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Sutlej Textile’s turnover up 12 per cent in first nine months

For the first nine months turnover of Sutlej Textiles and Industries grew 12 per cent over the previous year. Sutlej is setting up a plant to manufacture polyester staple fiber by recycling pet bottles. The project costing Rs 110 crores is expected to be complete by the second quarter of 2020. Based in Jammu and Kashmir, the recycled PSF plant will have a capacity of 80 metric tons a day, the product range being raw white recycle fiber and black recycle fiber.

Sutlej has also invested in technology upgradation and debottlenecking. This will result in further improvement in efficiency and sustaining plant utilization. The company has already commenced commercial production of 35,280 spindles in Rajasthan. This will be a dedicated capacity focused toward producing value-added cotton and cotton-blended dyed and mélange yarn.

The company faced a challenging business environment in the third quarter due to subdued demand. Margins were under pressure on account of the increased cost of raw materials, appreciation of the rupee and reduction in export incentives. But the company is hopeful its diversified portfolio of value-added products will enable it to deliver better performance once demand normalizes.

Sutlej is one of India’s largest integrated textile manufacturing companies. It specialises in synthetic, natural and blended yarns, all types of spun yarns and home textile furnishing.