### **Overview** Shiva Texyarn Limited is a leading, vertically integrated Indian textile manufacturer with a strong legacy in cotton spinning and a strategic shift toward high-margin technical textiles. Founded in 1989 and headquartered in Tamil Nadu, the company operates across multiple divisions — Spinning, Technical Textiles (Coating & Lamination), Processing, Garments, and Bags — supported by captive renewable energy infrastructure. With over 35 years of industry experience, Shiva Texyarn has evolved into a multifaceted player known for innovation, sustainability, and reliable defense sector partnerships. --- ### **Core Business Segments** #### **1. Spinning Division** - **Capacity**: 52,416 spindles near Coimbatore. - **Products**: Combed, carded, compact, sub, and fancy cotton yarns, primarily serving the hosiery segment with a shift toward finer counts. - **Raw Material Sourcing**: Domestic cotton from select Indian ginners and international sources (West Africa, Australia, USA). - **Strategic Position**: Foundation business providing steady revenue; leveraged for integration into higher-value downstream operations. - **Revenue Contribution**: Rs. 410.9 crore in FY2023. #### **2. Technical Textiles Division** A cornerstone of the company’s growth strategy, this segment includes: - **Lamination Division**: - One of India’s largest lamination capacities (~600,000 meters/month across two lines using **reactive polyurethane lamination**, a technology first introduced in India by Shiva Texyarn in 2005). - Market leader in **dry sheets** under the **QuickDry** brand — credited as the category inventor in India. - Products: Quick Dry (dry sheets), Quick Fit (mattress protectors), Q-Club (baby products), Smiley (reusable masks), and specialty laminates for medical, defense, and industrial use. - Launched India’s first **reusable fabric diaper** with proprietary **Rapisoak Technology** under the **Paw-Paw** brand (2019). - Monthly output: Over **100,000 metric tons**; millions annually. - Exports to Middle East and Southeast Asia. - **Coating Division**: - Three lines with a combined capacity of **1 million meters/month**. - Key products: Canvas rolls, stretched canvas, and biodegradable **non-flex banner materials** (eco-friendly PVC alternatives). - Benefits from state-level bans on non-biodegradable flex (e.g., Kerala, Bengaluru) – estimated domestic replacement market: ₹1,600–2,400 crore. - Current revenue in flex-replacement segment: ₹22–25 crore, with capacity to scale to ₹80–90 crore. - SITRA-certified producer of PPE fabrics and protective coveralls. #### **3. Processing & Specialty Fabrics (Perundurai)** - Located in SIPCOT, Perundurai. - Produces nylon and polyester knits, **pile fabrics**, **microfiber fabrics**, acrylic fabrics, and **seamless garments**. - Supplies high-end, premium customers in domestic and export markets. - Recently launched **seamless saree shapewear**, targeting high-growth innerwear segment. #### **4. Garments & Bags Division** - **Defense & Tactical Gear**: - OEM supplier to Indian Armed Forces and DRDO since 2017. - Key products: **OBRNe/NBC suits**, cold-weather clothing systems, **70L rucksacks**, Haversacks, carrying gear. - A **sole vendor for certain DRDO items** (e.g., Haversack), and one of only three approved vendors for 70L rucksacks. - Margins: ~33% for NBC products, 25–30% for general army supplies. - **Contract Manufacturing**: - Backpacks and rucksacks for global brands. - Secured multiple MoD orders: ₹27.28 crore (CBRN Haversacks, 2021), ₹13.62 crore (Rucksacks, 2021), and a ₹11.9 crore bag order in 2022. --- ### **Sustainability & Energy Infrastructure** - **Captive Wind Power**: - Owns **55–58 windmills** across Tamil Nadu with a total generation capacity of **13.195–18.15 MW**. - Powers all manufacturing operations, resulting in one of the **lowest power costs** in the spinning industry. - Supports ESG goals and reduces carbon footprint. - **Strategic Energy Partnership**: - Acquired a **26% stake in LK Distributors Pvt Ltd** (a wind energy company) in 2022 with plans to increase ownership to 40%. - Secured access to 5 million units of wind power under favorable terms. --- ### **Innovation & R&D** - **Anti-Viral Fabric**: Launched in **June 2020** in collaboration with **HeiQ Materials AG (Switzerland)**; certified under **ISO 18184**, inhibits viruses including SARS-CoV-2. - Used in **PPE systems, masks (SMILEY brand)**, and medical textiles; serves both domestic and international markets. - **Proprietary Technologies**: - Rapisoak Technology (diapers), Reactive Polyurethane Lamination, High-Insulation Batting for winter wear. - **R&D Focus Areas**: Biodegradable materials, antimicrobial textiles, seamless apparel, athleisure fabrics. --- ### **Market Presence & Distribution** - **Retail Reach**: - **Over 10,000 retailers** across India via **200+ distributors** and a sales force of **90+ personnel**. - Brands: QuickDry, Quick Fit, Q-Club, Smiley, Paw-Paw. - **Online & Digital Expansion**: - Niche digital marketing strategy with emphasis on e-commerce and targeted outreach (ad spend: ₹50–60 lakhs/year). - Strengthening last-mile logistics with a **Delhi hub** for pan-India distribution. - **QuickDry Growth Target**: Become India’s **largest baby products brand** by expanding to **30,000+ retailers** and **400+ distributors**. - Revenue from QuickDry in FY2021: ~₹38 crore. --- ### **Financial & Operational Highlights** - **EBITDA Margins**: - Lamination: 16–18% - Coating: ~12% - Defense garments: 25–33% - **Low Leverage & Strong Cash Flow**: - Funded expansion through internal accruals. - Efficient working capital management. - **CAGRs**: Technical textiles expected to grow at **15–30% CAGR**. --- ### **Milestones & Recognition** | Year | Key Event | |------|---------| | 1989 | Founded with first spinning mill in Dindigul | | 1994 | First windmill installed for captive power | | 2006 | Lamination Division launched | | 2009 | Expansions: Knitting, Garments, Spinning Mill II | | 2012–13 | Processing (Perundurai), Technical Textiles & Coating (Ganeshpuram) | | 2014 | Bag Division established | | 2017 | Demerger from Shiva Mills; began supplying defense sector | | 2019 | Launched **Paw-Paw reusable diaper** | | 2020 | Launch of **anti-viral fabric**; fulfilled ₹10 crore PPE order | | 2021–22 | Secured ₹50+ crores in MoD bag orders; acquired stake in LK Distributors | | 2022 | Launched **seamless saree shapewear** |