maris spinners ltd share price Management discussions

  2. The Company is in the business of manufacturing 100% Cotton Yarns, having its units at Hunsur, Mysore Dt., Karnataka and Manapparai, Trichy District, Tamilnadu. The unit supplies its produce to the domestic markets.


Indias textiles sector is one of the oldest industries in the Indian economy, dating back to several centuries. The industry is extremely varied, with hand-spun and hand-woven textiles sectors at one end of the spectrum, with the capital-intensive sophisticated mills sector at the other end. The fundamental strength of the textile industry in India is its strong production base of a wide range of fibre/yarns from natural fibres like cotton, jute, silk and wool, to synthetic/man-made fibres like polyester, viscose, nylon and acrylic.

The decentralized power looms/ hosiery and knitting sector form the largest component of the textiles sector. The close linkage of textiles industry to agriculture (for raw materials such as cotton) and the ancient culture and traditions of the country in terms of textiles makes it unique in comparison to other industries in the country. Indias textiles industry has a capacity to produce a wide variety of products suitable for different market segments, both within India and across the world.

In order to attract private equity and employee more people, the government introduced various schemes such as the Scheme for Integrated Textile Parks (SITP), Technology Upgradation Fund Scheme (TUFS) and Mega Integrated Textile Region and Apparel (MITRA) Park scheme.

The Indian textile and apparel industry is expected to grow at 10% CAGR from 2019-20 to reach US$ 190 billion by 2025-26. India has a 4% share of the global trade in textiles and apparel.

India is the worlds largest producer of cotton. Estimated production stood at 362.18 lakh bales during cotton season 2021-22. Domestic consumption for the 2021-22 cotton season is estimated to be at 338 lakh bales. Cotton production in India is projected to reach 7.2 million tonnes (~43 million bales of 170 kg each) by 2030, driven by increasing demand from consumers. In FY23, exports of readymade garments (RMG) cotton including accessories stood at US$ 7.68 billion till January 2023. It is expected to surpass US$ 30 billion by 2027, with an estimated 4.6-4.9% share globally.

Indias textile and apparel exports (including handicrafts) stood at US$ 44.4 billion in FY22, a 41% increase YoY. During April-October in FY23, the total exports of textiles stood at US$ 21.15 billion. Indias textile and apparel exports to the US, its single largest market, stood at 27% of the total export value in FY22. Exports of readymade garments including cotton accessories stood at US$ 6.19 billion in FY22.

Indias textiles industry has around 4.5 crore employed workers including 35.22 lakh handloom workers across the country.


The industry (including dyed and printed) attracted foreign direct investment (FDI) worth US$ 4.067 billion from April 2000-December 2022. The textiles sector has witnessed a spurt in investment during the last five years.


The Indian government has come up with several export promotion policies for the textiles sector. It has also allowed 100% FDI in the sector under the automatic route.

  1. Strengths:
  1. Basic raw materials:
  2. The strong point of India is that, it is very self-sufficient in raw materials, especially when it comes to natural fibers. It is seen that, the third-largest cotton crop in the world is grown in India. The speciality of Indian textile industry is that, all types of fibres are produced and handled here.

  3. Labour:
  4. The Indian apparel and textile industry has long been supported by low-cost labour and strong entrepreneurial abilities.

  5. Adaptability:

The garment industrys predominately small-scale manufacturing gives for more flexibility in handling more specific and smaller orders.

The textile sector in India offers a number of advantages. The first is the accessibility of inexpensive labour. According to facts, the country has highly skilled labour available for very little money, which lowers the cost of production. India has a lot of raw materials available, which helps to minimise costs and shorten lead times. Resources including jute, cotton, silk, and cotton yarn, as well as man-made fibres, are particularly abundant in India. Another highlight area of India is its large diversity of cotton fibres that stands India apart from other nations. They go on to say that the textile as well as garment sector in India is very self-reliant one. From the acquisition of raw materials through the creation of completed items, it has a whole value chain.

  1. Weaknesses:
  1. Increased reliance on cotton:
  2. Due to over-concentration on cotton, the majority of the global market is ignored, synthetic products are expensive in India, and the fabric needed for items like swimwear, skywear, and industrial gear is comparatively scarce.

