R&B Denims has the largest vertically integrated textile manufacturing facilities of over 30 million meters capacity of denim. 
R&B Denims has the largest vertically integrated textile manufacturing facilities of over 30 million meters capacity of denim. Multibagger company R&B Denims has announced its plans to enter readymade garments in the denim segment with its own brand name. The denim fabric manufacturer informed about its plans on Thursday via a regulatory filing.
R&B Denims is capable of producing high width denim up to 85 inches with its recent major expansion in the new technology of Air jet Looms – Dobby Machines, the exchange filing said. After adoption of this new technology of dobby machines, the company will soon enter into forward integration- garmenting segment, creating its own brand name.
Shares of R&B Denims staged a swift recovery from day's low at Rs 36.35 and jumped 7 per cent to Rs 38.90. It was trading at Rs 37.3 at 12.30 pm. The BSE-listed counter had settled at Rs 36.85 on Wednesday.
R&B Denims' shares have delivered a mutlibagger returns in the last two years as the stock rose to Rs 38.90 from Rs 7.1 in January 2021. However, the stock has plunged about 20 per cent in the last one year and is trading about 60 per cent below its 52-week high of Rs 92.95 hit in March 2022.
The Gujarat based R&B Denims has the largest vertically integrated textile manufacturing facilities of over 30 million meters capacity of denim. Currently, the company is in fabric weaving, dyeing & processing along with the backward integration of cotton spinning.
Earlier, the company had announced its expansion in renewable energy business including, wind and solar energy and has been able to generate considerable amount of electricity from renewable sources.
R&B Denims is yet to announce its earnings for December 2022 quarter. For the quarter ended on September 30, 2022, it clocked revenue at Rs 147.12 crore with a profit after tax (PAT) at Rs 12.41 crore and EBITDA at 23.37 crore.
Also read: What Rs 20,000 cr Adani Enterprises FPO says about stock market outlook? Basant Maheshwari decodes
Copyright©2023 Living Media India Limited. For reprint rights: Syndications Today
