SEL records 117.65 percent increase in turnover

Ludhiana, August 14, 2013: SEL Manufacturing Company Limited, a Ludhiana based integrated textile conglomerate, has registered a turnover of Rs. 1381.58 crore during the quarter ended 30th June, 2013 as against Rs. 634.76 crore in the corresponding quarter last year, thereby registering a growth of 117.65%. Earnings before depreciation, finance cost and tax increased from Rs.118.93 crore during the first quarter of financial year 2012-13 to Rs. 241.27 crore during the quarter ended 30th June, 2013, showing an increase of 102.87%. Profit after Tax (PAT) recorded an increase of 213.98%, from Rs. 16.81 crore during the quarter ended 30th June, 2012 to Rs. 52.78 crore during the quarter ended 30th June, 2013. The group is one of the fastest growing integrated textile conglomerate having presence in yarns, knitted fabrics, terry towel, ready-made garments and captive power generation. SEL Manufacturing Company Limited has been ranked 14th as per Total Income in the textile sector in Dun & Bradstreet’s India’s Top 500 Companies 2012.

SEL Textiles Limited, a wholly owned subsidiary of SEL Manufacturing Company Limited, recently commissioned the state-of-the-art Greenfield Mega Integrated Textile Park at Village Panjava, District Muktsar, Punjab in April, 2013. In the first phase, SEL commissioned the yarn spinning section, which is being set-up with a capacity of nearly 2 lac spindles. This unit will have forward integration in denims.

SEL has already proved its capabilities in implementation of new projects. The better performance of the Company is attributable not only to better textile market conditions but also to the increased production levels on account of various expansion projects undertaken by the Company in the preceding years, including one of the largest spinning units at Village Mehatwara in Madhya Pradesh and the doubling of the capacities of the spinning units located at Hansi in Hissar and Neemrana in Rajasthan. SEL is confident that the true value of expansion shall be captured in the years to come, thereby fulfilling the expectations of its stakeholders.

 

Date: 
Wednesday, August 14, 2013