CRISIL: Decreasing Exports, Increased Costs To Affect Home Textile Companies' Profitability

According to financial research and rating agency CRISIL, the operating profitability of home textile manufacturers is expected to fall 150-200 basis points (or 1.5-2.0 percentage points) to 13% in fiscal year 2022-23, due to lower export demand and a sharp increase in raw material and transportation costs. Home textile refers to fabrics used for home furnishing. The agency stated in a study that the sector's credit outlook will stay steady.