Home / Knowledge / News / Textiles / SEL on course to becoming million spindles textile group
SEL on course to becoming million spindles textile group
17
Aug '12
Mr VK Goyal
Mr VK Goyal
Within the next 24 months, Ludhiana based SEL Ltd is on its way to becoming a textiles group with a million spindles installed and will share a place among the top textile groups in India with the highest number of spindles.  

In its recently announced quarter ending June 30, 2012 results, SEL has reported a 21.56 percent year on year growth in revenues and a 124 percent surge in net profits, despite a bad economic climate.

Speaking exclusively to fibre2fashion Mr VK Goyal, Executive Director and Group CEO of SEL Manufacturing Company said, “We have added capacities in the last fiscal year and we also have tried to improve efficiencies.

“The towel division is also doing well. Alongside cotton yarn and towel price realizations too have improved which has helped us deliver a top line growth of 21.56 percent in the quarter from a year ago”.

He added, “Cotton volatility in the quarter ending June 2011, led to net profits taking a hit in that quarter. However since cotton prices are stable since the last few months, this is reflected in the surge in net profits by 124 percent in just completed quarter”. 

The SEL Group has grown at a tremendous pace and has undertaken capacity expansions at a frenzied pace from the time it set up its first spinning plant seven years back. The installed spindle base is on course to reaching the one million mark, reveals Mr Goyal.

Today, SEL is a vertically integrated textile group, with a presence across yarns, knitted fabrics, towels and readymade garments.

SEL is setting up a 400,000 spindles cotton yarn plant in Madhya Pradesh out of which 200,000 spindles are already in operation. 80 percent of the yarn from this location is exported to several countries around the world, Mr Goyal.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Shawn Honeycutt
Bolger & O'Hearn

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Ritu Kumar
Label Ritu Kumar

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Pranav Mishra
Huemn

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

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search