The order comprises of 3 foreign buyers and which will be shipped to the country over the next 3 months, said the company.

This order adds company's recent existing orders from Bangladesh worth $2.71 million (about Rs 22.21 crore) from various spinning mills of Bangladesh for Indian Raw Cotton.

The firm stated that the order was placed by a prominent textile company in Bangladesh, which is known for its commitment to quality and timely delivery. The decision to award the order to Axita Cotton was based on the company's reputation for producing high-quality raw cotton at competitive prices.

The sales contract will be executed by June 2023.

The company's current export order book as on 6 April 2023 stands at approximately $60,00,975.64 (around Rs 49.20 crore).

Kushal Nitinbhai Patel, the managing director of Axita Cotton, said, "This is a significant milestone for our company. It is a testament to the quality of our products and the trust that our customers have in us. And we are also expecting some more orders of Yarn from European and Far east market.”

Kadi-Mehsana (Gujarat)-based Axita Cotton manufactures and exports cotton bales and cotton seeds.

The company reported 12.96% fall in net profit to Rs 4.70 crore on a 22.52% decline in sales to Rs 130.45 crore in Q3 FY23 over Q3 FY22.

Shares of Axita Cotton rallied 3.06% to settle at Rs 63.07 on Thursday, 6 April 2023.