Despite facing challenges in export markets, leading Indian textile manufacturer, RSWM posted positive revenue growth in Q3 and 9M FY24. 

The company’s revenues grew by 14.3 per cent Y-o-Y to Rs 977 crore in Q3FY24 and Rs 2,886 crore. in 9M FY24. Gross profit also increased by 10.8 per cent Y-o-Y to Rs 346 crore in Q3FY24 and Rs 1,045 crore in 9M FY24. However, the company's profitability was impacted by weaker EBITDA margins, reflecting the challenging market environment. The company’s EBITDA margins remained at 2.3 per cent in for Q3FY24 while it reached 2.7 per cent in 9M FY24.

RSWM also faced challenges like a demand slowdown in key export markets like the US and UK due to economic slowdowns and pricing pressures. However, Riju Jhunjhunwala, Chairman & Managing Director and CEO, believes, the company will continue to generate positive results in FY25 as it will benefit from the diversification from China and new orders in Western markets.

RSWM's proposed acquisition of Ginni Filaments’ Spinning, Knitting and Processing units will enable the company to reach new customers globally and strengthen its position in the spinning and knitted fabric sector. The expansion marks a significant step towards the company’s sustainable growth and market leadership.

RSWM also plans to continue enhancing yarn quality, growing knits and denim fabric business, and increasing exports. The company is confident that its strategic initiatives, including the Ginni Filaments acquisition, will position it for long-term success in the textile industry.