;
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

Anthesis Group takes over key assets of Made-By

Apparel/Garments | On 20th Jan 2019

Anthesis Group takes over key assets of Made-By

Anthesis Group, the global sustainability and solutions provider, has ...

ZDHC signatory brands share tools on screened chemistry

Apparel/Garments | On 20th Jan 2019

ZDHC signatory brands share tools on screened chemistry

ZDHC signatory brands - Levi Strauss & Co, Nike, H&M and C&A – are...

Courtesy: Global fashion agenda

Apparel/Garments | On 20th Jan 2019

ASOS, PVH become partners to Global Fashion Agenda

ASOS and PVH Corp are becoming part of the Global Fashion Agenda’s...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

GST has levelled the playing field to an extent

Top executives, Machinery Company

Top executives
Machinery Company

We will promote latest technologies at ITMA Barcelona

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Sugandha Bhardwaj,

Sugandha Bhardwaj

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

Farheen B Rahman & Priti Jain,

Farheen B Rahman & Priti Jain

Founded by business-designer duo <b>Priti Jain and Farheen Rahman</b>,...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Kai Poehler, Voith Paper GmbH & Co. KG

Kai Poehler
Voith Paper GmbH & Co. KG

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

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

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

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

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


January 2019

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

news category


Related Categories:

Advanced Search