE 778.5
    (-3.5%)
    GANGOTRI TEX 0.6
    (3.3%)
    GARMENT MANTRA LIFESTYLE 1.4
    (-10.6%)
    GARWARE TECHNICAL 594.5
    (-2.6%)
    GEM SPINNERS 5.6
    (4.9%)
    GHCL TEXTILES 73.3
    (-3.5%)
    GINNI FILAM. 35.9
    (-5.1%)
    GIVO. 2.7
    (-4.9%)
    GLOBALE TESSILE LTD. 10.0
    (-5.5%)
    GLOBE TEXTILES (INDIA) 2.2
    (-7.9%)
    GLOBUS CONST. 11.6
    (-5.7%)
    GLOSTER 501.0
    (-3.2%)
    GO FASHION (INDIA) 253.9
    (-8.0%)
    GOKAK TEXTILES 61.0
    (-4.7%)
    GOLDEN CARPE 8.8
    (4.9%)
    GRASIM 2,545.0
    (-2.7%)
    GTN INDUSTRIES 21.9
    (-6.1%)
    GTN TEXTILES LIMITED 8.2
    (-4.3%)
    GUJARAT COTEX 8.2
    (-3.9%)
    HAR.FIBRES 29.0
    (0.0%)
    HARI GOVIND INTERNATIONAL LTD. 208.2
    (0.0%)
    HARIA APPARELS 5.5
    (-5.8%)
    HARISH TEXTILE ENGINEERS 60.4
    (-4.2%)
    HIGH STREET 116.1
    (1.6%)
    HIMATSINGKA SEIDE 73.0
    (-7.5%)
    HISAR SPIN. 57.3
    (5.0%)
    INDO COUNT 224.5
    (-3.5%)
    INDO RAMA SYN 31.8
    (1.4%)
    INTEGRA ESSENTIA 1.2
    (-3.2%)
    IRIS CLOTHINGS 28.3
    (-3.9%)
    JAGJANANI TEXTILES 3.9
    (-4.4%)
    JAKHARIA FABRIC 60.5
    (0.0%)
    JAMSHRI RANJ 78.4
    (3.2%)
    JATTA POLY 419.9
    (0.5%)
    JAYKAY ENTERPRISES 123.5
    (-6.3%)
    JINDAL COTEX 2.6
    (1.6%)
    JINDAL POLYFILMS 908.2
    (-5.0%)
    JIWANRAM SHEODUTTRAI INDUSTRIES LTD. 4.9
    (-6.7%)
    KAKATIYA TEXT. 9.9
    (9.9%)
    KALAHRIDHAAN TRENDZ LTD. 4.9
    (4.3%)
    KALLAM SPG. 2.8
    (-3.1%)
    KAMA HOLDINGS 2,350.0
    (-5.0%)
    KAMADGIRI SY 78.1
    (-6.5%)
    KANDAGIRI SPINNING 42.7
    (-5.0%)
    KAPIL COTEX 161.9
    (4.0%)
    KARNIKA INDUSTRIES LTD. 114.7
    (0.7%)
    KAYTEX FABRICS LTD. 69.0
    (-0.6%)
    KEN ENTERPRISES LTD. 34.5
    (-9.2%)
    KEWAL KIRAN CLOTHING 423.0
    (-0.8%)
    KHOOBSURAT 0.5
    (-1.9%)
    KIRAN SYNTEX 13.1
    (-4.9%)
    KITEX GARMENTS 149.7
    (-6.2%)
    KIZI APPARELS LTD. 16.5
    (2.5%)
    KIZI APPARELS LTD. 16.5
    (2.5%)
    KK SILK MILLS LTD. 9.9
    (-4.8%)
    KPR MILL 822.4
    (-0.4%)
    LA-MERE APP. 34.8
    (0.0%)
    LAKHOTIA POLY 60.5
    (4.7%)
    LAKSHMI MILLS 7,155.0
    (-0.5%)
    LAMBODHARA TEXTILES 89.2
    (-7.1%)
    LAXMI COTSPIN 12.5
    (-4.5%)
    LE MERITE EXPORTS 441.9
    (-0.9%)
