Sutlej Textiles and Industries Ltd. (STIL), a leading manufacturer and exporter of value added dyed yarns (synthetic & cotton mélange) with presence in Home Textiles, reported its financial results for the quarter ended 30th June, 2022. Total Income for the quarter was by 44% at Rs 853 crs. EBITDA was Rs 138 crs, up 81% and PAT was Rs. 45 crs, up by 123%.
Mr. C. S. Nopany, Executive Chairman, Sutlej Textiles and Industries Ltd., said: “The key challenge faced by the Textile Industry has been the rising raw material prices and consequently prices of all textile products. While this is likely to create pressure on demand for the short term, we see the situation easing out with the arrival of the new cotton crop on the back of a favorable monsoon. The approaching festive season and other positives like the China Plus Factor, Government initiatives to boost the industry, we expect the overall opportunity to remain intact. At Sutlej, despite the current dynamics, we reported a good quarter, although we are mindful of the challenging business environment and shall continue to consistently deliver on the back of our resilient business operations.”
Awards and Recognition
The company received following prestigious awards:
- The Cotton Textiles Export Promotion Council (TEXPROCIL)
o Gold Trophy – Special Achievement Award in Export of Cotton Yarn 2020-21. - The Rajasthan Renewable Energy Corporation Ltd. (RRECL)
o Rajasthan Energy Conservation Award – 2021, First Prize. - The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC)
o Fourth Best Overall Export performance Special Award 2019-20 and 2020-21
o Best Export Performance 2019-20 and 2020-21
Credit rating
▪ The Long-Term Credit Rating of the company is ‘A+’ by India Ratings, Outlook: ‘Stable’ signifying adequate degree of safety regarding timely servicing of financial obligations and carry low credit risk and Short-Term Bank Facilities (Fund and Non-Fund based) and Commercial Paper rating is ‘A1+’ by India Ratings signifying very strong degree of safety regarding timely payment of financial obligations. Such facilities carry lowest credit risk.
Sutlej Textiles and Industries Ltd., an ISO 9001:2015 certified company, is one of India’s largest spun dyed yarn manufacturer, part of the K K Birla Group. Under the leadership of Mr. C. S. Nopany, Executive Chairman of STIL, a Chartered Accountant and Master of Science in Industrial Administration from Carnegie Mellon University, the company has focused on value added yarns and home textiles. Over the years, the company has also successfully carved out a niche for itself and is holding leadership position in the dyed yarn and cotton mélange yarn segment. The total spinning capacity of the company presently stands at 420,240 spindles.
STIL has a strong global clientele and exports to more than 65 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, Saudi Arabia, Sri Lanka, Turkey, United States of America, the United Arab Emirates (UAE), and The United Kingdom, etc.