While things may be going for a toss for almost all apparel and textile related segments; there is one sector which has defied the tough times and is witnessing growth.
As per the latest reports and quarter results of most of the companies that are into manufacturing of innerwear, activewear and loungewear have registered growth even in these uncertain times when almost all parts of the country remain in lockdown and have restricted activity.
India’s athleisure market is estimated at Rs. 54,000 crore growing at 18-20 per cent annually.
Dollar Industries Q4 net profit jumps 58 percent to Rs 19 crore
Textiles major Dollar Industries Limited posted a 58 percent rise in its net profit to Rs 19 crore ($2.7 million) in the fourth quarter ended March 2021, as against a net profit of Rs 12 crore it had reported in the year-ago period.
The company’s revenue for the quarter grew by 29 percent to Rs 308 crore, as against Rs 237 crore it reported in the corresponding period of the previous year.
For the financial year 2020-21, the company reported a net profit of Rs 87 crore on a revenue of Rs 1040 crore.
Commenting on the results, Vinod Kumar Gupta, Managing Director of Dollar Industries Ltd, in a statement said: “This year under review has been overshadowed by the coronavirus where the economy is hit but the company reported positive revenue growth. This quarter the raw-material prices stabilised a bit before showing uncertainty in prices again. The company is poised to grow and continue its growth journey.”
Page Industries reports nearly four-fold jump in its net profit at Rs 115.56 crore
Apparel manufacturer Page Industries Ltd (PIL) on Thursday reported nearly four-fold jump in its net profit at Rs 115.56 crore for the fourth quarter ended March 2021.
The company had posted a net profit of Rs 31.02 crore during the January-March period a year ago/
Commenting on the results, PIL Managing Director Sunder Genomal said the company has witnessed a “strong demand pick-up” across all its product categories.
Bangalore-based Page Industries is the exclusive licensee of American underwear brand Jockey International for manufacture, distribution and marketing in countries such as India, Sri Lanka, Bangladesh, Nepal, UAE, Oman and Qatar. PIL is also the exclusive licensee of Speedo International for India.
LUX INDUSTRIES Profits Jump
Lux Industries’ product portfolio that includes men’s, women’s and kids’ innerwear, winterwear, socks and slacks for women has around 5,000 SKU’s (Stock Keeping Units) under various Brands and Sub Brands of LUX.
The company on reported a more-than-doubled net profit at Rs 90.64 crore in Q4FY21, on the back of healthy operational income. It had posted profit of Rs 41.49 crore in Q4FY20.
The company’s income from operations during the quarter under review jumped 49 per cent year on year (YoY) at Rs 601 crore as against Rs 404 crore in the corresponding quarter of previous fiscal.
The management said the strong performance has been driven by progressive improvement in demand and consumption across the innerwear industry.
The company witnessed healthy traction for economy and mid-premium categories and saw a gradual pickup in premium and export segment.
That said, the management expects the April-June quarter (Q1FY22) to be relatively weak due to the pandemic and expect to improve gradually from the second quarter. “The economic recovery will be back on track in the next few months as the company had witnessed in Q2 and Q3 of FY21,” the management said.
(ABFRL)’s active athleisure and innerwear segment grew 56 per cent
Driven by solid e-commerce growth Aditya Birla Fashion and Retail
(ABFRL)’s active athleisure and innerwear segment grew 56 per cent over the same quarter last year.
Van Heusen brand of ABFRL sells men’s and women’s innerwear, athleisure including tracks, joggers, t-shirts and shorts. In its earnings release as per the company, “The performance was also aided by aggressive demand for the category including comfortwear and athleisure.
On a full-year basis, the business recovered strongly and was ahead of last year levels, thus validating the strength of the brand Van Heusen in innerwear and athleisure categories.” “In FY21, ABFRL launched more than 400 new stores across businesses and formats and rationalised the network.
It scaled up across town classes through asset-light model and focused on new product categories in line with changing consumer preferences for more casual and active wear,” it added.
RUPA & COMPANY SEES A STRONG Q4 RESULTS
Innerwear manufacturer Rupa saw a strong set of numbers for the quarter ended March 2021 (Q4FY21).
The company posted a consolidated net profit of Rs 65.96 crore compared with a loss of Rs 4.28 crore in the corresponding quarter in the previous fiscal.
The company’s revenue from operations jumped 153 per cent year-on-year (YoY) to Rs 453.99 crore from Rs 179.30 crore posted in the same quarter year ago. On a quarter-on-quarter (QoQ) basis, the figure grew 31.3 per cent.
For the full financial year 2021, the company logged its highest-ever revenues and profits at Rs 1,312.7 crore and Rs 175.3 crore, respectively.
Commenting on the March quarter performance, Dinesh Kumar Lodha, CEO said, “Despite the challenges faced due to the pandemic, Rupa& Company recorded its highest-ever revenues and profits in FY2021. This was possible due to increased sales volumes, changes in product mix, improved operating efficiencies and cost reduction strategies.”
The company’s focus is to increase share in premium and super-premium category, improve focus on women, casual, and thermal wear, and foray into newer markets with higher penetration in the existing markets.