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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 39.2
    (0.0%)
    AANANDA LAKSHMI 19.5
    (-2.0%)
    AARVEE DENIMS & EXPORT 67.1
    (2.0%)
    AB COTSPIN INDIA LTD. 347.2
    (1.8%)
    ACKNIT INDUSTRIES 289.9
    (-0.1%)
    ADDI IND. 40.5
    (0.7%)
    ADHINATH TEX. 29.1
    (2.0%)
    ADITYA SPIN. 27.0
    (1.6%)
    ADVANCE LIFESTYLES 54.1
    (0.0%)
    AKM LACE AND EMBROTEX 403.6
    (2.0%)
    AKSHAR SPINTEX 0.7
    (-1.4%)
    ALOK INDUSTRIES 20.6
    (-0.2%)
    AMARJOTHI SPINNING 185.8
    (1.9%)
    AMBASSADOR INTRA HOLDINGS 46.0
    (-5.0%)
    AMBIKA COTTON 1,448.3
    (0.1%)
    AMRAPALI INDUSTRIES 17.0
    (2.1%)
    AMRAWORLD AGRICO 1.2
    (0.8%)
    ANGEL FIBERS 24.9
    (0.0%)
    ANJANI SYNTHETICS 45.6
    (4.4%)
    APM INDUSTRIES 46.8
    (-1.3%)
    ARVIND 344.8
    (2.8%)
    ASHIMA. 31.4
    (2.2%)
    ASHNOOR TEXTILE 54.7
    (5.0%)
    AUNDE FAZE THREE 91.9
    (-0.2%)
    AVI ANSH TEXTILE LTD. 79.1
    (-1.8%)
    AVIVA INDUSTRIES 27.8
    (2.0%)
    AXITA COTTON 12.9
    (-0.8%)
    AYM SYNTEX 232.5
    (0.6%)
    BANG OVERSEAS 56.5
    (0.8%)
    BANNARI AMMAN SPIN 52.7
    (-1.5%)
    BANSWARA SYNTEX 132.2
    (-0.9%)
    BARODA RAYON 181.7
    (0.0%)
    BELLA CASA FASHION 502.2
    (0.4%)
    BENGAL TEA 175.0
    (-2.0%)
    BETEX INDIA 369.3
    (2.0%)
    BHANDARI HOSIERY 6.3
    (0.8%)
    BHILWARA TECHNICAL TEX. 42.9
    (2.8%)
    BILLWIN INDUSTRIES 46.0
    (6.0%)
    BINAYAK TEX PROC. 1,749.0
    (-1.7%)
    BINDAL EXPORTS 25.8
    (0.0%)
    BINNY 141.0
    (-2.8%)
    BINNY MILLS 208.1
    (-5.0%)
    BIZOTIC COMMERCIAL 105.8
    (-2.0%)
    BL.CHIP TEX 146.2
    (2.5%)
    BLACK ROSE IND 130.1
    (0.9%)
    BOMBAY DYEING 206.9
    (1.1%)
    BSL. 222.8
    (0.7%)
    CENTURY ENKA 624.5
    (2.1%)
    CHANDNI MACHINES 56.7
    (-4.2%)
    CHEVIOT CO. 1,237.1
    (0.0%)
    CIL NOVA PETRO 84.2
    (-2.0%)
    CITYMAN 26.3
    (5.0%)
    CPS SHAPERS LTD. 456.3
    (3.7%)
    DAMODAR INDUSTRIES 41.2
    (1.3%)
    DCM 92.5
    (2.6%)
    DCM NOUVELLE 190.0
    (2.0%)
    DHANLAXMI FABRICS 60.1
    (4.9%)
    DHANLAXMI ROTO SPINNERS 195.7
    (-2.3%)
    DIGJAM 82.2
    (-4.0%)
    DIVYADHAN RECYCLING INDUSTRIES LTD. 83.3
    (6.8%)
    DOLLAR INDUSTRIES 503.7
    (-0.5%)
    DONEAR IND. 108.3
    (-0.4%)
    E LAND APPAREL 14.9
    (3.2%)
    EASTERN SILK IND 2.1
    (-4.9%)
    EUROTEX IND 17.4
    (-5.0%)
    EVERLON SYN. 135.0
    (4.7%)
    FAZE THREE 395.4
    (2.3%)
    FIBERWEB (INDIA) 47.8
    (0.0%)
    FILATEX FASHIONS 0.9
    (1.1%)
    FILATEX INDIA 64.2
    (0.2%)
    FLORA TEXTILES 144.8
    (-2.0%)
    FORCAS STUDIO LTD. 95.0
    (-3.3%)
