TWO HI-TECH WORLD CLASS GARMENT PLANTS BECOME OPERATIVE-T T GROUP
During the Financial Year 2018-19, T T Limited have completed two Hi-Tech World Class Garment manufacturing Projects at Avinashi (Tamil Nadu) and at Gajroula (Uttar Pradesh).
These plants have been installed after modifying existing Spinning Mills buildings. Both plants have been approved for social compliance (SEDEX and WRAP) and as such now able to attract World giant garment importers on the strength of required compliance conditions for placing orders. High Tech World Class plants have been installed and quality systems have been put in place. Both these plants are eligible for Tuff Subsidies and State Government incentives presently in force for apparel industry.
This would further reinforce Company’s focus on Garment Productions, Domestic Sales and Exports.
Company has also been exploring on test marketing basis in various other fields for diversification of Company’s business to attractive and more profitable lines such as Packaged Food, Agri products, Bulk transportation, Retail business, E-commerce and Dairy Products. Depending upon the results of test marketing, consultations and market feedback, Company will pick up new lines to expand its business turnover to develop Brand strength and value creation.
As per SEBI requirements, Board of Directors of the Company has been reconstituted. Shri Navratan Ji Dugar, Founder Independent Director has resigned as Independent Director of the Company as per SEBI requirement as his age had surpassed 75 years limit and he was not keeping good health lately. There is no other reason for his resignation.
Padma Shri V. R. Mehta Ji, has been re-appointed as Independent Director of the Company for a period of further 5 years subject to shareholder’s approval in the next Annual General Meeting including approval for waiver of age limit of 75 years.
Shri V. R. Mehta Ji has exceptionally illustrative Administrative experience of serving from time to time as an Independent Director of some of the major Indian Companies such as Tata Motors, Tata Hitachi Construction Equipment Company, Tata Motors Finance, Century Enka, SPIC, Tamil Nadu Newsprint and Paper Limited (TNPL), TVS Motors, Essar Power, Haldia Petrochemicals etc. He was also the founder Managing Director of Dredging Corp-oration of India. He was also deputed to Asian Development Bank, manila, Philippines.
To energize T T Limited, a young highly dynamic practicing Chartered Accountant, Shri Ankit Gulgulia has been inducted as an Independent Director. He is expected to contribute substantial inputs for chalking out Company’s strategy, economic policies and funding growth.
T T LTD POSTS 1152% INCREASE IN PROFITS FOR HALF YEAR ENDED 30.9.12
T T Ltd announced its Q2 results for 2012-13 in its Board meeting on October 29, 2012. After a very difficult 2011-12, the Company has managed to beat all economic adversities and post a jump of 1152% in net profits for H1, 2012-13 on a year to year basis. The turnover of H1 (Rs. 226.57 crores) was 13.26% higher, while EBITDA went up by 242.68%.
The Managing Director, Sanjay K Jain attributed this performance to its strategic move to shift focus from exports to the domestic market and increase sales of its value added branded garments segment. He said the Company has increased its advertisement by 45% and garment sales have gone up by 38.30%. He said the Company could have done better had there not been production constraints due to power and labour shortage. However production capacities have been augmented by the completion of its garment expansion project in Avinashi, Tamil Nadu and it hopes to maintain the same growth momentum in the 2nd half of the FY 2012-13.(/p>
He said the moderation in cotton prices and strong demand of yarn from China has also helped in posting better margins in the yarn segment. The high power cost impact has also been moderated by captive wind power and purchase of power through IEX.
He also informed that its Rs 100 crore expansion project in Gujarat is on schedule and is expected to be completed by March 2013. The recently announced Gujarat Textile Policy is a big positive for this project and would lead to a big saving in interest.
The Company plans to leverage the strong brand equity of its brand “ T T” and grow its garment segment with a combination of product and geographic diversification. It has also recently launched its online shopping site – ttgarments.com to take a share of this fast growing sales channel. It is also in the process of promoting its garments in the Middle East & African market. The new company slogan is “ Zindagi is good ” and it hopes the same for all its stakeholders.
TT Ltd announces 49.31% growth in net profits
TT Ltd, a vertically integrated textile company, has posted a turnover of 164.92 crores (growth of 17%) and net profit of Rs. 2.51 crores (growth of 49.31%) for year ending 31.3.2005. The fuel and power costs went up by over Rs. 1.50 crores in this year due to diesel prices going up, which resulted in profits being much lower than estimated. The Company is therefore installing power projects to bring down power costs on a war footing.
