Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

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Thematic (Sector/Industry)

<ul>
<li>The India-UK FTA, signed on May 6, 2025, provides Indian textile exports with zero-duty access to 99% of their products, removing tariffs as high as 12%.</li>
<li>This landmark deal offers a substantial opportunity to increase India’s market share in the $19.7 billion UK apparel market and boosts competitiveness against Bangladesh and China.</li>
<li>With enhanced pricing power, Indian textile companies like <a href="https://www.smartkarma.com/entities/kpr-mill-ltd" target="_blank" data-smartkarma-citation="entities:8970:1" rel="noopener">KPR Mill (KPR IN)</a>, <a href="https://www.smartkarma.com/entities/welspun-india-ltd" target="_blank" data-smartkarma-citation="entities:9284:1" rel="noopener">Welspun India (WLSI IN)</a>, and <a href="https://www.smartkarma.com/entities/s-p-apparels-limited" target="_blank" data-smartkarma-citation="entities:44174:1" rel="noopener">S.P. Apparels (SPAL IN)</a> are well-positioned to scale, increasing their export share.</li>
</ul>


The India-UK FTA, signed on May 6, 2025, provides Indian textile exports with zero-duty access to 99% of their products, removing tariffs as high as 12%.
This landmark deal offers a substantial opportunity to increase India’s market share in the $19.7 billion UK apparel market and boosts competitiveness against Bangladesh and China.
With enhanced pricing power, Indian textile companies like KPR Mill (KPR IN), Welspun India (WLSI IN), and S.P. Apparels (SPAL IN) are well-positioned to scale, increasing their export share.


Thematic Report- India-UK FTA: A Stitch in Time for the Indian Textile Sector?

Partner at Exencial Research, Exencial Research

Viral Kishorchandra Shah

Partner at Exencial Research

Exencial Research

<ul>
<li>India-UK FTA removes a 12% import tariff, giving Indian textile exporters a strong price advantage in the UK market.</li>
<li>Cotton-Rich Indian apparel aligns with UK demand; exports of women’s cotton trousers to the UK rose 30% in 2023.</li>
<li>The FTA is set to boost India’s annual apparel exports to the UK from $4 billion to nearly $6 billion by 2025.</li>
</ul>


India-UK FTA removes a 12% import tariff, giving Indian textile exporters a strong price advantage in the UK market.
Cotton-Rich Indian apparel aligns with UK demand; exports of women’s cotton trousers to the UK rose 30% in 2023.
The FTA is set to boost India’s annual apparel exports to the UK from $4 billion to nearly $6 billion by 2025.


India-UK Free Trade Agreement: A New Era for India's Textile Industry

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kitex-garments-ltd" target="_blank" data-smartkarma-citation="entities:10108:1" rel="noopener">Kitex Garments (KTG IN)</a> is the world's second-largest manufacturer of ready-to-wear clothing for infants and children.</li>
<li>KGL is expanding its manufacturing capabilities by establishing two new integrated units in Warangal and Sitarampur, Telangana which will increase capacity to 10.68L pieces per day.</li>
<li>Kitex Garments is also planning to merge with Kitex Childrenswear Limited, which sell processed fabrics, rental agreements for factory premises, and special job work contracts for KGL.</li>
</ul>



Kitex Garments (KTG IN) is the world's second-largest manufacturer of ready-to-wear clothing for infants and children.
KGL is expanding its manufacturing capabilities by establishing two new integrated units in Warangal and Sitarampur, Telangana which will increase capacity to 10.68L pieces per day.
Kitex Garments is also planning to merge with Kitex Childrenswear Limited, which sell processed fabrics, rental agreements for factory premises, and special job work contracts for KGL.


The Beat Ideas: Kitex Garments- A Global Inflant Wear Play

<ul>
<li>The Indian textile industry is poised for robust growth due to  confluence of factors, including the "China+1" strategy, instability in competing markets like Bangladesh and Vietnam, and supportive government initiatives.</li>
<li>This has led to India gaining market share in key export destinations, particularly in apparel exports to the US and the UK.</li>
<li>Furthermore, Indian textile companies anticipate improved demand and margins, driven by factors like the end of the global inventory destocking cycle and the stabilization of cotton and yarn prices.</li>
</ul>


The Indian textile industry is poised for robust growth due to  confluence of factors, including the "China+1" strategy, instability in competing markets like Bangladesh and Vietnam, and supportive government initiatives.
This has led to India gaining market share in key export destinations, particularly in apparel exports to the US and the UK.
Furthermore, Indian textile companies anticipate improved demand and margins, driven by factors like the end of the global inventory destocking cycle and the stabilization of cotton and yarn prices.


