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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 29.3
    (0.0%)
    AANANDA LAKSHMI 22.4
    (5.0%)
    AARVEE DENIMS & EXPORT 28.5
    (3.2%)
    AB COTSPIN INDIA LTD. 222.0
    (0.0%)
    ACKNIT INDUSTRIES 254.7
    (-0.9%)
    ADDI IND. 59.0
    (1.6%)
    ADHINATH TEX. 27.3
    (-2.1%)
    ADITYA SPIN. 24.3
    (2.8%)
    ADVANCE LIFESTYLES 48.7
    (10.0%)
    AKM LACE AND EMBROTEX 113.5
    (0.7%)
    AKSHAR SPINTEX 2.3
    (-0.9%)
    ALOK INDUSTRIES 27.6
    (-0.4%)
    AMARJOTHI SPINNING 181.0
    (-0.6%)
    AMBASSADOR INTRA HOLDINGS 43.7
    (-1.5%)
    AMBIKA COTTON 1,551.0
    (-1.3%)
    AMRAPALI INDUSTRIES 14.8
    (2.6%)
    AMRAWORLD AGRICO 1.0
    (0.0%)
    ANGEL FIBERS 22.0
    (-2.0%)
    ANJANI SYNTHETICS 44.5
    (-1.1%)
    APM INDUSTRIES 71.8
    (-3.1%)
    ARVIND 321.2
    (0.7%)
    ASHIMA. 21.9
    (-1.7%)
    ASHNOOR TEXTILE 82.3
    (5.0%)
    AUNDE FAZE THREE 91.9
    (-0.2%)
    AVIVA INDUSTRIES 24.5
    (0.0%)
    AXITA COTTON 23.5
    (-1.8%)
    AYM SYNTEX 96.9
    (0.1%)
    BANG OVERSEAS 56.4
    (3.5%)
    BANNARI AMMAN SPIN 46.1
    (5.3%)
    BANSWARA SYNTEX 148.5
    (-0.8%)
    BARODA RAYON 180.1
    (-2.2%)
    BELLA CASA FASHION 300.0
    (4.0%)
    BENGAL TEA 152.9
    (2.4%)
    BETEX INDIA 257.6
    (2.0%)
    BHANDARI HOSIERY 8.1
    (0.6%)
    BHILWARA TECHNICAL TEX. 38.6
    (2.0%)
    BILLWIN INDUSTRIES 99.5
    (1.6%)
    BINAYAK TEX PROC. 798.0
    (5.0%)
    BINDAL EXPORTS 21.0
    (4.7%)
    BINNY 155.6
    (4.8%)
    BINNY MILLS 208.1
    (-5.0%)
    BIZOTIC COMMERCIAL 56.0
    (-3.7%)
    BL.CHIP TEX 170.0
    (0.0%)
    BLACK ROSE IND 133.7
    (0.4%)
    BOMBAY DYEING 169.6
    (-1.2%)
    BSL. 190.4
    (-0.5%)
    CENTURY ENKA 463.7
    (0.1%)
    CHANDNI MACHINES 63.1
    (10.0%)
    CHEVIOT CO. 1,329.0
    (1.2%)
    CIL NOVA PETRO 27.1
    (-5.0%)
    CITYMAN 25.2
    (0.0%)
    CPS SHAPERS LTD. 368.0
    (5.1%)
    DAMODAR INDUSTRIES 51.9
    (-0.8%)
    DCM 79.7
    (-0.1%)
    DCM NOUVELLE 219.8
    (1.5%)
    DHAN ROTO SP 161.5
    (-1.9%)
    DHANLAXMI FABRICS 67.3
    (4.1%)
    DIGJAM 89.0
    (-2.2%)
    DOLLAR INDUSTRIES 568.0
    (1.4%)
    DONEAR IND. 105.4
    (-1.9%)
    E LAND APPAREL 8.1
    (-0.4%)
    EASTERN SILK IND 2.1
    (-4.9%)
    EUROTEX IND 14.0
    (-1.8%)
    EVERLON SYN. 76.0
    (-3.8%)
    FAZE THREE 433.1
    (11.2%)
    FIBERWEB (INDIA) 36.1
    (-2.3%)
    FILATEX INDIA 64.0
    (0.1%)
    FLORA TEXTILES 9.4
    (0.0%)
    GAEKWAR MILLS 12.5
    (0.0%)
    GANESHA ECOSPHERE 1,074.6