The Company announced major expansion plan of Rs. 120 crores over the next 2 years in order to take advantage of the oncoming opportunities in the global market for the Indian textile industry in the coming years. The Company is planning to install 43000 spindles over two locations and invest in captive power projects to bring down power costs apart from expanding its garment business in Indian market under its TT brand.
This expansion would be funded with a mix of internal accruals, equity and debt under the Textile Upgradation Scheme. It plans to raise about Rs. 20 crore equity from the markets in the near future. The promoters would pick up on a preferential basis 5% equity or warrants at a pricing determined as per regulations.
TT LTD CAPITALISES ON THE POST QUOTA TEXTILE BOOM – POSTS INCREASE OF 159% IN SALES AND 191 % IN NET PROFIT
TT Limited, a vertically integrated textile company has posted very impressive results for the quarter ended Dec 31, 2005. It has recorded a sales of Rs. 105.52 Crores and a net profit of Rs. 1.83 crores. This is a impressive increase of 159 % in sales and 191 % in net profit for the quarter ended 31.12.05. Further a rise of 79 % in sales and 100 % in net profit has been recorded for the 9 months ending 31.12.05 over corresponding period last year. The annualized EPS for the company stands at Rs 4.61 per share. The turnover for 9 months ended is Rs. 203.39 crores and net profit is Rs. 3.75 crores.
The Company has started an expansion project of Rs. 116 crores which has been appraised by IDBI and would be approaching the equity market shortly for the equity portion of the project. As part of the expansion project the company is setting up a new ginning factory with a daily capacity of 60 MT, adding 43000 spindles, setting up 2.5 MW wind power project and a captive power plant for its North India unit. The ginning project and wind power project would be commissioned by March 2006. 18000 spindles would be commissioned by Jane 2006 and the balance 25000 spindles within financial year 2006-07.
As per the Joint MD, Mr. Sanjay K Jain the company is gearing itself up in terms of capacity and quality to capture the oncoming opportunities in the textile field in India. The Company has established markets in over 20 countries in the world and has a strong domestic presence via its 40 year old brand “TT”.
T T Ltd post record 9 months profit – 281% growth
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 Rs. 149.08 crore whereas Net Profit surged by 172% to Rs. 6.22 crore on year-to-year basis. Consolidating this quarter, TT has recorded its highest ever 9 months profits (Rs. 15.05 crores). This represents a 281% increase in 9 months profits. The EPS for the first 9 months is Rs 7.00(Rs. 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.
The Company has also made a small and modest entry into retailing. It has opened 20 exclusive franchisee retail shops in NCR. These shops are modeled on the concept of friendly neighbourhood shop providing basic utility non fashion knitwear at a discount to MRP. A few more stores are in the pipeline and hope to be opened soon. The Company will take this model pan India once the systems are fully tried and tested.
T T Ltd launches 18 new products in Dealer Meet in Delhi from February 13-17,2011
T T Limited recently concluded its annual Dealers Meet in Delhi from February 13 -17 where over 500 dealers attended from the States of Rajasthan, Haryana, Punjab, J&K, Uttranchal, New Delhi, Uttar Pradesh, Maharashta, Madhya Pradesh and Chattisgarh. Also many organised retail chain representatives visited to see the complete product display.
The Company launched 18 new products, adding to its already strong 150 plus products for men, woman and kids in the inner and casual wear segment. The products were mainly in the casual range for men and kids inner wear where the Company is strongly emphasising keeping in mind the better value addition and pricing. The Company received very good response for its “COOL” range of casual wear, “FUNDOO” range of kids and Organic innerwear for men, apart from its regular range.
Mr Sanjay Kr. Jain, JMD stated that orders equal to about 25% of its current year sales have been received. The Company will have to strive hard to fulfil the orders as it isnt holding much inventory and there is a closure in Tirupur of dyeing units which has slowed down fabric processing. He was hopeful that a solution would come out soon, so as to meet the strong demand of summer season.
The Company presence in the entire chain “Fibre to Fashion” has benefitted the company immensely in this volatile and rising raw material scenario. This has helped it in containing costs and providing the consumers a good option in these high inflation times.
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. 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. The Company has also recently 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.
The Company has also made a small and modest entry into retailing. It has opened 20 exclusive franchisee retail shops in NCR. These shops are modeled on the concept of friendly neighbourhood shop providing basic utility non fashion knitwear at a discount to MRP. A few more stores are in the pipeline and hope to be opened soon. The Company will take this model pan India once the systems are fully tried and tested.