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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 18.7
    (-2.0%)
    AARVEE DENIMS & EXPORT 25.6
    (-3.9%)
    AB COTSPIN INDIA LTD. 302.0
    (-3.3%)
    ACKNIT INDUSTRIES 261.9
    (1.0%)
    ADDI IND. 54.5
    (-2.5%)
    ADHINATH TEX. 27.7
    (0.4%)
    ADITYA SPIN. 21.1
    (4.3%)
    ADVANCE LIFESTYLES 45.0
    (0.9%)
    AKM LACE AND EMBROTEX 111.5
    (-0.3%)
    AKSHAR SPINTEX 2.4
    (-1.7%)
    ALOK INDUSTRIES 25.7
    (-1.9%)
    AMARJOTHI SPINNING 181.5
    (-0.6%)
    AMBASSADOR INTRA HOLDINGS 43.6
    (-0.1%)
    AMBIKA COTTON 1,518.0
    (-0.4%)
    AMRAPALI INDUSTRIES 14.4
    (-0.1%)
    AMRAWORLD AGRICO 1.0
    (0.0%)
    ANGEL FIBERS 21.7
    (-1.6%)
    ANJANI SYNTHETICS 42.7
    (0.3%)
    APM INDUSTRIES 61.2
    (-4.7%)
    ARVIND 349.5
    (-3.8%)
    ASHIMA. 19.9
    (-8.1%)
    ASHNOOR TEXTILE 50.6
    (0.6%)
    AUNDE FAZE THREE 91.9
    (-0.2%)
    AVIVA INDUSTRIES 24.5
    (0.0%)
    AXITA COTTON 22.0
    (-3.0%)
    AYM SYNTEX 86.8
    (-4.0%)
    BANG OVERSEAS 48.9
    (0.1%)
    BANNARI AMMAN SPIN 48.4
    (0.5%)
    BANSWARA SYNTEX 144.9
    (-2.1%)
    BARODA RAYON 172.4
    (-1.9%)
    BELLA CASA FASHION 297.6
    (-4.9%)
    BENGAL TEA 128.5
    (-1.6%)
    BETEX INDIA 247.7
    (-3.4%)
    BHANDARI HOSIERY 8.0
    (-1.7%)
    BHILWARA TECHNICAL TEX. 36.6
    (-3.0%)
    BILLWIN INDUSTRIES 50.4
    (-0.4%)
    BINAYAK TEX PROC. 1,069.0
    (5.0%)
    BINDAL EXPORTS 21.6
    (3.0%)
    BINNY 171.1
    (4.8%)
    BINNY MILLS 208.1
    (-5.0%)
    BIZOTIC COMMERCIAL 51.5
    (0.4%)
    BL.CHIP TEX 178.5
    (4.7%)
    BLACK ROSE IND 128.7
    (-1.0%)
    BOMBAY DYEING 164.9
    (-3.2%)
    BSL. 177.1
    (-1.7%)
    CENTURY ENKA 557.5
    (0.1%)
    CHANDNI MACHINES 56.7
    (-2.0%)
    CHEVIOT CO. 1,264.5
    (-2.1%)
    CIL NOVA PETRO 32.1
    (0.4%)
    CITYMAN 25.2
    (0.0%)
    CPS SHAPERS LTD. 368.0
    (5.1%)
    DAMODAR INDUSTRIES 49.9
    (-5.1%)
    DCM 72.5
    (-2.6%)
    DCM NOUVELLE 196.7
    (-4.1%)
    DHAN ROTO SP 168.8
    (0.9%)
    DHANLAXMI FABRICS 67.7
    (4.9%)
    DIGJAM 87.5
    (1.7%)
    DOLLAR INDUSTRIES 570.3
    (-2.3%)
    DONEAR IND. 99.9
    (-2.4%)
    E LAND APPAREL 7.7
    (-2.2%)
    EASTERN SILK IND 2.1
    (-4.9%)
    EUROTEX IND 13.0
    (0.4%)
    EVERLON SYN. 84.0
    (2.2%)
    FAZE THREE 427.5
    (2.0%)
    FIBERWEB (INDIA) 33.1
    (-1.4%)
    FILATEX INDIA 54.9
    (-4.4%)
    FLORA TEXTILES 9.8
    (4.9%)
    GAEKWAR MILLS 12.5
    (0.0%)
    GANESHA ECOSPHERE 1,059.7
    (1.1%)
    GANGOTRI TEX 1.2