    (1.0%)
    GANGOTRI TEX 1.1
    (0.0%)
    GARMENT MANTRA LIFESTYLE 5.7
    (-1.9%)
    GARWARE TECHNICAL 3,268.7
    (-0.8%)
    GEM SPINNERS 3.3
    (-2.9%)
    GHCL TEXTILES 85.0
    (2.0%)
    GINNI FILAM. 35.9
    (2.9%)
    GIVO. 2.6
    (0.0%)
    GLOBE TEXTILES (INDIA) 3.4
    (-4.2%)
    GLOBUS CONST. 16.4
    (1.5%)
    GLOSTER 926.0
    (6.6%)
    GO FASHION (INDIA) 1,111.9
    (-0.4%)
    GOKAK TEXTILES 238.2
    (5.0%)
    GOLDEN CARPE 12.4
    (5.0%)
    GRASIM 2,375.0
    (1.5%)
    GTN INDUSTRIES 32.3
    (-2.0%)
    GTN TEXTILES LIMITED 11.9
    (-0.3%)
    GUJARAT COTEX 5.1
    (-4.8%)
    HAR.FIBRES 15.9
    (0.0%)
    HARIA APPARELS 5.8
    (6.3%)
    HARISH TEXTILE ENGINEERS 53.2
    (-0.6%)
    HIGH STREET 57.2
    (0.0%)
    HIMATSINGKA SEIDE 141.0
    (0.9%)
    HISAR SPIN. 52.1
    (0.2%)
    INDO COUNT 400.0
    (-0.0%)
    INDO RAMA SYN 45.0
    (-0.6%)
    INDOVATION TECH 95.0
    (-0.2%)
    INTEGRA ESSENTIA 4.0
    (4.8%)
    IRIS CLOTHINGS 79.0
    (-0.1%)
    JAGJANANI TEXTILES 12.3
    (-2.0%)
    JAKHARIA FABRIC 34.0
    (0.0%)
    JAMSHRI RANJ 6,615.0
    (5.0%)
    JATTA POLY 21.5
    (-3.9%)
    JAYKAY ENTERPRISES 142.5
    (0.6%)
    JINDAL COTEX 2.6
    (1.6%)
    JINDAL POLYFILMS 581.7
    (2.0%)
    JIWANRAM SHEODUTTRAI INDUSTRIES LTD. 16.0
    (0.9%)
    KAKATIYA TEXT. 19.5
    (-7.0%)
    KALLAM SPG. 10.2
    (1.4%)
    KAMA HOLDINGS 2,765.0
    (-1.0%)
    KAMADGIRI SY 73.7
    (-5.2%)
    KANDAGIRI SPINNING 22.0
    (-4.7%)
    KAPIL COTEX 116.9
    (-5.0%)
    KARNIKA INDUSTRIES LTD. 305.1
    (0.0%)
    KEWAL KIRAN CLOTHING 705.5
    (0.5%)
    KHOOBSURAT 1.3
    (2.4%)
    KIRAN SYNTEX 8.0
    (-4.5%)
    KITEX GARMENTS 202.6
    (-1.1%)
    KPR MILL 868.0
    (-2.2%)
    LA-MERE APP. 42.0
    (-4.9%)
    LAKHOTIA POLY 36.5
    (-1.4%)
    LAKSHMI MILLS 5,155.0
    (-0.1%)
    LAMBODHARA TEXTILES 156.0
    (0.1%)
    LAXMI COTSPIN 33.2
    (-0.4%)
    LE MERITE EXPORTS 69.8
    (3.1%)
    LORENZINI APPARELS 26.3
    (-2.0%)
    LOVABLE LINGERIE 124.5
    (-1.3%)
    LOYAL TEXTILE MILLS 567.2
    (-1.5%)
    LUDLOW JUTE 87.4
    (1.0%)
    LUX INDUSTRIES 1,351.1
    (-1.4%)
    LWS KNITWEAR 31.1
    (3.2%)
    M. K. EXIM 90.0
    (5.5%)
    MAHALAXMI RUBTECH 214.8
    (-2.1%)
    MANDHANA INDUSTRIES 9.8
    (-4.8%)
    MANOMAY TEX INDIA 199.1
    (0.2%)
    MARAL OVERSEAS 73.5
    (-2.5%)
    MARIS SPIN. 37.6
    (-1.5%)
    MEERA INDUSTRIES 44.9
    (0.1%)
    MID INDIA INDUS. 9.8
    (9.9%)
    MISH DESIGNS 125.0
    (0.0%)
    MOHIT INDUST. 23.1
    (4.2%)
    MONTE CARLO 678.8
    (3.2%)
