Denim Business Vertical & Management Overview
From CMD's Desk
RSWM Limited
an LNJ Bhilwara Group Company
Commenting on the results, Mr. Riju Jhunjhunwala, Chairman & Managing Director,
and CEO of RSWM Limited said,
"The textile industry faced challenges in FY23 due to various factors such as a
slowdown in demand from export markets, supply chain disruptions, and high
commodity costs which led to reduced margins. However, the sector is now showing
signs of recovery with improved demand due to normalized inventory levels, correction
in cotton prices and freight costs, and better utilization leading to higher EBITDA
margins. Domestic cotton prices have also corrected by 40% from their peak, reducing
the disparity between domestic and international cotton prices. The spinning industry is
returning to near-normal levels of utilization, indicating green shoots of recovery. The
Q4FY23 results serve as evidence of this. Despite short-term challenges, the industry
remains optimistic about future growth opportunities and is committed to expanding
product lines, fortifying financial footing, and increasing profits through operational
efficiency.
The Government's endeavor to transform India into a textile hub instills confidence, as
does the pursuit of a Free Trade Agreement (FTA) with major economies. At RSWM, we
exercise caution while maintaining an optimistic outlook on the sector, steadfastly
progressing with our strategic expansion plan. As a versatile and adaptable company
operating across different products and markets, our manufacturing facilities equip us
with the necessary capabilities to navigate demanding circumstances. With a solid
financial standing, an extensive range of products, and a committed workforce, we
remain hopeful that we will consistently generate robust outcomes and enhance value
for all our stakeholders."
www.rswm.in
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