Home / Knowledge / News / Textiles / National Textile Corporation runs into losses in 2013-14
National Textile Corporation runs into losses in 2013-14
Jul '14
National Textiles Corporation (NTC) has made profit in the year 2009-10, 2010-11, 2011-12 and 2012-13, but incurred loss during 2013-14.
The main reason for loss during 2013-14 has been due to increase in raw material cost by 10.55 % (i.e for Rs. 106.34 per/Kg (2012-13) to Rs. 117.56 per/kg (2013-14)), whereas sale rate of finished yarn increased by 2% only (for Rs. 211.77 per/Kg (2012-13) to Rs. 216.02 per/Kg(2013-14).
National Textile Corporation (NTC) has been implementing a revival scheme approved by Board for Industrial & Financial Reconstruction (BIFR) at a total cost of Rs. 9102 crore. Under this scheme, 78 mills have been closed down (Annexure–I), 22 mills are to be revived by NTC itself and 18 mills are to be operationlised through Joint Venture route. 2 mills have been taken out from joint venture list and revived by NTC itself.
Thus, 23 mills have been revived by NTC so far and one mill is slated to be set up as Technical Textiles unit in Rajasthan (Annexure–II). 5 mills are operational through JV route, (Annexure–III) remaining 11 mills are under arbitration as their Memorandum of Understanding (MoU) were cancelled on review. Under the scheme, 65000 employee approx were to be given Modified Voluntary Retirement Scheme (MVRS). 63295 employees have opted for MVRS at a compensation of Rs. 2378.75 crore so far.

National Textiles Corporation

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 29th Apr 2017

EU rules needed to curb textile worker exploitation: MEPs

European Union (EU) rules are needed to oblige textile and clothing...

Apparel/Garments | On 29th Apr 2017

US retail operating growth to be 1.5-2.5% in 2017: Moody's

The forecast for operating income growth in the US over the next 12...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Abhimanyu Singh Rathore & Barbara Anna Kosiorek

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Urs Stalder
Sanitized AG

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Rupa Sood and Sharan Apparao

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
April 2017

April 2017

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


Browse Our Archives


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