India's Home Textile Exporters Sew A Success Story On Pandemic-Induced Lifestyle Changes: ICRA
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ICRA Research Report
Home textile exports was one of the first few textile segments to recover from the impact of the pandemic last fiscal, with companies reverting to YoY growth from Q2 FY21 itself and reporting three consecutive quarters of double-digit growth thereafter.
For the past three quarters, sales for our sample set (comprising four large, listed players, accounting for ~35-40% share in India’s home textile exports) have averaged ~25-40% higher than the three-year average for the pre-Covid-19 period.
Following the healthy growth in recent quarters, we expect the sample to report ~20-25% YoY growth in Q2 FY22.
Despite economies opening up, pandemic-induced lifestyle changes stemming from heightened hygiene and increased stay-at-home, are expected to support demand/ growth in the upcoming quarters.
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