Home / Knowledge / News / Textiles / Sutlej Textiles' Q1 FY18 EBITDA expands to Rs 76.28 cr
Sutlej Textiles' Q1 FY18 EBITDA expands to Rs 76.28 cr
21
Jul '17
Pic courtesy: Sutlej Textiles & Industries Ltd
Pic courtesy: Sutlej Textiles & Industries Ltd
Sutlej Textiles and Industries Ltd (STIL), one of India’s largest spun dyed yarn manufacturers, has reported its financial results for the quarter ended June 30, 2017. The company’s total income in the first quarter of fiscal 2017-18 stood at Rs 658.73 crore, while its EBITDA expanded to Rs 76.28 crore. PAT was at Rs 23.58 crore, and EPS was Rs 14.39.

April-June 2017 was the first quarter of commercial operations at the company’s brownfield project at Bhawanimandi in Rajasthan. STIL commenced commercial production of 35,280 spindles at the facility set up at a cost of Rs 270 crore. 17 circular knitting machines are under installation at the facility and are expected to get complete in the second quarter of the current fiscal. This project, being funded by mix of internal accruals and term loans sanctioned under TUFS, will have dedicated capacity focused towards producing value added cotton and cotton blended dyed and mélange yarn.

STIL is also undertaking brownfield capacity expansion of 28,800 spindles at its specialty synthetic yarn facility in Baddi, Himachal Pradesh. Estimated project cost is Rs 215 crore and the project is likely to start commercial production from end of Q4 FY19. The incremental capacity would be dedicated towards manufacturing of 100% polyester industrial yarn and other grey blended specialty synthetic yarn.

In its modernisation update, STIL said it has invested around Rs 10 crore during Q1 FY18 towards technology upgradation and debottlenecking, etc. This will result in further improvement of efficiency and sustaining plant utilisation. The company intends to deploy further amount of approximately Rs 70 crore during the current fiscal year towards technology upgradation and debottlenecking, etc.

“I am happy that Sutlej Textiles and Industries has been able to achieve top line growth as new capacities have started commercial production, both in spinning and home textiles. We expect that the operations will stabilise during Q2 FY18 and the value added products will be the profit driver in the future,” said CS Nopany, STIL chairman. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

EU renews GSP+ scheme for Pakistan 2 years

Apparel/Garments | On 24th Feb 2018

EU renews GSP+ scheme for Pakistan 2 years

Pakistani exporters can enjoy preferential duties on exports to the...

Surat wary of e-way bills

Textiles | On 24th Feb 2018

Surat wary of e-way bills

There is no respite for Surat’s textile manufacturers and retailers....

Retailers choose sides in Alibaba-Tencent battle in China

Apparel/Garments | On 24th Feb 2018

Retailers choose sides in Alibaba-Tencent battle in China

Two big Chinese firms— Alibaba Group Holding Ltd and Tencent Holdings ...

Interviews View All

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Rahuul Jashnani
Jashn

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

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Giorgio Mantovani
Corman S.p.A

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

February 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search