Mr. Sanjay Jain, Managing Director of TT Limited has been nominated on the newly constituted Working Group for State Level Co-ordination & Monitoring Committee for Handloom & Textile Sector in West Bengal. The objective of this Group is to frame a new textile policy which will enable West Bengal to become a leading textile hub in the country. He is one of the two representatives from the private sector in the Group of 12 members.

Mr Sanjay is a MBA from IIM, Ahmedabad and has travelled to over 40 countries for business. He is well versed with the full textile chain and has knowledge of textile environment both across India and abroad.

He is a Vice President of Federation of Hosiery Manufacturers Association of India (FOHMA) and West Bengal Hosiery Association (WBHA). He is also an executive committee member of the following textile associations:

Confederaton of India Textile Industries (CITI)

North India Textile Mills Association (NITMA)

South India Mills Association (SIMA)

North India Textile Research Association (NITRA)

ICMF Cotton Development & Research

He has also represented FOHMA in the Cotton Yarn Advisory Board of Textile Ministry and the Sub-Committee on Textiles & Apparels for the 12th Five Year Plan.

He is a regular speaker in national and international textile conferences and contributes articles to various textile magazines on a continuous basis. He is also on an advisory Board of one international textile magazine.

In its Board meeting held on May 25th, 2011 in New Delhi, T T Ltd announced its highest ever annual profits for year end March 31, 2011. The net sales increased by 38% to Rs. 486.60 crores.  The Company profit before adjustment for deferred taxes increased from Rs 6.03 crores to Rs. 23.95 crores i.e. 297% creating history for the Company.  The Company also announced a final  dividend of 10% for the year 2010-11. The profit after adjustment for deferred tax is Rs.  15.23 crores. Cash profit has moved up from Rs 15.58 crores to Rs. 35.25 crores.

Mr Sanjay K Jain, the Managing Director of the Company attributed this success to the increased global demand of textiles after the 2008-9 debacle and the focus of the Company on value added products which carry higher margins. In the year ended exports increased by about 40% and domestic branded knitwear sales  increased by about 50%. The Company would have performed much better had Government negative policies not come into play. Last year the Government suspended yarn exports from Dec 1 to March 15, and imposed excise duty on garments in domestic market - these two moves severely impacted sales in the last quarter and the Company missed its target of Rs 500 crores plus.

As announced earlier, the Company has agreed to sell its ginning factory in Gondal, Gujarat for Rs 18.75 crores which would give the Company a profit of Rs. 5 crores in 2011-12. This move will reduce the Company's exposure to commodity business like cotton fibre. The proceeds shall be used for its ongoing Rs 150 crore expansion project. The project includes a Rs 30 crores garment unit in Tirupur, Rs. 95  crores yarn project in Rajula, Gujarat, Rs. 15 crores PP yarn project in Gajroula, UP and Rs 10 crores for modernisation.  All these projects shall be implemented under the TUF scheme of the Government and shall be eligible for interest subsidy. This would increase the competitiveness of the Company once TUF is withdrawn in March 2012.

The Company also plans to dispose other idle or lowly utilised assets which would contribute about Rs 40 crores and shall be used for the expansion in value added segment. The Company very clearly wants to reduce exposure to volatile commodity business and maintain a balance between the domestic and export markets. The % of exports has declined from 65% in 2009-10 to 57% in 2010-11.

In 2010-11 the Company doubled its advertisement budget and plans to increase the same by another 50% in the coming year to spruce up demand for its knitwear products being sold under "T T" brand. It is projecting another 50% plus growth in turnover this year for its branded products in the domestic market. The Company plans to open 20 new exclusive shops this year in NCR and North India region to consolidate its control over the distribution network. It is also promoting premium inner/casual wear for kids and ladies under the brand "Fundoo" and "Pretty Woman" in its core markets.

Also as this year there is no restriction on cotton yarn exports and the Govt has restored it to OGL, the Company expects a 20% growth in the export segment. New capacities will start getting operational from September onwards, just before the peak seasonal demand. The Govt is also expected to restore drawback on cotton yarn which was withdrawn last year, which would margins for spinning segment.

The Board also elevated Mr Sanjay Kumar Jain from Joint MD to Managing Director and Smt Jyoti Jain from Executive Director to Jt. Managing Director. Mr R.C.Jain, the current CMD will continue as Executive Chairman.

T T Limited declared its 3rd Quarter Results for FY2011, which is in continuation to the robust performance of  first two quarters. Revenue expanded by  59.42% to ` 149.08 crore whereas Net Profit surged by 172% to ` 6.22 crore on year-to-year basis. Consolidating this quarter, TT has recorded its highest ever 9 months profits (`  15.05 crores). This represents a 281% increase in 9 months profits. The EPS for the first 9 months is ` 7.00( ` 9.33 annualised).  

Mr Sanjay Kr. Jain, JMD attributed the performance to the strong recovery in the global textiles scenario, the large cotton crop in India and the Company's thrust on its value added knitwear segment. The Company presence in the entire chain "Fibre to Fashion" has benefitted the company immensely in this volatile and rising raw material scenario.

The large cotton crop of India as against crop failures in some major competiting nations like Pakistan, China and Australia has given Indian companies a huge competitive advantage in the global textiles field which is fuelling bottomline growth in the sector. He sees a very bright future for the Indian textile industry especially in cotton based textiles.

He further stated that the Company has tripled its advertisement budget as against last year and is planning to further step up advertisement through electronic, press and local media for its “TT” brand. It has introduced a range of new products in its knitwear segment. The local organised knitwear market is growing by 15%, which the Company has been able to better, due to effective leveraging of its brand equity and a double edged strategy of product and market diversification. The Company has diversified its product range to include casual wear and provide products for the entire family - men, ladies and children. It has further made distributors all across the country and tied up with all major organised retail chains. The Company has also made a soft launch of e-shopping for its knitwear range and will be looking for tie-ups with major online shopping sites. The Company is marketing its casual range under the sub brand - "COOL" and has launched a premium brand "Coco Tree" to cover the top end of the market pyramid. 

The Company commitment to a cleaner environment is strong. Its southern units are already running on renewable resources like wind power and bio mass. It plans to install wind power turbines in Gujarat to run its units there also on clean energy. The Company has also made a foray in value added organic products. It has got certification from Control Union, Europe and is exporting organic yarn in a big way. Further it has currently introduced range of organic innerwear - GREEN VESTS & BRIEFS for the first time in India. It now plans to extend this range to other styles.