    (4.6%)
    GARMENT MANTRA LIFESTYLE 5.8
    (-1.9%)
    GARWARE TECHNICAL 3,186.7
    (-0.7%)
    GEM SPINNERS 3.3
    (-0.9%)
    GHCL TEXTILES 82.9
    (-1.9%)
    GINNI FILAM. 38.1
    (-2.1%)
    GIVO. 2.6
    (0.0%)
    GLOBE TEXTILES (INDIA) 3.3
    (-3.0%)
    GLOBUS CONST. 16.7
    (-2.4%)
    GLOSTER 829.9
    (-0.3%)
    GO FASHION (INDIA) 990.6
    (2.2%)
    GOKAK TEXTILES 211.8
    (-5.0%)
    GOLDEN CARPE 12.4
    (5.0%)
    GRASIM 2,356.6
    (-0.9%)
    GTN INDUSTRIES 33.3
    (-2.0%)
    GTN TEXTILES LIMITED 11.9
    (-4.7%)
    GUJARAT COTEX 4.8
    (-5.0%)
    HAR.FIBRES 15.9
    (0.0%)
    HARIA APPARELS 5.3
    (4.3%)
    HARISH TEXTILE ENGINEERS 50.6
    (-1.6%)
    HIGH STREET 56.4
    (-1.5%)
    HIMATSINGKA SEIDE 129.0
    (-4.2%)
    HISAR SPIN. 48.5
    (0.0%)
    INDO COUNT 376.6
    (-0.9%)
    INDO RAMA SYN 41.4
    (-3.6%)
    INDOVATION TECH 91.4
    (-1.4%)
    INTEGRA ESSENTIA 4.0
    (-2.0%)
    IRIS CLOTHINGS 78.4
    (-0.4%)
    JAGJANANI TEXTILES 10.4
    (-2.0%)
    JAKHARIA FABRIC 34.0
    (0.0%)
    JAMSHRI RANJ 9,606.5
    (5.0%)
    JATTA POLY 21.5
    (-3.9%)
    JAYKAY ENTERPRISES 136.6
    (4.9%)
    JINDAL COTEX 2.6
    (1.6%)
    JINDAL POLYFILMS 512.3
    (-5.8%)
    JIWANRAM SHEODUTTRAI INDUSTRIES LTD. 14.8
    (0.0%)
    KAKATIYA TEXT. 30.8
    (5.0%)
    KALLAM SPG. 8.5
    (-3.2%)
    KAMA HOLDINGS 2,545.9
    (0.4%)
    KAMADGIRI SY 79.0
    (3.7%)
    KANDAGIRI SPINNING 23.1
    (5.0%)
    KAPIL COTEX 153.4
    (5.0%)
    KARNIKA INDUSTRIES LTD. 317.0
    (-0.6%)
    KEWAL KIRAN CLOTHING 638.5
    (-2.6%)
    KHOOBSURAT 1.3
    (-0.8%)
    KIRAN SYNTEX 8.9
    (-13.6%)
    KITEX GARMENTS 199.0
    (-3.5%)
    KPR MILL 786.8
    (-3.4%)
    LA-MERE APP. 40.7
    (-5.0%)
    LAKHOTIA POLY 35.8
    (0.0%)
    LAKSHMI MILLS 4,790.2
    (-2.2%)
    LAMBODHARA TEXTILES 146.8
    (-2.2%)
    LAXMI COTSPIN 31.1
    (-3.4%)
    LE MERITE EXPORTS 74.2
    (-0.4%)
    LORENZINI APPARELS 23.4
    (-4.9%)
    LOVABLE LINGERIE 122.8
    (-3.8%)
    LOYAL TEXTILE MILLS 568.2
    (-3.0%)
    LUDLOW JUTE 89.3
    (4.1%)
    LUX INDUSTRIES 1,469.1
    (-3.3%)
    LWS KNITWEAR 27.0
    (-0.4%)
    M. K. EXIM 83.4
    (-1.9%)
    MAHALAXMI RUBTECH 227.9
    (-6.7%)
    MANDHANA INDUSTRIES 9.8
    (-4.8%)
    MANOMAY TEX INDIA 178.8
    (-2.1%)
    MARAL OVERSEAS 72.8
    (-2.4%)
    MARIS SPIN. 40.0
    (0.0%)
    MEERA INDUSTRIES 42.4
    (-5.1%)
    MID INDIA INDUS. 12.0
    (-2.0%)
    MISH DESIGNS 120.0
    (-4.0%)
    MOHIT INDUST. 22.5
    (-1.7%)
    MONTE CARLO 666.3
    (-2.0%)
    MORARJEE TEXTILES 19.8
