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Economic Times
08-07-2025
- Business
- Economic Times
Gokaldas Exports, other textile stocks zoom up to 8% as US slaps 35% tariff on Bangladesh
The newly announced tariff, set to take effect on August 1, is slightly lower than the 37% rate initially proposed in April. Nevertheless, it remains well above the standard 10% baseline and is likely to affect Bangladesh's competitiveness in the global garment supply chain. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shares of Indian textile companies including Gokaldas Exports Vardhman Textiles , and Arvind Ltd zoomed up to 8.2% in intraday trade on Tuesday, July 8, after the US administration, under President Donald Trump, announced a 35% tariff on Bangladesh, with specific implications for the apparel and textile shares of Gokaldas Exports surged 8.2% on Tuesday, reaching a high of Rs 974.70, and leading the gains among textile stocks . Vardhman Textiles shares followed closely, rising 7.9% to touch Rs 537.70. KPR Mill shares climbed 4% to reach Rs 1,204.85 during the session, while the shares of Arvind Ltd gained 2.9%, hitting an intraday high of Rs newly announced tariff, which takes effect from August 1, is a slight drop from the 37% rate that had been proposed earlier in April. However, it still stands significantly above the standard 10% tariff baseline and is expected to impact Bangladesh's competitiveness in the global garment supply the US has left the door open for negotiations in the weeks leading up to the implementation, the announcement has already prompted a reassessment of sourcing strategies among American tariff escalation comes on the heels of a recent trade agreement signed between the US and Vietnam, which imposes a 20% tariff on direct Vietnamese exports and a steeper 40% duty on transshipped goods—exports routed through Vietnam but originating in other countries to bypass tariff India faces a 10% tariff on textile exports to the US, but due to product classifications and differential rates, some segments experience tariffs as high as 26%. The shift in tariff dynamics is expected to realign competitive advantages, especially if further negotiations tilt in India's is likely to closely track the developments around a potential trade agreement between India and the US, especially after the return of an Indian delegation from Washington last week. Any easing of tariff burdens on Indian textile exports during such a deal could help improve India's price competitiveness and expand its market share in the it should be noted that if tariff levels remain unchanged for Indian goods while others are adjusted downward, especially for Vietnam, India's advantage in the export market may narrow.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
09-06-2025
- Business
- Time of India
Good chance that India and EU will finalise trade deal by year-end: Finnish ambassador
Finland's Ambassador to India, Kimmo Lahdevirta , expressed confidence on Monday about finalising a much-awaited trade deal between India and the European Union (EU) by year-end. The ambassador inaugurated the honorary consulate of Finland in Ahmedabad. Kulin Lalbhai, a prominent businessman from Gujarat and Vice Chairman of Arvind Ltd , has been appointed as the Honorary Consul of Finland. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like I lost my wife, now my son is in danger, please help him! Donate For Health Donate Now Undo The Finnish ambassador termed as "historic" the visit of the European Union College of Commissioners to India in February, stressing for a solution agreeable to both parties. "It was a really historic visit, and I think it also created very good momentum for the negotiations to go ahead. I think both leaders on the European side and India are now committed to the goal of having an agreement by the end of this year," he told reporters. Live Events Admitting that a lot of work needs to be done, Lahdevirta emphasised there is a good chance to achieve this goal. "At the moment, I would say that the momentum and the prospects are very good," he added. Lahdevirta said the overall annual trade between India and Finland is nearly 3 billion Euros. When asked about Finland's views on the outcome of the trade deal, he stressed "meaningful" tariffs on industrial goods. "Well, from our side, of course, a meaningful tariff level for industrial goods is very important. But it is of course important to reach a solution which both sides feel is just and beneficial. So, finding the balance is the key. But I don't want to go into more specifics here. It's up for the European Commission (to decide)," he said. He said a Finnish business delegation led by him will meet the representatives of the Gujarat government on Tuesday, and added that several Finnish companies are interested in investing. He said the honorary consulate reflects the deepening partnership between India and Finland and growing business interest. "Nearly 10 Finnish companies are already present in Gujarat. Our cooperation has focused on energy, but today, Finnish companies are engaged across multiple sectors: clean energy, circular economy, skilling, smart infrastructure, and sustainable design. Gujarat offers an ideal environment for these collaborations to flourish," the ambassador said. He said Finnish companies are contributing to Gujarat's growth and development goals through world-class technologies, sustainable solutions, and investments.
