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Sutlej Textiles on Rs 270-crore expansion on schedule

Sutlej Textiles is working on a brownfield project to expand capacity of value-added products at Bhawani Mandi, Rajasthan. Work on the expansion project for adding 35,280 spindles at a project cost of Rs 270 crores is progressing satisfactorily.

Presently, a trial run is going on 33,840 spindles and the project is likely to commence commercial production in Q4 FY 2017 as per schedule. The company will also install 17 circular knitting machines by June 2017. The project, being funded by a mix of internal accruals and term loans sanctioned under TUFS, aims at producing value-added cotton and cotton-blended dyed and mélange yarn.

Sutlej has also been investing in expanding capacity for manufacturing home textiles. The expansion project to increase the installed annual capacity to 9.6 million is progressing as per schedule and is likely to be complete by Q4 FY 2017. Out of 54 looms to be installed, the company has installed 36 and has placed an order for 18 looms. The present installed annual capacity has reached 8.4 million metres.

The total project costs Rs 88.5 crores and is being funded by a mix of internal accruals and term loans sanctioned under TUFS. The increased presence in the home textile segment will result in further strengthening of the company’s end-to-end operations – Yarn to Home Textile.

Sutlej is one of India’s largest spun dyed yarn manufacturers. Over the years, Sutlej 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 currently stands at 377,688 spindles.