    GAEKWAR MILLS 13.1
    (5.0%)
    GANESHA ECOSPHERE 2,255.4
    (-4.0%)
    GANGOTRI TEX 1.3
    (3.2%)
    GARMENT MANTRA LIFESTYLE 2.4
    (0.0%)
    GARWARE TECHNICAL 4,427.2
    (-5.6%)
    GEM SPINNERS 9.7
    (-1.9%)
    GHCL TEXTILES 93.1
    (0.4%)
    GINNI FILAM. 27.9
    (0.9%)
    GIVO. 2.3
    (-4.6%)
    GLOBALE TESSILE LTD. 32.7
    (2.0%)
    GLOBE TEXTILES (INDIA) 4.4
    (1.4%)
    GLOBUS CONST. 17.6
    (0.1%)
    GLOSTER 664.6
    (-0.1%)
    GO FASHION (INDIA) 1,088.2
    (2.7%)
    GOKAK TEXTILES 165.5
    (-5.0%)
    GOLDEN CARPE 13.0
    (-2.2%)
    GRASIM 2,503.6
    (-0.6%)
    GTN INDUSTRIES 35.3
    (-0.8%)
    GTN TEXTILES LIMITED 12.3
    (-0.4%)
    GUJARAT COTEX 12.1
    (-5.0%)
    HAR.FIBRES 22.6
    (0.0%)
    HARIA APPARELS 5.2
    (-1.1%)
    HARISH TEXTILE ENGINEERS 91.2
    (2.0%)
    HIGH STREET 71.4
    (5.0%)
    HIMATSINGKA SEIDE 164.2
    (3.1%)
    HISAR SPIN. 69.3
    (5.0%)
    INDO COUNT 318.2
    (2.0%)
    INDO RAMA SYN 38.9
    (0.7%)
    INTEGRA ESSENTIA 3.1
    (0.0%)
    IRIS CLOTHINGS 66.4
    (1.8%)
    JAGJANANI TEXTILES 10.9
    (-0.5%)
    JAKHARIA FABRIC 36.4
    (0.0%)
    JAMSHRI RANJ 150.7
    (-2.0%)
    JATTA POLY 118.3
    (2.0%)
    JAYKAY ENTERPRISES 121.0
    (4.7%)
    JINDAL COTEX 2.6
    (1.6%)
    JINDAL POLYFILMS 806.1
    (-1.3%)
    JIWANRAM SHEODUTTRAI INDUSTRIES LTD. 15.4
    (3.4%)
    KAKATIYA TEXT. 24.0
    (-0.0%)
    KALLAM SPG. 6.3
    (2.8%)
    KAMA HOLDINGS 2,597.3
    (0.3%)
    KAMADGIRI SY 113.5
    (5.0%)
    KANDAGIRI SPINNING 30.4
    (-0.3%)
    KAPIL COTEX 252.3
    (-5.0%)
    KARNIKA INDUSTRIES LTD. 279.8
    (1.0%)
    KEWAL KIRAN CLOTHING 604.7
    (0.3%)
    KHOOBSURAT 0.7
    (-1.4%)
    KIRAN SYNTEX 7.8
    (-4.1%)
    KITEX GARMENTS 637.2
    (5.0%)
    KIZI APPARELS LTD. 25.1
    (-2.1%)
    KIZI APPARELS LTD. 25.1
    (-2.1%)
    KPR MILL 930.6
    (3.6%)
    LA-MERE APP. 49.5
    (2.0%)
    LAKHOTIA POLY 32.3
    (5.0%)
    LAKSHMI MILLS 6,405.1
    (-0.3%)
    LAMBODHARA TEXTILES 161.7
    (-1.0%)
    LAXMI COTSPIN 32.1
    (1.3%)
    LE MERITE EXPORTS 229.3
    (-0.8%)
    LORENZINI APPARELS 26.1
    (1.0%)
    LOVABLE LINGERIE 116.8
    (0.3%)
    LOYAL TEXTILE MILLS 353.9
    (-1.7%)
    LUDLOW JUTE 145.8
    (-3.5%)
    LUX INDUSTRIES 1,764.4
    (-1.5%)
    LWS KNITWEAR 44.3
    (-2.7%)
    M. K. EXIM 90.7
    (-0.6%)
    MAHALAXMI RUBTECH 151.4
    (-0.8%)
    MANDHANA INDUSTRIES 9.8
    (-4.8%)
    MANOMAY TEX INDIA 188.0
    (1.7%)
    MARAL OVERSEAS 73.2
    (0.9%)
    MARIS SPIN. 35.0
    (1.4%)
    MARKOBENZ VENTURES LTD. 11.0
    (1.9%)
    MEERA INDUSTRIES 77.1
    (5.0%)
    MID INDIA INDUS. 9.7
    (-1.9%)
    MISH DESIGNS 161.8
    (-5.0%)