Indian Textile Sector: Is It the End of Global Inventory Destocking?

<ul>
<li>Tiruppur’s knitwear exports rebounded with 13% growth in FY25 (April-August), signaling recovery after an 11% decline in FY24.</li>
<li>Factories started operating at 95% capacity utilization vs 60-70% earlier.</li>
<li>Bangladesh crisis and upcoming UK FTA giving huge business to indian textile exporter.   </li>
</ul>


Tiruppur’s knitwear exports rebounded with 13% growth in FY25 (April-August), signaling recovery after an 11% decline in FY24.
Factories started operating at 95% capacity utilization vs 60-70% earlier.
Bangladesh crisis and upcoming UK FTA giving huge business to indian textile exporter.   


The Resurgence of Indian Textile Exports: Tiruppur Leads the Way

India

Gokaldas Exports Limited designs, manufactures, and sells a range of garments for men, women, and children.  The Company caters to the needs of several international fashion brands and retailers.

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Gokaldas Exports (GEXP IN)

Thematic Report- India-UK FTA: A Stitch in Time for the Indian Textile Sector?

The India-UK FTA boosts Indian textile exports with zero-duty access, increasing market share and competitiveness against Bangladesh and China.

Nimish Maheshwari

India-UK Free Trade Agreement: A New Era for India's Textile Industry

India-UK FTA eliminates import tariff, boosting Indian textile exports to UK and increasing annual apparel exports to nearly $6 billion by 2025.

Viral Kishorchandra Shah

The Beat Ideas: Kitex Garments- A Global Inflant Wear Play

Kitex Garments is expanding manufacturing capabilities and planning to merge with Kitex Childrenswear Limited to increase capacity and streamline...

Sudarshan Bhandari

Indian Textile Sector: Is It the End of Global Inventory Destocking?

Indian textile industry set for strong growth with China+1 strategy, instability in competing markets, and government support leading to market...

Sudarshan Bhandari

The Resurgence of Indian Textile Exports: Tiruppur Leads the Way

Tiruppur's knitwear exports bounce back with 13% growth in FY25, driven by increased capacity utilization and opportunities from Bangladesh crisis...

Nimish Maheshwari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Thematic Report- India-UK FTA: A Stitch in Time for the Indian Textile Sector?

​The India-UK FTA boosts Indian textile exports with zero-duty access, increasing market share and competitiveness against Bangladesh and China.

Nimish Maheshwari

India-UK Free Trade Agreement: A New Era for India's Textile Industry

​India-UK FTA eliminates import tariff, boosting Indian textile exports to UK and increasing annual apparel exports to nearly $6 billion by 2025.

Viral Kishorchandra Shah

The Beat Ideas: Kitex Garments- A Global Inflant Wear Play

​Kitex Garments is expanding manufacturing capabilities and planning to merge with Kitex Childrenswear Limited to increase capacity and streamline...

Sudarshan Bhandari

Indian Textile Sector: Is It the End of Global Inventory Destocking?

​Indian textile industry set for strong growth with China+1 strategy, instability in competing markets, and government support leading to market...

Sudarshan Bhandari

The Resurgence of Indian Textile Exports: Tiruppur Leads the Way

​Tiruppur's knitwear exports bounce back with 13% growth in FY25, driven by increased capacity utilization and opportunities from Bangladesh crisis...

Nimish Maheshwari

The India-UK FTA boosts Indian textile exports with zero-duty access, increasing market share and competitiveness against Bangladesh and China.

India-UK FTA eliminates import tariff, boosting Indian textile exports to UK and increasing annual apparel exports to nearly $6 billion by 2025.

Kitex Garments is expanding manufacturing capabilities and planning to merge with Kitex Childrenswear Limited to increase capacity and streamline...

Indian textile industry set for strong growth with China+1 strategy, instability in competing markets, and government support leading to market...

Tiruppur's knitwear exports bounce back with 13% growth in FY25, driven by increased capacity utilization and opportunities from Bangladesh crisis...