Century Textile sales surge by 58% in FY22
The result showcases that the Consolidated PAT at Rs 84 crore has witnessed a share turnaround compared to last year.
Century Textiles Q4 FY22 Consolidated Sales increased by 45% YoY to Rs 1,188 crore. Its FY22 Sales surged by 58% over the previous year. The consolidated EBITDA of the company during the quarter jumped 65% YoY. FY22 EBITDA at Rs 487 crore, was up 71% over the previous year. Quarterly and full-year PAT witnessed a sharp turnaround compared to last year. Century’s pulp and paper business reported highest-ever quarterly sales. Also, Birla Estates’ flagship project Birla Niyaara clocked more than Rs 1200 crore of booking value.
Commenting on the Q4 FY22 results, JC Laddha Managing Director, Century Textiles and Industries Limited (CTIL) said – “Century Textiles and Industries has witnessed a very strong performance in all its operational and financial parameters, despite disruptions caused due to 3rd 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. With the launch of the flagship project Birla Niyaara at Worli, the real estate business is also poised for strong growth”.
The turnover of CTIL’s Textile Business unit in Q4 FY22 increased by 54% on a YoY basis. Its profitability saw a complete reversal from last year backed by strong growth in sales and improved operational efficiencies. Capacity utilisation in Q4 FY22 touched close to 97% as against 92% in Q4 FY21. Century Textiles has also launched home textile product for the domestic market under the brand name ‘Hill & Glade’.
With respect to outlook for Textile Business, the company said, “Coming year will be challenging with respect to pricing. We would be focusing more on offering new products after considering retail price points. Also, focus will be on blending with manmade fibres which can fit into the price bracket and at the same time is acceptable to the buyers. Further, geographic presence will be increased, and new markets will be explored such as Australia, Saudi Arabia and Russia.”