Vardhman Textiles Limited — Investor Meet, 12-05-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Vardhman Textiles reports an improved industry outlook for Q4 FY26. US tariff removal and strong Chinese demand boosted yarn exports, with spreads increasing 40-50% from lows. Indian cotton prices are now aligned with global rates. While Q4 margins saw a one-time ~INR57-58 Cr forex mark-to-market loss, Q1 FY27 is expected to be much stronger. The spinning sector has consolidated, with 11-12 million spindles permanently stopped. Management is optimistic about demand growth, driven by FTAs, with India uniquely well-positioned. Modernization capex is 90% complete, and new capacity projects are being planned.