    MORARJEE TEXTILES 20.8
    (-5.0%)
    NAGREEKA EXPORTS 33.8
    (1.6%)
    NAHAR INDUSTRIES 130.2
    (-0.2%)
    NAHAR POLY FILMS 204.3
    (-1.4%)
    NAHAR SPINNING M 288.8
    (-0.5%)
    NANDAN DENIM 41.3
    (-2.6%)
    NANDANI CREATION 49.1
    (-1.2%)
    NEO INFRACON 16.2
    (4.9%)
    NEW LIGHT APPARELS 23.0
    (-2.0%)
    NIBE LIMITED 1,564.1
    (1.1%)
    NITIN SPINNER 355.7
    (0.1%)
    NUTECH GLOBAL 21.5
    (-0.5%)
    NUTRICIRCLE 237.6
    (0.0%)
    OMKAR OVERSEAS 4.3
    (0.0%)
    ORBIT EXPORTS 179.6
    (6.2%)
    OSIAJEE TEXFAB 38.3
    (-0.5%)
    OSWAL YARNS 20.1
    (2.0%)
    OVERSEAS SYNTHETICS 96.8
    (5.0%)
    PAGE INDUSTRIES 35,407.7
    (-2.3%)
    PARAS PETROFILS 4.0
    (-2.0%)
    PASARI SPIN 8.1
    (-0.1%)
    PASUPATI ACRYLON 38.9
    (-1.0%)
    PASUPATI SPG 38.0
    (2.7%)
    PATSPIN INDIA 13.9
    (3.8%)
    PBM POLYTEX 87.6
    (2.2%)
    PEARL GLOBAL 593.0
    (-0.5%)
    PEETI SECURITIES 22.9
    (-0.5%)
    PIONEER EMBROID. 44.6
    (-2.1%)
    PODDAR DEVELOPERS 107.5
    (4.1%)
    PRAKASH WOOL 38.3
    (1.7%)
    PRECOT MERIDIAN 401.0
    (1.8%)
    PREMCO GLOB. 414.1
    (-3.7%)
    PREMIER SYNTHETICS 18.0
    (1.4%)
    PRIME URBAN DEV. 9.8
    (-4.7%)
    RAGHUVIR SYNTHETICS 114.2
    (-2.0%)
    RAJ RAYON IND. 22.6
    (-2.0%)
    RAJASTHAN PETRO 3.1
    (2.0%)
    RAJKAMAL SYNT. 27.8
    (0.0%)
    RAMGOPAL POL 5.4
    (-6.7%)
    RANGOLI TRADECOMM 6.2
    (-3.1%)
    RAYMOND 2,106.9
    (2.6%)
    REDTAPE 718.3
    (-1.1%)
    RELIANCE CHEMOTEX 230.0
    (1.9%)
    RIBA TEXTILES 84.9
    (1.1%)
    RITESH INTER 28.2
    (-0.2%)
    RSC INTERNATIONAL 7.2
    (0.0%)
    RSWM 192.0
    (-0.1%)
    RUBY MILLS 204.2
    (0.1%)
    RUDRA ECOVATION 43.5
    (-1.0%)
    S V GLOBAL 100.5
    (-4.7%)
    S&T CORPORATION 27.0
    (1.8%)
    S.P. APPARELS 599.4
    (2.1%)
    SAHAJ FASHIONS LTD. 22.9
    (0.0%)
    SALONA COTSPIN 295.6
    (-2.6%)
    SAMBANDAM SPIN 152.5
    (2.4%)
    SAMTEX FASHIONS 2.1
    (-2.3%)
    SANRHEA TECHNICAL 119.0
    (8.2%)
    SARLA PERFORMANCE 58.7
    (-0.0%)
    SAYAJI INDUSTRIES 195.0
    (0.0%)
    SEL MANUFAC 79.0
    (-2.3%)
    SHAHLON SILK IND 25.9
    (0.7%)
    SHANTI SPINTEX LTD. 66.0
    (-1.5%)
    SHEKHAWATI POLY 2.7
    (1.9%)
    SHESHADRI INDUSTRIES 13.6
    (-2.6%)
    SHINE FASHIONS (INDIA) 180.2
    (5.0%)
    SHIVA MILLS 92.1
    (-0.5%)
    SHIVA SUITINGS 25.8
    (-5.0%)
    SHIVA TEXYARN 167.1
    (-0.7%)
    SHREE BHAVYA FABRICS 25.0
    (2.5%)
    SHREE KARNI FABCOM LTD. 429.5
    (-0.8%)
    SHREE MANUFACT. 13.7
    (-0.8%)