    MOHIT INDUST. 26.2
    (-4.8%)
    MONTE CARLO 764.9
    (4.2%)
    MORARJEE TEXTILES 9.1
    (-3.0%)
    NAGREEKA EXPORTS 34.8
    (-1.4%)
    NAHAR INDUSTRIES 132.6
    (3.0%)
    NAHAR POLY FILMS 264.1
    (2.0%)
    NAHAR SPINNING M 241.9
    (2.3%)
    NANDAN DENIM 5.2
    (-1.9%)
    NANDANI CREATION 40.0
    (-0.8%)
    NEELAM LINENS AND GARMENTS (INDIA) LTD. 40.0
    (5.0%)
    NEO INFRACON 27.6
    (-0.0%)
    NEW LIGHT APPARELS 12.8
    (2.0%)
    NIBE LIMITED 1,668.5
    (-1.0%)
    NITIN SPINNER 369.5
    (-4.1%)
    NUTECH GLOBAL 21.2
    (4.4%)
    NUTRICIRCLE 225.2
    (-5.0%)
    OMKAR OVERSEAS 5.7
    (5.0%)
    ORBIT EXPORTS 174.4
    (5.0%)
    OSIAJEE TEXFAB 51.5
    (2.0%)
    OSWAL YARNS 93.2
    (2.0%)
    OVERSEAS SYNTHETICS 167.7
    (5.0%)
    PAGE INDUSTRIES 44,614.2
    (1.2%)
    PARAMOUNT DYE TEC LTD. 89.0
    (2.2%)
    PARAS PETROFILS 3.1
    (0.0%)
    PASARI SPIN 9.9
    (-2.0%)
    PASUPATI ACRYLON 39.7
    (-0.2%)
    PASUPATI SPG 33.0
    (3.9%)
    PATSPIN INDIA 12.8
    (0.5%)
    PBM POLYTEX 82.3
    (-1.9%)
    PEARL GLOBAL 1,095.5
    (6.8%)
    PEETI SECURITIES 21.8
    (-1.1%)
    PIONEER EMBROID. 46.1
    (2.7%)
    PODDAR HOUSING & DEVELOPMENT 66.1
    (-1.4%)
    PRAKASH WOOL 36.3
    (0.4%)
    PRECOT MERIDIAN 559.4
    (-2.0%)
    PREMCO GLOB. 574.4
    (5.0%)
    PREMIER SYNTHETICS 19.4
    (0.1%)
    PRIME URBAN DEV. 11.6
    (6.3%)
    RAGHUVIR SYNTHETICS 133.6
    (1.5%)
    RAJ RAYON IND. 23.5
    (-1.6%)
    RAJASTHAN PETRO 3.8
    (0.0%)
    RAJKAMAL SYNT. 59.8
    (-2.0%)
    RAMGOPAL POL 5.9
    (-5.5%)
    RANGOLI TRADECOMM 3.0
    (-3.5%)
    RAYMOND 1,483.5
    (1.3%)
    REDTAPE 809.2
    (-0.4%)
    RELIANCE CHEMOTEX 214.4
    (1.4%)
    RIBA TEXTILES 91.4
    (5.7%)
    RITESH INTER 31.2
    (2.0%)
    RSC INTERNATIONAL 15.8
    (0.0%)
    RSWM 174.5
    (3.4%)
    RUBY MILLS 221.0
    (2.7%)
    RUDRA ECOVATION 57.5
    (-2.2%)
    S V GLOBAL 139.7
    (2.0%)
    S&T CORPORATION 9.2
    (-1.9%)
    S.P. APPARELS 830.2
    (0.4%)
    SAHAJ FASHIONS LTD. 12.6
    (-10.6%)
    SALONA COTSPIN 308.9
    (2.2%)
    SAMBANDAM SPIN 140.0
    (0.3%)
    SAMTEX FASHIONS 3.0
    (-1.7%)
    SANRHEA TECHNICAL 160.5
    (0.0%)
    SARLA PERFORMANCE 89.8
    (0.8%)
    SAYAJI INDUSTRIES 308.0
    (-0.6%)
    SD RETAIL LTD. 149.3
    (-3.6%)
    SEL MANUFAC 43.4
    (1.0%)
    SHAHLON SILK IND 20.9
    (1.8%)
    SHANTI SPINTEX LTD. 65.5
    (-1.5%)
    SHEKHAWATI POLY 41.9
    (-2.0%)
    SHESHADRI INDUSTRIES 13.6
    (-8.1%)
    SHINE FASHIONS (INDIA) 343.0
    (2.0%)
    SHIVA MILLS 86.4
    (1.0%)
    SHIVA SUITINGS 27.3
    (-5.0%)
    SHIVA TEXYARN 236.5
    (3.7%)
    SHREE BHAVYA FABRICS 24.2
    (2.0%)
