Sutlej Textiles Has Announced Its Results for The Quarter and Year Ended 31st March 2014

Sutlej Textiles and Industries Ltd (STIL), a leading manufacturer of value added synthetic, cotton and blended yarns, fabrics & home furnishing has announced its results for the quarter and year ended 31st March 2014.

The Company recorded its highest ever net profit of Rs.131 crore during the year as against Rs.77 crore reported during previous year, registering a growth of 70% driven by improved operational efficiency and lower interest outgo.  

The revenue of the Company expanded to Rs.1,881 crore during the year as against Rs. 1,680 crore generated during previous year, an increase of 12% on account of improved realisations and higher off take of value added products. The EBITDA for the period stood at Rs. 306 crore as against Rs. 234 crore registered during previous year, an increase of 31% driven by improved spindle efficiency and cost optimisation.

Commenting on the results, Mr. C.S. Nopany, Chairman, Sutlej Textiles and Industries Ltd said,“During the just concluded financial year we witnessed an overall improvement in Sutlej’s operations. Profitability was buoyed mainly as a result of optimal spindle utilization, thrust on value added products and prudent cost management. In addition, our in-house R&D spins out innovative qualities and strategies for optimization of product cost, resulting in improved operational performance of the business. 

"Going forward, the commissioning of the new 30,672 spindles for Cotton Mélange Value Added Yarns will add significant value to the Company. While the business environment is expected to be moderate in the near-term, we are optimistic that the Company with its improving fundamentals will be able to deliver sustained performance in the coming years.”