    (-5.0%)
    NAGREEKA EXPORTS 29.9
    (-0.1%)
    NAHAR INDUSTRIES 122.0
    (-0.6%)
    NAHAR POLY FILMS 189.9
    (-3.2%)
    NAHAR SPINNING M 266.3
    (-0.8%)
    NANDAN DENIM 37.5
    (-2.9%)
    NANDANI CREATION 47.4
    (-1.3%)
    NEO INFRACON 15.6
    (-5.0%)
    NEW LIGHT APPARELS 20.0
    (-2.1%)
    NIBE LIMITED 1,423.7
    (-3.9%)
    NITIN SPINNER 355.5
    (-1.9%)
    NUTECH GLOBAL 22.0
    (-3.9%)
    NUTRICIRCLE 237.6
    (0.0%)
    OMKAR OVERSEAS 4.3
    (0.0%)
    ORBIT EXPORTS 162.5
    (-4.5%)
    OSIAJEE TEXFAB 44.0
    (-1.7%)
    OSWAL YARNS 23.5
    (-0.1%)
    OVERSEAS SYNTHETICS 99.3
    (4.8%)
    PAGE INDUSTRIES 34,316.2
    (-0.5%)
    PARAS PETROFILS 3.4
    (-1.8%)
    PASARI SPIN 8.4
    (3.9%)
    PASUPATI ACRYLON 35.9
    (-2.5%)
    PASUPATI SPG 36.0
    (-2.7%)
    PATSPIN INDIA 13.7
    (2.6%)
    PBM POLYTEX 88.2
    (-2.2%)
    PEARL GLOBAL 586.9
    (-1.9%)
    PEETI SECURITIES 23.4
    (-1.4%)
    PIONEER EMBROID. 42.5
    (0.2%)
    PODDAR DEVELOPERS 102.4
    (-2.2%)
    PRAKASH WOOL 34.6
    (-5.6%)
    PRECOT MERIDIAN 370.8
    (-1.1%)
    PREMCO GLOB. 414.0
    (-1.1%)
    PREMIER SYNTHETICS 16.0
    (-3.0%)
    PRIME URBAN DEV. 10.0
    (-1.2%)
    RAGHUVIR SYNTHETICS 114.1
    (0.3%)
    RAJ RAYON IND. 21.9
    (-1.8%)
    RAJASTHAN PETRO 3.3
    (0.0%)
    RAJKAMAL SYNT. 30.1
    (-2.6%)
    RAMGOPAL POL 5.1
    (-0.4%)
    RANGOLI TRADECOMM 6.1
    (-0.5%)
    RAYMOND 2,085.3
    (-4.3%)
    REDTAPE 712.0
    (0.5%)
    RELIANCE CHEMOTEX 210.3
    (-5.1%)
    RIBA TEXTILES 75.3
    (-2.2%)
    RITESH INTER 27.9
    (1.5%)
    RSC INTERNATIONAL 7.9
    (-3.1%)
    RSWM 181.6
    (-2.1%)
    RUBY MILLS 196.0
    (-2.5%)
    RUDRA ECOVATION 48.8
    (3.2%)
    S V GLOBAL 89.6
    (-4.6%)
    S&T CORPORATION 26.6
    (-0.8%)
    S.P. APPARELS 589.6
    (-3.1%)
    SAHAJ FASHIONS LTD. 21.5
    (0.0%)
    SALONA COTSPIN 285.8
    (-4.8%)
    SAMBANDAM SPIN 155.1
    (1.0%)
    SAMTEX FASHIONS 2.3
    (-0.9%)
    SANRHEA TECHNICAL 132.6
    (0.7%)
    SARLA PERFORMANCE 73.5
    (-5.3%)
    SAYAJI INDUSTRIES 176.3
    (-2.8%)
    SEL MANUFAC 70.1
    (-3.9%)
    SHAHLON SILK IND 23.5
    (0.3%)
    SHANTI SPINTEX LTD. 70.1
    (-1.4%)
    SHEKHAWATI POLY 2.9
    (1.8%)
    SHESHADRI INDUSTRIES 13.8
    (1.9%)
    SHINE FASHIONS (INDIA) 180.2
    (5.0%)
    SHIVA MILLS 106.0
    (-4.0%)
    SHIVA SUITINGS 25.8
    (-5.0%)
    SHIVA TEXYARN 158.2
    (-4.7%)
    SHREE BHAVYA FABRICS 24.5
    (0.0%)
    SHREE KARNI FABCOM LTD. 409.0
    (-2.8%)
    SHREE MANUFACT. 15.9
    (4.3%)
    SHREE RAJASTHAN SYN. 7.0