    SHREE KARNI FABCOM LTD. 516.2
    (-5.0%)
    SHREE MANUFACT. 13.9
    (2.0%)
    SHREE RAJASTHAN SYN. 19.7
    (-5.0%)
    SHRI DINESH 399.4
    (-0.2%)
    SHUBHAM POLYSPIN 24.6
    (2.9%)
    SIGNORIA CREATION LTD. 152.0
    (-5.0%)
    SIL INVESTMENTS 734.1
    (1.2%)
    SIMPLEX MILLS 5,200.0
    (0.3%)
    SIYARAM SILK 688.9
    (5.0%)
    SKS TEXTILES 13.1
    (0.0%)
    SOMA TEXTILES 46.2
    (4.2%)
    SOURCE INDUST. 3.0
    (-2.0%)
    SPECTRUM ELEC 1,743.3
    (7.7%)
    SPL INDUSTRIES. 55.9
    (-2.0%)
    SPORTKING INDIA 92.5
    (2.0%)
    SREE JAYALAK. 65.1
    (2.0%)
    SRF 2,198.7
    (0.9%)
    SRI LAK.SAR. 45.2
    (-2.0%)
    SRI NACHAMAI 35.9
    (1.0%)
    SRI NANDAA SPINNERS LTD. 4.9
    (-9.4%)
    SUBHASH SILK 25.9
    (0.0%)
    SUMEET INDUSTRIES 4.8
    (1.9%)
    SUNCITY SYNT 21.1
    (-5.0%)
    SUNIL INDUS. 72.0
    (4.7%)
    SUPER FINE KNITTERS 13.0
    (-2.8%)
    SUPER SALES 1,246.2
    (0.5%)
    SUPER SPINNING 12.3
    (-2.0%)
    SUPERTEX IND 10.6
    (0.8%)
    SURAT TEXT. 8.7
    (0.4%)
    SURBHI IND. 6.8
    (4.9%)
    SURYAAMBA SPINNING 147.0
    (0.5%)
    SURYALAKSHMI COTT 77.1
    (4.0%)
    SURYALATA SP 310.1
    (0.3%)
    SUTLEJ TEXTILES 59.0
    (1.6%)
    SUUMAYA INDUSTRIES 4.0
    (-1.2%)
    SUZLON FIBRE 8.0
    (-4.8%)
    SWADESHI POLYTEX 112.9
    (-2.0%)
    SWAN ENERGY 537.8
    (-1.4%)
    SWARAJ SUITING 242.0
    (-2.0%)
    SWASTI VINAYAKA SYN 6.9
    (1.3%)
    SYBLY INDUSTRIES 10.4
    (0.0%)
    TATIA GLOBAL VEN. 2.9
    (-2.0%)
    TCNS CLOTHING CO. 583.9
    (2.1%)
    TEJASSVI AAHARAM 26.3
    (-4.6%)
    TINE AGRO 19.9
    (2.0%)
    TITAANIUM TEN ENTERPRISES 85.0
    (2.0%)
    TITAN INTECH 42.8
    (6.8%)
    TRIDENT 31.9
    (0.8%)
    TRIDENT TEXOFAB 105.1
    (2.0%)
    TRITON CORP 0.5
    (-3.9%)
    TT 163.7
    (-0.4%)
    TUNI TEXTILE 1.8
    (0.6%)
    UNITED COTFAB LTD. 43.0
    (5.0%)
    UNITED LEASING 16.5
    (-4.1%)
    UNITED TEXT. 17.0
    (-5.0%)
    UNIWORTH 1.0
    (4.2%)
    VALSON INDUS 29.0
    (0.2%)
    VANDANA KNITWEAR 6.4
    (4.9%)
    VARDHMAN TEXTILES 448.6
    (0.0%)
    VEEJAY LAKSH. 55.3
    (5.0%)
    VEEKAYEM FASHION AND APPARELS LTD. 270.0
    (3.4%)
    VENTURA TEXTILES 14.5
    (0.8%)
    VIJAY TEXTILE 12.2
    (5.0%)
    VINNY OVERSEAS 1.8
    (-1.7%)
    VIP CLOTHING 42.8
    (4.5%)
    VISHAL COTSPIN 102.0
    (2.0%)
    VIVAA TRADECOM LTD. 42.0
    (-6.7%)
    VOITH PAPER 2,192.2
    (2.7%)
    VTM LIMITED 86.4
    (-1.0%)
    WEIZMANN. 127.3
    (2.1%)
    WELSPUN LIVING 148.6
    (0.7%)
    WINSOME TEXTILE 92.0
    (-2.0%)
    WINSOME YARNS 3.7
    (1.4%)
    WIRES & FABRIKS 225.4
    (4.3%)
    YORK EXPORTS 45.3
    (-1.5%)
    ZENITH EXPORTS 330.0
    (0.0%)