Textile and apparel sales in India surged 9 percent in the first nine months of financial year 2018-19. This was mentioned in the latest Wazir Textile Index (WTI).
Earnings before interest, tax, depreciation and amortization (EBITDA) soared 17 percent during the period while raw material cost zoomed 8 percent.
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The report shows that employee cost also increased by 7 percent and other operational costs jumped 10 percent.
The top textile and apparel companies in India also noted improvements in sales and EBITDA margins by 9 percent and 17 percent, respectively.
SRF Limited, a manufacturing company, reported the highest sales growth of 45 percent. However, Indo Rama Synthetics and RSWM observed a 28 percent and 2 percent slump, respectively.
India did slightly well on the export front with textile and apparel exports witnessing a 2 percent growth in total.
Apparel exports in particular dropped 8 percent during the nine-month period.
Overall textile and apparel imports by India rose 5 percent. Apparel alone witnessed a 52 percent rise in imports.