VTM Signs Rs 50-Crore MoU with Tamil Nadu Government for Textile Expansion

New Delhi: VTM has signed a memorandum of understanding (MoU) with the Tamil Nadu Government, planning to invest Rs 50 crore over the next two years in the textile sector.

The investment will focus on cotton grey fabric and home textile manufacturing in Madurai and Virudhunagar districts, creating around 50 jobs—40 direct and 10 indirect.

VTM is a weaving company that specializes in fine-count fabrics with complex designs.

In Q2 FY26, VTM’s net profit fell 76.3% to Rs 2.32 crore, even though its revenue rose 22.8% to Rs 89.88 crore compared to Q2 FY25.

On the BSE, VTM shares dropped 1.10% to Rs 70.79.