Nov '16
“The second quarter continued to witness challenges due to global slowdown and stressed rural economy, chairman CS Nopany said. “Sutlej was able to offset these strong headwinds by its prudent raw material purchasing policy in a volatile cotton fibre market, by maintaining sufficient cotton inventory at lower prices.”
Sutlej Textiles is also optimistic of the future with normal monsoon, implementation of the seventh pay commission, one rank one pension scheme and other Government initiatives.
The company also said that work on the expansion project for adding 35,280 spindles at Bhawanimandi, Rajasthan at a project cost of Rs 270 crore is progressing satisfactorily. (AR)
Fibre2Fashion News Desk – India
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