    LORENZINI APPARELS 6.8
    (-8.3%)
    LOVABLE LINGERIE 61.0
    (-5.9%)
    LOYAL TEXTILE MILLS 204.5
    (3.3%)
    LUDLOW JUTE 191.7
    (-2.2%)
    LUX INDUSTRIES 923.5
    (-1.8%)
    LWS KNITWEAR 15.6
    (-3.2%)
    LWS KNITWEAR LTD. - (RIGHTS ENTITLEMENTS (RES) 6.3
    (-2.2%)
    M. K. EXIM 50.0
    (-4.2%)
    MAHALAXMI RUBTECH 156.0
    (-4.9%)
    MANDHANA INDUSTRIES 9.8
    (-4.8%)
    MANOMAY TEX INDIA 200.8
    (-2.1%)
    MARAL OVERSEAS 37.1
    (-7.2%)
    MARIS SPIN. 24.8
    (-12.8%)
    MARKOBENZ VENTURES LTD. 4.2
    (-3.0%)
    MEERA INDUSTRIES 40.0
    (1.3%)
    MID INDIA INDUS. 5.9
    (4.4%)
    MISH DESIGNS 39.5
    (-5.0%)
    MODERN THREADS (INDIA) LTD. 42.2
    (0.0%)
    MOHIT INDUST. 20.6
    (-10.0%)
    MONTE CARLO 499.9
    (-4.9%)
    MORARJEE TEXTILES 6.9
    (-4.9%)
    NAGREEKA EXPORTS 20.0
    (-7.6%)
    NAHAR INDUSTRIES 86.0
    (-4.6%)
    NAHAR POLY FILMS 223.0
    (-6.9%)
    NAHAR SPINNING M 201.6
    (-3.8%)
    NANDAN DENIM 2.1
    (-7.1%)
    NANDANI CREATION 29.0
    (1.3%)
    NEELAM LINENS AND GARMENTS (INDIA) LTD. 10.4
    (0.0%)
    NEO INFRACON 40.0
    (-6.0%)
    NEW LIGHT APPARELS 1.3
    (-1.5%)
    NIBE LIMITED 893.0
    (-6.8%)
    NITIN SPINNERS 351.0
    (-4.4%)
    NR VANDANA TEX INDUSTRIES LTD. 49.5
    (-14.3%)
    NUTECH GLOBAL 24.6
    (-5.0%)
    NUTRICIRCLE 376.1
    (-1.0%)
    OMKAR OVERSEAS 9.3
    (0.0%)
    ORBIT EXPORTS 142.0
    (-5.2%)
    OSIAJEE TEXFAB 416.8
    (-5.0%)
    OSWAL YARNS 16.9
    (5.0%)
    OVERSEAS SYNTHETICS 524.0
    (-7.0%)
    PAGE INDUSTRIES 31,200.0
    (-2.6%)
    PARAMOUNT DYE TEC LTD. 39.1
    (-1.3%)
    PARAS PETROFILS 2.5
    (4.7%)
    PASARI SPIN 6.6
    (-10.7%)
    PASUPATI ACRYLON 42.0
    (-5.3%)
    PASUPATI SPG 26.7
    (-5.2%)
    PATSPIN INDIA 6.4
    (-4.1%)
    PBM POLYTEX 49.0
    (-5.2%)
    PEARL GLOBAL 1,403.9
    (-5.7%)
    PEETI SECURITIES 17.5
    (-1.9%)
    PIONEER EMBROID. 23.0
    (-8.5%)
    PODDAR HOUSING & DEVELOPMENT 49.2
    (5.0%)
    PRAKASH WOOL 21.0
    (-2.0%)
    PRASHANT INDIA LTD. 14.2
    (5.0%)
    PRECOT MERIDIAN 480.0
    (-0.8%)
    PREMCO GLOB. 414.4
    (-0.3%)
    PREMIER SYNTHETICS 14.0
    (-1.2%)
    PRIME URBAN DEV. 8.0
    (-4.9%)
    RACHIT PRINTS LTD. 107.5
    (1.9%)