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Business Standard
09-06-2025
- Business
- Business Standard
India-EU trade deal likely to finalise by year-end, says Finnish ambassador
Finland's Ambassador to India, Kimmo Lhdevirta, expressed confidence on Monday about finalising a much-awaited trade deal between India and the European Union (EU) by year-end. The ambassador inaugurated the honorary consulate of Finland in Ahmedabad. Kulin Lalbhai, a prominent businessman from Gujarat and Vice Chairman of Arvind Ltd, has been appointed as the Honorary Consul of Finland. The Finnish ambassador termed as "historic" the visit of the European Union College of Commissioners to India in February, stressing for a solution agreeable to both parties. "It was a really historic visit, and I think it also created very good momentum for the negotiations to go ahead. I think both leaders on the European side and India are now committed to the goal of having an agreement by the end of this year," he told reporters. Admitting that a lot of work needs to be done, Lhdevirta emphasised there is a good chance to achieve this goal. "At the moment, I would say that the momentum and the prospects are very good," he added. Lhdevirta said the overall annual trade between India and Finland is nearly 3 billion Euros. When asked about Finland's views on the outcome of the trade deal, he stressed "meaningful" tariffs on industrial goods. "Well, from our side, of course, a meaningful tariff level for industrial goods is very important. But it is of course important to reach a solution which both sides feel is just and beneficial. So, finding the balance is the key. But I don't want to go into more specifics here. It's up for the European Commission (to decide)," he said. He said a Finnish business delegation led by him will meet the representatives of the Gujarat government on Tuesday, and added that several Finnish companies are interested in investing. He said the honorary consulate reflects the deepening partnership between India and Finland and growing business interest. "Nearly 10 Finnish companies are already present in Gujarat. Our cooperation has focused on energy, but today, Finnish companies are engaged across multiple sectors: clean energy, circular economy, skilling, smart infrastructure, and sustainable design. Gujarat offers an ideal environment for these collaborations to flourish," the ambassador said. He said Finnish companies are contributing to Gujarat's growth and development goals through world-class technologies, sustainable solutions, and investments.
Fibre2Fashion
20-05-2025
- Business
- Fibre2Fashion
India's Arvind closes FY25 with $975.2 mn revenue, strong Q4 results
Indian textile and apparel company Arvind Ltd has reported a consolidated revenue of ₹8,329 crore (~$975.2 million) in full year 2024-25 ended March 31, 2025. Meanwhile, the EBITDA reached ₹919 crore, with an EBITDA margin of 11 per cent. The textile division posted annual revenue of ₹6,174 crore and EBITDA of ₹626 crore, with a margin of 10 per cent, despite disruptions due to industrial action. Arvind Ltd reported revenue of ₹8,329 crore (~$975.2 million) and EBITDA of ₹919 crore with an 11 per cent margin in FY25. Strong Q4 growth was seen across textiles and garments, led by AMD and robust fabric volumes. The company advanced sustainability with a 25-year renewable energy PPA and is exploring UK FTA gains. Amid US tariffs, it focuses on volume growth and cost control, deferring FY26 guidance. The apparel manufacturing division (AMD) recorded revenue of ₹1,544 crore and EBITDA of ₹231 crore with a 15 per cent margin. Profit before tax (PBT) stood at ₹494 crore, up 7 per cent YoY. Profit after tax (PAT) remained at ₹353 crore. The company invested ₹483 crore in capital expenditure projects. For the full year, denim fabric achieved 51.6 million metres, growing 8 per cent with a healthy capacity utilisation of approximately 90 per cent. Woven fabric full-year volumes stood at 128 million metres. Garmenting division recorded 37.2 million pieces, reflecting a growth