Axita Cotton Limited Recommends bonus issue in the ratio of 1:3; Company reports PAT of Rs. 3.54 crore in Q1FY25

Commenting on the company performance during the period, Mr. Nitinbhai Patel, Chairman and Managing Director, Axita Cotton Ltd said “We are happy to announce strong quarterly results despite challenging industry scenario and global sluggishness. The central government is making all possible efforts towards gaining access to the new markets. Indian Textile industry is one of the key industries of the country and the government through its policies and initiatives continues to give further push to the industry so that it become global competitive and increase its global share.”

For the year ended on 31 March, 2024, Axita Cotton Ltd had reported a net profit of Rs. 20.33 crore, profit before tax at Rs. 27.30 crore and total income of Rs. 1,104.38 crore.

Axita Cotton’s production facility is strategically located at Kadi in Mehsana district of Gujarat. This ideal location places the company in close proximity to the thriving cotton-growing regions of Saurashtra and other parts of Gujarat, enabling it to source the finest raw materials and ensure the utmost quality in its products.

The organic cotton industry is growing rapidly as consumers become more aware of the environmental and social impacts of conventional cotton production. In 2020, the global market for organic cotton was valued at $1.3 billion, and it is expected to grow to $2.5 billion by 2025.

India has emerged as the world’s fastest-growing major economy, and it is predicted to be one of the top economic powers in the next decade, owing to its robust democracy and strong partnerships. India is the largest producer of cotton globally. It is a crop that holds significant importance for the Indian economy and the livelihood of the Indian cotton farmers. The industry is sustaining livelihoods to millions of people in rural and semi urban areas by providing them employment directly and indirectly, including a large number of women and rural population. Cotton is one of the most important cash crops and accounts for around 25% of the total global fibre production. The close linkage of textiles industry to agriculture (for raw materials such as cotton) and the ancient culture and traditions of the country in terms of textiles makes it unique in comparison to other industries in the country.

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