    RAGHUVIR SYNTHETICS 96.0
    (-9.5%)
    RAJ RAYON IND. 20.4
    (-1.9%)
    RAJASTHAN PETRO 13.0
    (-5.0%)
    RAJKAMAL SYNT. 33.3
    (-10.0%)
    RAMGOPAL POL 18.2
    (-0.2%)
    RANGOLI TRADECOMM 1.0
    (-4.8%)
    RAYMOND 347.9
    (-6.6%)
    REDTAPE 112.5
    (-4.3%)
    RELIANCE CHEMOTEX 114.0
    (0.9%)
    RIBA TEXTILES 66.4
    (-0.9%)
    RISHAB SPECIAL YARNS LTD. 59.0
    (0.2%)
    RITESH INTER 47.4
    (-6.3%)
    RSC INTERNATIONAL 25.9
    (-0.5%)
    RSWM 125.5
    (-5.0%)
    RUBY MILLS 199.8
    (-0.1%)
    RUDRA ECOVATION 16.9
    (-9.7%)
    S V GLOBAL 128.3
    (-3.0%)
    S&T CORPORATION 3.7
    (-7.9%)
    S.P. APPARELS 683.6
    (-4.2%)
    SAHAJ FASHIONS LTD. 4.1
    (-4.7%)
    SALONA COTSPIN 269.6
    (1.7%)
    SAMBANDAM SPIN 88.1
    (-2.7%)
    SAMTEX FASHIONS 1.3
    (0.8%)
    SANATHAN TEXTILES LTD. 364.4
    (-3.3%)
    SANRHEA TECHNICAL 147.9
    (-0.6%)
    SARLA PERFORMANCE 78.8
    (-5.1%)
    SAYAJI INDUSTRIES 98.0
    (2.5%)
    SD RETAIL LTD. 77.0
    (-2.1%)
    SEL MANUFAC 29.5
    (1.9%)
    SHAHLON SILK IND 19.5
    (-4.6%)
    SHANTI SPINTEX LTD. 50.8
    (-2.4%)
    SHEKHAWATI POLY 11.2
    (-2.9%)
    SHESHADRI INDUSTRIES 15.0
    (4.5%)
    SHINE FASHIONS (INDIA) 23.4
    (-6.2%)
    SHIVA MILLS 47.0
    (-17.8%)
    SHIVA SUITINGS 32.1
    (5.0%)
    SHIVA TEXYARN 128.8
    (-4.9%)
    SHREE BHAVYA FABRICS 25.8
    (1.9%)
    SHREE KARNI FABCOM LTD. 332.0
    (-6.6%)
    SHREE MANUFACT. 20.1
    (-2.1%)
    SHREE RAJASTHAN SYN. 12.8
    (4.5%)
    SHREE RAM TWISTEX LTD. 44.5
    (-8.6%)
    SHRI DINESH 221.5
    (-2.0%)
    SHUBHAM POLYSPIN 53.2
    (-0.6%)
    SIDDHESWARI GARMENTS LTD. 21.0
    (-2.0%)
    SIDDHI COTSPIN LTD. 29.0
    (0.9%)
    SIGNORIA CREATION LTD. 53.3
    (-5.0%)
    SIHORA INDUSTRIES LTD. 51.2
    (0.4%)
    SIL INVESTMENTS 390.9
    (-2.9%)
    SILKY OVERSEAS LTD. 143.0
    (-4.7%)
    SIMPLEX MILLS 5,453.0
    (4.8%)
    SIYARAM SILK 472.0
    (-0.6%)
    SKS TEXTILES 13.1
    (0.0%)
    SOMA TEXTILES 91.8
    (-1.9%)
    SOURCE INDUST. 5.8
    (4.9%)
    SPECTRUM ELEC 1,420.0
    (1.3%)
    SPL INDUSTRIES. 25.0
    (-3.7%)
    SPORTKING INDIA 111.7
    (-4.8%)
    SPRIGHT AGRO 0.5
    (-3.9%)
    SPUNWEB NONWOVEN LTD. 82.3
    (-3.6%)
    SREE JAYALAK. 76.0
