Home / Knowledge / News / Textiles / Sutlej Textiles income up 9% to Rs 2287 crore in FY17
Sutlej Textiles income up 9% to Rs 2287 crore in FY17
19
May '17
Sutlej Textiles and Industries Limited, a leading manufacturer and exporter of value added dyed yarns with presence in home textiles, has reported total income of Rs 2,287 crore in FY17, up 9 per cent from FY16's income of Rs 2107.76 crore. Its EBIDTA for the fiscal increased 6 per cent to Rs 319 crore and the net profit grew 10 per cent to Rs 158 crore.

As for the fourth quarter of FY17, Sutlej earned Rs 612.03 crore, recording a 9.03 per cent increase from Rs 561.32 crore in Q4 FY16.

The board of directors of the company has recommended dividend of Rs 13 per equity share for the year ended March 2017. It also considered and approved the sub-division of each of the equity shares of the company presently having a face value of Rs 10, into 10 equity shares having a face value of Re 1 each.

The board has also given its approval for raising Rs 500 by borrowing for long term working capital requirements and the company's growth plan.

"The challenging domestic business environment continued post demonetisation well into Q4 of FY2017. The industry did start witnessing a slow revival of demand along with increase in raw material prices towards the end of Q4. Strong foreign currency inflows and the consequential strengthening of INR has put a dampener on exports creating more uncertainty. It is expected that margins would continue to be under pressure during H1 of 2018," said CS Nopany, executive chairman, Sutlej Textiles and Industries Ltd. (KD)

Fibre2Fashion News Desk – India


Must ReadView All

Kenya to use Sh6 bn Indian loan to upgrade Rivatex

Textiles | On 19th Jul 2018

Kenya to use Sh6 bn Indian loan to upgrade Rivatex

Kenya will use a Sh6 billion loan from India’s Exim Bank to expand...

Vietnam's textile-garment export turnover $16 bn in H1 '18

Apparel/Garments | On 19th Jul 2018

Vietnam's textile-garment export turnover $16 bn in H1 '18

Vietnam is among the world's five biggest textile exporters and...

Courtesy: Adidas Originals

Fashion | On 19th Jul 2018

Adidas Originals launches silhouette, P.O.D. System

Adidas Originals has launched its newest silhouette, P.O.D. System,...

Interviews View All

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kerem Durdag
Biovation II LLC

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

Kevin Nelson
TissueGen

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

Leave your Comments


July 2018

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

news category


Related Categories:

Advanced Search