SEL posts exceptional growth in revenues & profits

20 May '11

1 min read

Ludhiana-based textile major; SEL Manufacturing Company Ltd reported a stupendous jump in revenues and net profits in the fiscal year 2010-11, ending March 31, 2011.

Net profits climbed to Rs 1.12 billion, up an outstanding 56 percent.

Revenues also surged exceptionally well by 78 percent to touch Rs 17.26 billion, against Rs 9.67 billion in the previous fiscal year.

SEL is a vertically integrated textile company, with facilities to manufacture yarns, knitted fabrics, terry towels and clothing.

SEL recently put in to operations a 400,000 spindle spinning unit in Madhya Pradesh at an investment of Rs 19.20 billion.

It also proposes to set up another spinning plant in Punjab with 210,000 spindles at a capital outlay of Rs 9.0 billion.

Among other projects in the pipeline, it also plans to increase terry towel capacity to 100 tons per day from the current 45 tons per day.

It is also in the process of hiking its current knitted garment production capacity of 20 million to over 50 million per year.

Fibre2fashion News Desk - India

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