  3. The Spinning Sector:
  4. The spinning industry has to adopt new technologies because it is not modernized.

  5. The Weaving Sector:
  6. India has a comparatively small number of looms without shuttles.

  7. Processing of Fabrics:
  8. The weakest link in the Indian textile value chain is processing, which has a negative impact on the countrys capacity to compete in export markets.

  9. Deficient Infrastructure:
  10. Indias export competitiveness is being harmed along the entire textile supply chain by high electricity prices and lengthy export lead times.

  11. Low Labour Productivity:

In India, productivity levels for producing different types of clothing are much lower.

  1. Opportunities:
  1. Increased Industry:
  2. By 2030, the global textile market would increase at a rate of 7.60%, reaching $1695 billion.

  3. Market entry via bilateral negotiations:
  4. Due to bilateral agreements between participating nations, trade between regional trade blocs is expanding.

  5. Information technology integration:
  6. In the production of clothing, "Supply Chain Management" and "Information Technology" are essential. The availability of EDI (Electronic Data Interchange) facilitates quick, simple, transparent communication and minimizes duplication.

  7. The Possibility of High-Value Items:

India has the chance to raise its UVRs (Unit Value Realization) through rising up the value chain, creating value-added goods, and developing a steadily growing number of technologically advanced goods.

Technical textiles, product development and diversification, FDI, and brand awareness are just a few of the prospects available to the Indian textile sector. The Indian textile sector can maintain its current expansion and prosper in the near future thanks to technical fabrics. Additionally, it will aid in the development of the sector (Rakshit, Hira, and Gangopadhyay, 2007). India uses relatively little technological textiles. In the upcoming years, both woven and nonwoven technology textiles will prosper in India.

  1. Threats:
  1. Decline in the fashion cycle:
  2. The number of seasons per year has increased, shortening the cycle of fashion as a result.

  3. Formation of Trading Blocks:

The world trade environment has changed as a result of trading blocs like NAFTA, SAPTA, etc. If there were bilateral agreements, Indian exports would suffer significantly.

It is clearly found that, China shows the greatest and big challenge to the Indian textile industry on and around the international market. India is also threatened because of the low-cost producers such as Pakistan and Bangladesh, which can decrease Indias demand for exports in the future. The another point of threat is Indias geographic distance from the US, Europe, and Japans three largest markets, as opposed to rivals Mexico, China, etc., which are geographically closer. Long lead times and high transportation costs are the results of great distance.


The global textile market is currently worth $400 billion. According to data and the facts it is forecasted that, the output of textiles will rise by 25% globally, with Asia playing a major role. As per as the Indian textile and apparel sector is considered as one of the largest in the world, plays a vital role in the Indian economy, and is very old. The scale, scope, depth, and competitiveness of the Indian textile and apparel sector is incomparable by any other country, exception of China. India now has the chance to work on its inherent strengths and become the top sourcing and investment place.

  2. The Company has an adequate internal control system commensurate with the size and complexity of the organization. The Company has undertaken a comprehensive review of all internal control systems to take care of the needs of the expanding size of the Company and also upgraded the IT support systems. A system of internal audit to meet the statutory requirement as well as to ensure proper implementation of management and accounting controls is in place. The Audit Committee periodically reviews the adequacy of the internal audit functions.

  4. There are no material developments in the Human Resources area. The industrial relations have been generally satisfactory. The Company constantly reviews the man power requirements and has a properly equipped Department to take care of the requirements. The total number of people employed by the Company as on 31.03.2023 was 317.

  5. DISCUSSION ON FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE The total Revenue for the year 2022-23 was Rs. 14995.12 lakh with a loss of Rs. 1569.09 lakh.

In the preparation of financial statements, no treatment different from that prescribed in Accounting Standard has been followed.

On behalf of the Board of Directors


Date : 15.05.2023 Managing Director

[DIN No. 00075375]


Statement in the Management discussion and Analysis Report describing the Companys objectives, projections, estimates, expectations may be forward looking statements within the meaning of applicable laws and regulations. Actual results may however differ from those expressed or implied. Important factors that could make a difference to the Companys operations include economic conditions affecting demand / supply and price conditions in the domestic and overseas markets in which the Company operates. Changes in government regulations, tax laws and other statutes and other incidental factors. The Company assumes not responsibility to publicly amend, modify or revise any forward looking statements on the basis of any subsequent developments information or events.