Home / Knowledge / News / Textiles / Din Textiles sees robust growth in 2013
Din Textiles sees robust growth in 2013
08
Jan '14
The year 2013 was a blessing for Pakistan’s textile industry, especially for the spinners. The country’s spinners made the most out of their competitiveness over India, courtesy good production of short staple fibre. Din Textile Mills, a part of the Din Group, is on cloud nine with double-digit growth in turnover and profits despite the factors like high inflation and power outages hitting country’s industrial performance.

The company recorded a growth of 74 per cent in Profit after Tax during the first quarter ended September 30, 2013 at Rs 129.71 million versus Rs 74.63 million in the corresponding quarter of previous fiscal. Sales also improved 17 per cent to Rs 2,237.6 million from Rs 1,910.32 million in the year ago period.

Factors which contributed to the company’s success also include rupee depreciation and the monsoon which did little damage to the standing cotton crop in Sindh and Punjab.

However, the road ahead looks tough for the spinners like Din Textiles amid uncertainty over China’s cotton procurement policy which has so far prompted Chinese mills to buy large amounts of cotton and yarn from countries like Pakistan. Chinese import of cotton yarn doubled between 2008 and 2011. In 2013 too, through the month of August, Chinese mills had imported 1.37 million tons of yarn and that demand also looked set to increase further.

But now, with the rising possibility of China selling off some of its cotton stockpiles, the dark clouds have emerged over sustainability of growth momentum recorded by Pakistan’s spinners in past year. Recently released November export numbers support this speculation as it showed yarn dispatches fell sharply by 22.8 percent month on month. Pakistani spinners, who had the best of the time with Chinese cotton procurement policy, are now most vulnerable also to the same policy.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search