Sutlej Textiles plans to expand its Damanganga home textiles operations

YarnsandFibers News Bureau 2014-09-18 14:00:00 – Mumbai

Sutlej Textiles and Industries Ltd (STIL) at its board of directors meeting held on September 17, 2014 has taken up the decision to expand the operations of one of the Company's Units viz: Damanganga Home Textiles based at Daheli, Bhilad, Gujarat.

The project will be implemented in FY 2015-16 and the capacity will increase to 9.6 million metres per annum. The investment involved in the project expansion will be to the tune of Rs.88.50 crore.

While on the other hand, the Board has decided to close the operations of one of the Company's Units viz: Damanganga Fabrics, based at Daheli, Bhilad, Gujarat in view of its un-economic working. The Company is complying with the necessary requirements of law in relation to the closure of this Unit.

Sutlej Textiles and Industries Ltd (STIL), a leading manufacturer of value added synthetic, cotton mélange yarns, fabrics & home textiles, has announced its results for the quarter ended 30th June 2014.

Revenue of the Company expanded to Rs.492.06 crore during the quarter as against Rs.442.96 crore generated during corresponding period previous year, an increase of 11.1% on account of improved realizations and better product mix.

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