India Ratings maintains stable outlook for cotton textiles sector
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July 11, 2015 COIMBATORE: India Ratings and Research has maintained an overall stable outlook for the cotton textile sector for 2015-16. Stable profit margins in the cotton yarn segment, range-bound cotton prices, favourable domestic and export demand for downstream fabrics and apparel would help the sector.
However, the outlook for cotton yarn exporters is negative due to a slowdown in demand for yarn particularly from China, leading to softer yarn realisations and lower capacity utilisation.
Cotton spinners' EBITDA (earnings before interest, taxes, depreciation and amortisation) margins, which were hurt by inventory valuation losses on a 20% decline in cotton prices in 2014-15, could recover in 2015-16 in the range of 10%-13%, India Ratings said.
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