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Sutlej Textiles to focus more on home textile segment and exports

YarnsandFibers News Bureau 2016-08-05 17:00:00 – Mumbai

Sutlej Textiles and Industries Ltd (STIL), one of the largest integrated textile manufacturing companies and having strong position in the Indian Textile sector in the manufacturing of value added synthetic, Natural and Blended yarns, all types of spun yarns, processing of fabrics and Home Textile Furnishing reported a good set of first quarter earnings where net profit increased 42.9 percent to Rs 45.1 crore year-on-year (YoY) and revenue grew 19.5 percent to Rs 553.6 crore (YoY).

Dilip Ghorawat, Wholetime Director and CFO of Sutlej Textiles said that the company is focusing more on exports and home textile segment and has seen exports increase by 30 percent sequentially. He further expects a good monsoon and the Seventh Pay Commission to boost demand.

The company into manufacture of value added dyed yarns and a leading player in the country of dyed yarns is also focusing into products of fancy yarns and value added products, the company is adding new geographies in the world and focus on exports, company is also focusing on home textiles where they are planning an expansion. This all will culminate into more growth for the company going forward.

The performance of the yarn division has done better because they are into value added dyed yarns and Mélange yarns. They feel that the performance should further improve in view of good monsoons, in view of the 7th Pay Commission -- there was a drought two years back, this year they have excellent monsoons. As the government has given good initiatives for the textile sector, they feel that things should further improve from here.

Presently their EBITDA margins is about 15.40 percent and also they have started the expansion trial run of their Mélange at Bhawanimandi, Kota, out of 35,000 spindles they have started 9,000 spindles on trial runs. They feel that margin should further improve going ahead.

STIL has invested in deepening longstanding relationships with marquee customers like Page Industries, Siyaram’s, Donear, Shivalik Prints, Digjam, Raymonds Grasim, etc. in India, customers across the globe and the development of multiple products across multiple grades.

Increased presence in Home Textile segment will result in further strengthening of Company’s end to end operations – Yarn to Home Textile

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