- Total Income at Rs 1,679 Crs, up 21%
- EBITDA at Rs 232 Crs, up 27%
- EBITDA margin at 13.80%
- PAT at Rs. 77 Crs, up 24%
Sutlej Textiles and Industries Limited (BSE: 532782 / NSE: SUTLEJTEX), a leading manufacturer and exporter of value added dyed yarns (synthetic & cotton mélange) with presence in Home Textiles, today reported its financial results for the quarter ended 30th September, 2022.
Commenting on the results, Mr. C. S. Nopany, Executive Chairman, Sutlej Textiles and Industries Limited said:
“The global economic turmoil coupled with inflationary pressures has resulted in a challenging operating environment for most sectors, including the textiles. We are now witnessing key commodity prices declining from their extraordinary highs, resulting in a slowing down of demand in almost all geographies. As prices continue on a downward trajectory finding a new equilibrium, demand and offtake remained subdued in Q2. At Sutlej, while the quarterly performance has been under some pressure, we have been quite resilient and have operated at optimum capacity due to our diversified portfolio, multi-market operations, strong relationships with our customers and we remain cognizant of the overall market dynamics going forward.”
Awards and Recognition
The Company received following prestigious awards:
▪ The Cotton Textiles Export Promotion Council (TEXPROCIL)
▪ Gold Trophy – Special Achievement Award in Export of Cotton Yarn 2020-21.
▪ The Rajasthan Renewable Energy Corporation Limited (RRECL)
▪ Rajasthan Energy Conservation Award – 2021, First Prize.
▪ The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC)
▪ Fourth Best Overall Export performance Special Award 2019-20 and 2020-21 ▪ Best Export Performance 2019-20 and 2020-21
▪ Rajasthan State Government: –
▪ Life Time Achievement Export Ratan Award. First time given by State Government for 2019-20 in 2022.
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.
About Sutlej Textiles and Industries Limited CIN: L17124RJ2005PLC020927
Sutlej Textiles and Industries Limited (STIL), 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 421,008 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.