    (0.0%)
    SHRI DINESH 479.2
    (-1.8%)
    SHUBHAM POLYSPIN 20.6
    (3.5%)
    SIGNORIA CREATION LTD. 145.0
    (-5.5%)
    SIL INVESTMENTS 509.7
    (-1.6%)
    SIMPLEX MILLS 4,389.6
    (-0.0%)
    SIYARAM SILK 461.6
    (-0.9%)
    SKS TEXTILES 13.1
    (0.0%)
    SOMA TEXTILES 33.0
    (-3.4%)
    SOURCE INDUST. 3.0
    (0.0%)
    SPECTRUM ELEC 1,414.0
    (-0.5%)
    SPL INDUSTRIES. 59.2
    (-1.9%)
    SPORTKING INDIA 792.3
    (-0.8%)
    SREE JAYALAK. 6.8
    (4.9%)
    SRF 2,291.9
    (-2.0%)
    SRI LAK.SAR. 46.6
    (-5.0%)
    SRI NACHAMAI 43.5
    (-9.7%)
    SRI NANDAA SPINNERS LTD. 4.9
    (-9.4%)
    SUBHASH SILK 24.2
    (0.0%)
    SUMEET INDUSTRIES 2.3
    (4.7%)
    SUNCITY SYNT 14.9
    (4.9%)
    SUNIL INDUS. 79.5
    (2.7%)
    SUPER FINE KNITTERS 12.6
    (-5.0%)
    SUPER SALES 1,799.8
    (-4.0%)
    SUPER SPINNING 6.6
    (-1.5%)
    SUPERTEX IND 11.0
    (-3.3%)
    SURAT TEXT. 9.8
    (-2.1%)
    SURBHI IND. 4.4
    (5.0%)
    SURYAAMBA SPINNING 158.7
    (0.3%)
    SURYALAKSHMI COTT 72.2
    (-0.6%)
    SURYALATA SP 396.6
    (-0.3%)
    SUTLEJ TEXTILES 54.9
    (-3.9%)
    SUUMAYA INDUSTRIES 8.1
    (0.0%)
    SUZLON FIBRE 7.6
    (1.1%)
    SWADESHI POLYTEX 324.0
    (5.0%)
    SWAN ENERGY 538.4
    (-4.9%)
    SWARAJ SUITING 215.2
    (1.5%)
    SWASTI VINAYAKA SYN 7.3
    (-2.7%)
    SYBLY INDUSTRIES 6.1
    (-0.2%)
    TATIA GLOBAL VEN. 3.8
    (-1.8%)
    TCNS CLOTHING CO. 427.4
    (-2.3%)
    TEJASSVI AAHARAM 67.7
    (-2.0%)
    TINE AGRO 36.8
    (0.0%)
    TITAANIUM TEN ENTERPRISES 32.0
    (5.2%)
    TRIDENT 37.7
    (-2.6%)
    TRIDENT TEXOFAB 44.6
    (-2.5%)
    TRITON CORP 0.5
    (0.0%)
    TT 109.4
    (0.2%)
    TUNI TEXTILE 1.8
    (-0.6%)
    UNISOCKS (I) 12.4
    (-0.5%)
    UNITED LEASING 28.1
    (5.0%)
    UNITED TEXT. 19.3
    (-5.1%)
    UNIWORTH 0.9
    (-2.1%)
    VALSON INDUS 28.5
    (0.1%)
    VANDANA KNITWEAR 4.3
    (-4.9%)
    VARDHMAN TEXTILES 426.2
    (-1.5%)
    VEEJAY LAKSH. 51.3
    (-1.2%)
    VEEKAYEM FASHION AND APPARELS LTD. 266.8
    (2.5%)
    VENTURA TEXTILES 11.5
    (-2.0%)
    VIJAY TEXTILE 16.8
    (-0.3%)
    VINNY OVERSEAS 4.5
    (-3.7%)
    VIP CLOTHING 37.1
    (-4.6%)
    VISHAL COTSPIN 62.3
    (5.0%)
    VIVAA TRADECOM LTD. 31.0
    (1.6%)
    VOITH PAPER 1,990.5
    (-0.0%)
    VTM LIMITED 67.3
    (-1.8%)
    WEIZMANN. 117.4
    (-3.8%)
    WELSPUN LIVING 139.2
    (-1.7%)
    WINSOME TEXTILE 81.0
    (-3.5%)
    WINSOME YARNS 3.6
    (-1.1%)
    WIRES & FABRIKS 154.2
    (0.1%)
    YORK EXPORTS 39.9
    (-5.0%)
    ZENITH EXPORTS 180.2
    (0.6%)