Mittal Life Style Limited has announced a significant boost to its order books, securing contracts worth approximately ₹5 crore to supply denim fabrics to vendors of major Indian fashion players Arvind Lifestyle Brands and Myntra Designs. The Mumbai-based textile manufacturer will deliver 200,000 meters of denim, with the potential for higher volumes under existing terms throughout the contract’s duration.
This news has positively impacted Mittal Life Style’s stock, which saw a 4.94 per cent surge on the NSE, trading at ₹2.55, up ₹0.12, by mid-morning. The company credits the increased demand to the market’s favourable reception of its specialized denim offerings. These include uniquely over-dyed fabrics in non-traditional indigo hues, denim with distinctive horizontal slub effects that create eye-catching post-wash finishes, and textiles incorporating innovative dobby designs.
Mittal Life Style has confirmed substantial progress in fulfilling the orders, stating that the majority of execution is already complete. The company emphasized that these contracts are with domestic entities and are not related party transactions.
The agreements provide vendors with the flexibility to increase their order quantities under the same agreed-upon terms during the contract period. Furthermore, Mittal Life Style has clarified that its promoters and promoter group hold no interests in the companies awarding these contracts, ensuring transparency and arm’s-length dealings. This substantial order win underscores the growing demand for innovative denim fabrics in the Indian fashion market and positions Mittal Life Style as a key player in this evolving landscape.
