Home / Knowledge / News / Textiles / Indian textile firm SEL's turnover rises 35% in FY12
Indian textile firm SEL's turnover rises 35% in FY12
Jun '12
SEL Manufacturing Company Limited, the Ludhiana, Punjab-based textile firm, has clocked a remarkable 35.01 percent rise in its turnover during last fiscal.

SEL's sales increased from 2010-11's Rs. 17.264 billion to Rs. 23.308 billion during last fiscal.

The growth registered by the company, which is into manufacturing of yarns, knitted fabrics and readymade garments, is remarkable considering the fact that the industry is witnessing a phase of turbulence.

The company's net profit, however, plummeted from previous year's Rs. 1.125 billion to Rs. 828 million during last fiscal.

Executive Director and CEO of the firm, VK Goyal attributed the growth in turnover to efforts of all employees, while he held high cost of production and increased depreciation as factors that led to a decline in its net profit.

Commenting on the bad phase that the industry is passing through, Mr. Goyal said the last fiscal was marked by high volatility in cotton prices. He added that even though the commodity prices dropped towards close of last season, they still remain considerably high as compared to previous years.

In spite of being surrounded by several problems, the company successfully established India's largest spinning unit at a single site at Mehatwara village in Sehore, Madhya Pradesh, in April, 2011. Moreover, it has also begun setting up of a high-tech integrated textile part at Panjava village in Muktsar, Punjab.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th Oct 2016

Arvind to dilute 10% stake in brand business arm

Arvind Limited, one of India’s largest integrated textile and apparel ...

Courtesy: Commonwealth Bank of Australia

Textiles | On 25th Oct 2016

World’s first cotton shipment using Skuchain’s Brackets

The world’s first trade transaction involving shipment of cotton...

Textiles | On 25th Oct 2016

Cotton yield to increase to 568.29 kg/ha in 2016-17: CAB

At its first meeting for the cotton season 2016-17, the Cotton...

Interviews View All

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search