of 16 per cent. In the fourth quarter of 2024-25, Arvind Ltd generated a consolidated revenue of ₹2,221 crore (~$260 million), up 7 per cent year-over-year (YoY) and an EBITDA of ₹275 crore (~$32.2 million), up 10 per cent, reflecting a margin of 12.4 per cent—the highest in the last 16 quarters, Arvind Ltd said in a press release. AMD achieved its highest-ever revenue and EBITDA at ₹451 crore and ₹69 crore respectively, marking a YoY growth of 17 per cent and 13 per cent. The quarter's performance was driven by successful operational transformation initiatives and the acquisition of new and marquee customers in the garmenting segment, which contributed to stronger volumes and improved margins, particularly in the second half (H2) of FY25. The quarter reflected strong demand momentum across key segments. Denim fabric volumes reached 14.6 million metres, the highest in the past 11 quarters, marking a YoY growth of 14 per cent. The woven fabric, operating at nearly full capacity, recorded a volume of 33.2 million metres in Q4, registering a 5 per cent growth. The garmenting division also delivered a robust performance, achieving 9.5 million pieces in Q4—the highest in 12 quarters. Arvind Ltd has reaffirmed its long-term commitment to sustainability by signing a 25-year power purchase agreement (PPA) to source electricity from renewable energy. Under this agreement, Arvind, along with other participating members, will subscribe to up to 26 per cent equity to qualify as a Group Captive user. This strategic move is expected to raise the company's share of renewable energy to around 60 per cent. With an attractive payback period of under two years, the investment is projected to enhance EBITDA margins by approximately 30–40 basis points by FY27. The recently signed UK free trade agreement marks a significant positive development for the industry and presents a valuable opportunity for Arvind Ltd, particularly in a geography that currently contributes less than 2 per cent to its business, added the release. Simultaneously, the newly imposed tariff measures by the US have had wide-ranging effects on the global economy, introducing both opportunities and uncertainties. In the short term, the company is experiencing increased demand for garments and fabrics, with encouraging signals from key US customers pointing towards higher business volumes. However, margins may face pressure as part of the tariff burden is being absorbed in pricing. To mitigate this, Arvind is implementing proactive strategies focused on scaling volumes and optimising costs. Given the fluid nature of the global business environment, Arvind stated that it is premature to issue formal guidance for FY26. Fibre2Fashion News Desk (SG)
Fashion Network
19-05-2025
- Business
- Fashion Network
Arvind Ltd Q4 net profit rises 52 percent to Rs 151 crore
Arvind Ltd, a textiles and apparel manufacturer reported a 52 percent increase in net profit to Rs 151 crore ($17.9 million) for the fourth quarter ended March 31, as against Rs 99 crore in the year-ago quarter. The company's revenue for the quarter rose by 7 percent to Rs 2,221 crore, as against Rs 2,075 crore in the corresponding quarter of the previous fiscal year. For the full financial year, the company's revenue stood at Rs 8,329 crore while its net profit for the year was Rs 353 crore. Among the top growth drivers were denim fabric, woven fabric and Arvind Ltd's garmenting division. 'Given the prevailing uncertainty, it's premature to provide FY26 guidance, as the business environment remains hard to predict; however, the long-term strategy stays on course,' Arvind said in a statement. 'Due to the recent US tariff measures, the company is witnessing higher demand for garments and fabrics, with positive signals from key US customers indicating increased business. However, margins may come under pressure as part of the tariff increase is being absorbed in the selling price,' it added. Arvind is one of the largest textile companies in India and is an end-to-end supply chain partner to the world's leading fashion brands.
