iifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

SVP Global Textiles gains over 1% after update on business operations

31 Mar 2022 , 09:58 AM

SVP Global Textiles Ltd has announced an update of the business operations amidst the current geopolitical situation.

Plant Operations: – India & Oman -– The manufacturing operations at Jhalawar (Rajasthan) and Sohar Free Trade Zone (Oman) are running at optimum capacity.
Rising Cotton (Raw Material) Prices: – There is huge surge in cotton prices (major raw material) due to current geopolitical situation and fall in the domestic production of cotton. This season, cotton price has zoomed from Rs63,000 per candy to the highs of Rs94,000 per candy. Yarn prices have not been able to match the pace of cotton price jump which could result in the margin pressures across all spinners. However, the situation is improving now and yarn prices too are catching up.
Order Book Position: – Order book position of the company is robust and as on date stands at Rs3000 crore approximately which is equivalent to 23 months of sales. Company has recently been accredited by ISO-9001, Global Organic Textile Standard (GOTS) and Organic Content Standard (OCS), BCI, OEK-TEX, STD 100, Fair Trade, SUPIMA Gold and approved supplier to Zara and Ikea.

Commenting on the company performance, Maj Gen (Dr) OP Gulia, SM, VSM (retd) CEO said, “The current geopolitical situation and subsequent impact on the cotton and other input prices along with delay in the logistics and exports had an adverse impact on textile industry as a whole and there could be short term pressure on the margins.

SVP Global, however, is better equipped with manufacturing and technology edge with Artificial Intelligence and IOT capabilities.

In spite of challenging business environment, the Company feels comfortable in carrying out the business operations.”

At around 9:22 AM, SVP Global Textiles was trading at Rs40.25 apiece up by Rs0.75 or 1.9% on the BSE.

Related Tags

  • business expansion
  • business update
  • geopolitical tension
  • market
  • news
  • operations
  • SVP Global Textiles
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Most Read News

Indian Indices Continue Winning Streak
13 Jun 2024|03:46 PM
L&T Finance stock price near 52-week high
13 Jun 2024|03:00 PM
Indian markets trade in green
13 Jun 2024|03:29 PM
Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.