Domestic denim players will continue to be under pressure. In fact, the denim fabric industry will continue to face margin pressures during FY2019 due to oversupply situation. As per India Ratings and Research (Ind-Ra), around 15-20 per cent of the total capacity has remained underutilised. Moreover, competition will further intensify as several players have undertaken capacity additions to add another 100-150 mn mtr by the end of the current fiscal year. India is one of the leading denim fabric manufacturers in the world, with a total manufacturing capacity of about 1,500 mn mtr per annum.