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Tuesday, 26 April 2022

India’s Century Textiles and Industries Limited witnesses 54% textile turnover surge

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Century Textiles and Industries Limited (CTIL) announced its Q4 and annual results today!

Notably, the net sales of the company touched Rs. 1,187 crore in Q4, while the same was Rs. 810 crore in Q4 FY21.

For FY22, the sale was Rs. 4,067 crore, compared to Rs. 2,564 crore in FY21.

JC Laddha, MD of the company, said “We have witnessed a very strong performance in all its operational and financial parameters, despite disruptions caused due to the third wave of COVID-19. Both the pulp & paper and the textiles business achieved peak capacity utilisation. We are witnessing strong uptick in demand across these segments.”

The company is also into real estate, pulp & paper business, but as far as textiles business is concerned, its turnover in Q4 FY22 has increased by 54 per cent on a Y-o-Y basis. The profitability saw a complete reversal from last year, backed by strong growth in sales and improved operational efficiencies.

In this segment, capacity utilisation in Q4 FY22 touched close to 97 per cent as against 92 per cent in Q4 FY21.

The company had also launched the home-textile product for the domestic market under the brand name ‘Hill & Glade’.

In 2022-23, the company would be focusing more on offering new products after considering retail price points. Also, the focus will be on blending with manmade fibres, which can fit into the price bracket and at the same time be acceptable to the buyers.

CTIL also aims to enhance its geographic presence, moving forward, with continual focus on exploring new markets such as Australia, Saudi Arabia and Russia.

Source : https://in.apparelresources.com/

    
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