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Sutlej upgrades home textiles

Sutlej is one of the largest integrated textile manufacturing companies and is strongly positioned in the production of value added synthetic, natural and blended yarns, spun yarns, processing of fabrics and home textiles. Sutlej has a strong global clientele and exports to more than 60 countries. It exports to: Australia, Argentina, Bangladesh, Bahrain, Belgium, Brazil, Canada, China, Chile, Cuba, Egypt and France. For fiscal 2016 and the half year ended September 30, 2016, total export revenue as a percentage of total revenue was about 26 per cent. The home textile segments contribution of exports to total revenues is more than 35 per cent.

The company will continue to upgrade existing facilities by adding, modernising existing machinery and installing additional latest technology machines across segments. After witnessing sluggish growth during 2008, the home textile segment has shown signs of recovery and registered considerable growth in the last few years. The home textile segment is growing at a CAGR of 3.5 per cent. The US and EU are gradually coming out of the recessionary phase. Apparel and home textile consumption is picking up. Going forward India's share is expected to rise from seven to ten per cent.