    (4.9%)
    SRF 2,381.1
    (-3.0%)
    SRI LAK.SAR. 25.5
    (-5.0%)
    SRI NACHAMAI 32.5
    (10.0%)
    SRI NANDAA SPINNERS LTD. 4.9
    (-9.4%)
    SUBHASH SILK 39.0
    (-3.2%)
    SUMEET INDUSTRIES 30.7
    (5.0%)
    SUNCITY SYNT 11.4
    (5.0%)
    SUNIL INDUS. 62.2
    (-4.2%)
    SUPER FINE KNITTERS 9.2
    (-4.7%)
    SUPER SALES 578.5
    (-7.2%)
    SUPER SPINNING 4.3
    (-2.9%)
    SUPERTEX IND 6.5
    (0.2%)
    SURAT TEXT. 3.7
    (-4.6%)
    SURBHI IND. 57.5
    (5.0%)
    SURYAAMBA SPINNING 112.6
    (-3.3%)
    SURYALAKSHMI COTT 50.0
    (-5.4%)
    SURYALATA SP 300.9
    (-5.1%)
    SUTLEJ TEXTILES 27.5
    (-5.8%)
    SUUMAYA INDUSTRIES 1.6
    (4.7%)
    SUZLON FIBRE 5.4
    (-5.3%)
    SWADESHI POLYTEX 34.5
    (-0.1%)
    SWAN ENERGY 310.8
    (-2.5%)
    SWARAJ SUITING 282.7
    (-2.8%)
    SWASTI VINAYAKA SYN 3.4
    (5.0%)
    SYBLY INDUSTRIES 1.9
    (4.9%)
    TATIA GLOBAL VEN. 2.2
    (-5.5%)
    TCNS CLOTHING CO. 583.9
    (2.1%)
    TEJASSVI AAHARAM 37.4
    (-0.6%)
    TITAANIUM TEN ENTERPRISES 26.6
    (5.0%)
    TITAN INTECH 0.7
    (-4.0%)
    TRIDENT 24.5
    (1.0%)
    TRIDENT TEXOFAB 47.0
    (5.0%)
    TRITON CORP 1.4
    (0.7%)
    TT 8.7
    (-5.0%)
    TUNI TEXTILE 0.9
    (-4.1%)
    UNITED COTFAB LTD. 16.3
    (2.3%)
    UNITED LEASING 48.6
    (5.0%)
    UNITED TEXT. 15.8
    (0.0%)
    UNIWORTH 1.0
    (1.0%)
    VALSON INDUS 27.9
    (4.7%)
    VARDHMAN POLYTEX LTD. - (RIGHTS ENTITLEMENT) 7.0
    (16.5%)
    VARDHMAN TEXTILES 527.8
    (-0.6%)
    VARVEE GLOBAL LTD 53.3
    (-6.7%)
    VASHISHTHA LUXURY FASHION LTD. 63.7
    (-5.0%)
    VEEJAY LAKSH. 34.7
    (2.1%)
    VEEKAYEM FASHION AND APPARELS LTD. 124.0
    (3.3%)
    VENTURA TEXTILES 8.0
    (1.9%)
    VIJAY TEXTILE 5.8
    (-2.8%)
    VINNY OVERSEAS 1.1
    (-0.9%)
    VIP CLOTHING 16.7
    (-4.1%)
    VISHAL COTSPIN 150.5
    (-5.9%)
    VIVAA TRADECOM LTD. 37.0
    (0.0%)
    VOITH PAPER 1,449.0
    (-2.7%)
    VTM LIMITED 81.0
    (-1.4%)
    WEIZMANN. 71.0
    (-9.1%)
    WELSPUN LIVING 109.2
    (-4.8%)
    WINSOME TEXTILE 65.3
    (-5.2%)
    WINSOME YARNS 1.8
    (-1.6%)
    WIRES & FABRIKS 125.1
    (-4.0%)
    YAJUR FIBRES LTD. 40.9
    (-7.3%)
    YORK EXPORTS 59.0
    (-1.2%)
    ZENITH EXPORTS 189.0
    (0.3%)