    SHREE RAJASTHAN SYN. 7.0
    (0.0%)
    SHRI DINESH 499.0
    (0.3%)
    SHUBHAM POLYSPIN 22.0
    (0.3%)
    SIGNORIA CREATION LTD. 170.0
    (2.1%)
    SIL INVESTMENTS 518.7
    (0.0%)
    SIMPLEX MILLS 4,171.3
    (5.0%)
    SIYARAM SILK 476.9
    (1.1%)
    SKS TEXTILES 13.1
    (0.0%)
    SOMA TEXTILES 39.9
    (5.0%)
    SOURCE INDUST. 3.2
    (-4.8%)
    SPECTRUM ELEC 1,325.0
    (-1.1%)
    SPL INDUSTRIES. 60.3
    (0.8%)
    SPORTKING INDIA 857.0
    (-0.9%)
    SREE JAYALAK. 6.2
    (4.9%)
    SRF 2,632.8
    (0.7%)
    SRI LAK.SAR. 39.5
    (2.9%)
    SRI NACHAMAI 34.5
    (1.4%)
    SRI NANDAA SPINNERS LTD. 4.9
    (-9.4%)
    SUBHASH SILK 24.2
    (0.4%)
    SUMEET INDUSTRIES 2.3
    (4.7%)
    SUNCITY SYNT 9.6
    (4.9%)
    SUNIL INDUS. 55.1
    (-5.0%)
    SUPER FINE KNITTERS 12.7
    (-5.0%)
    SUPER SALES 1,761.1
    (-2.5%)
    SUPER SPINNING 7.1
    (-1.1%)
    SUPERTEX IND 12.3
    (-0.2%)
    SURAT TEXT. 10.2
    (1.7%)
    SURBHI IND. 4.4
    (5.0%)
    SURYAAMBA SPINNING 168.3
    (4.5%)
    SURYALAKSHMI COTT 72.0
    (-0.8%)
    SURYALATA SP 413.8
    (0.6%)
    SUTLEJ TEXTILES 60.0
    (0.2%)
    SUUMAYA INDUSTRIES 8.7
    (-1.7%)
    SUZLON FIBRE 7.8
    (-2.1%)
    SWADESHI POLYTEX 282.6
    (5.0%)
    SWAN ENERGY 618.9
    (1.5%)
    SWARAJ SUITING 240.0
    (3.9%)
    SWASTI VINAYAKA SYN 8.0
    (-0.2%)
    SYBLY INDUSTRIES 6.1
    (-2.4%)
    TATIA GLOBAL VEN. 3.8
    (1.9%)
    TCNS CLOTHING CO. 453.5
    (1.3%)
    TEJASSVI AAHARAM 66.5
    (-2.0%)
    TINE AGRO 31.9
    (2.0%)
    TITAANIUM TEN ENTERPRISES 35.8
    (2.3%)
    TRIDENT 40.1
    (0.4%)
    TRIDENT TEXOFAB 49.9
    (0.8%)
    TRITON CORP 0.5
    (0.0%)
    TT 112.0
    (-1.1%)
    TUNI TEXTILE 1.9
    (0.0%)
    UNISOCKS (I) 15.7
    (-0.6%)
    UNITED LEASING 25.3
    (5.0%)
    UNITED TEXT. 18.0
    (-0.6%)
    UNIWORTH 1.0
    (0.0%)
    VALSON INDUS 30.5
    (2.2%)
    VANDANA KNITWEAR 4.1
    (-1.9%)
    VARDHMAN TEXTILES 461.6
    (0.5%)
    VEEJAY LAKSH. 50.6
    (1.0%)
    VEEKAYEM FASHION AND APPARELS LTD. 266.8
    (2.5%)
    VENTURA TEXTILES 13.8
    (-2.0%)
    VIJAY TEXTILE 18.0
    (1.5%)
    VINNY OVERSEAS 4.2
    (-2.6%)
    VIP CLOTHING 38.6
    (-1.6%)
    VISHAL COTSPIN 59.8
    (0.0%)
    VIVAA TRADECOM LTD. 33.0
    (0.0%)
    VOITH PAPER 1,977.1
    (0.9%)
    VTM LIMITED 67.9
    (0.4%)
    WEIZMANN. 131.9
    (-7.3%)
    WELSPUN LIVING 155.8
    (-2.2%)
    WINSOME TEXTILE 84.9
    (0.1%)
    WINSOME YARNS 3.8
    (0.0%)
    WIRES & FABRIKS 157.0
    (1.4%)
    YORK EXPORTS 41.0
    (5.0%)
    ZENITH EXPORTS 183.0
    (0.8%)