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President Sutlej Textiles and Industries Limited
Which are the major markets for Sutlej for the product categories - yarns and home textiles? Where is the market growing?
Sutlej has a strong global clientele and exports to more than 60 countries. It has presence across major developed and emerging economies like Australia, Argentina, Bangladesh, Bahrain, Belgium, Brazil, Canada, China, Chile, Cuba, Egypt, France, Germany, Hong Kong, Italy, Morocco, New Zealand, Peru, Philippines, Poland, Portugal, Russia, Saudi Arabia, Sri Lanka, Turkey, United States of America, the United Arab Emirates (UAE) and The United Kingdom, among others.
Sutlej has also been recipient of numerous prestigious awards like Niryat Shree - Gold trophy award for its export performance in spun yarn; Gold trophy by SRTEPC for best performance for export of fabrics to focused Latin American countries and Silver trophy by SRTEPC for Second best export performance in spun yarn category.
Indian yarn is widely accepted in International markets as the exporters here regularly meet the needs of importers with unmatched efficiency and economy in countries like USA, Italy, Spain, Japan, China, South Korea, Taiwan, Bangladesh, Vietnam etc.
Please give details of your last two fiscals and your expectations for the coming two fiscals.
Continuing the upward trend, last two fiscals have also shown improved performance wherein the company's revenues increased and profit after tax strengthened. Given the diverse challenges that the sectoral and the company encountered, this profitable growth represents a validation of our strategic direction.
The management is committed for future growth of the company and evaluating various alternate projects focusing more on our core competencies and adjutancy for further growth.
Which three major aspects will influence the export of yarn and fabrics in times to come?
The Indian government has come up with a number of export promotion policies for the textiles sector. It has also allowed 100 per cent FDI in the Indian textiles sector under the automatic route.
Government has extended the export entitlement quota for readymade garments and knitwear, yarn and fabrics and made-ups to the US, Canada and EU for one year with effect from 1 January, 2017.
What are the future investment plans at Sutlej Textiles?
We are pleased to state that during the recent past, the company has grown tremendously both organically and inorganically, providing us with the incentive to substantially scale up its capacity across the foreseeable future.
As our investments translate into timely project commissioning across the foreseeable future, we expect to report higher revenues, superior margins and increased surpluses that graduate us into the next growth orbit.
The company will continue to upgrade existing facilities by additions to modernise existing machineries and install additional latest technology machines across the segments.
As stated earlier, the management is committed for future growth of the company and evaluating various alternate projects focusing more on our core competencies and adjutancy for further growth.
What are the issues plaguing this industry? What are your five-fold measures to resolve these issues?
Our capacity in spinning, looms and processing is mainly in unorganized sector in India. Absence of large scale garment units, poor infrastructure, high cost of finance and power in India are the major bottlenecks. Proactive steps from the government and industry will be needed to overcome these bottlenecks.
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