Sutlej Textiles and Industries Ltd Share Price

History of Sutlej Textiles and Industries Ltd

Sutlej Textiles & Industries Limited was incorporated on 22 June, 2005 and was created out of a corporate restructuring exercise in which the Textiles Division of Sutlej Industries Ltd. (SIL) and DamanGanga Processors Ltd. were demerged to form a single cohesive company effective from July 1,2005. The Company is one of the flagship unit of the multi-product conglomerate K K Birla Group. The Group has its dominant presence in Fertilizer, Engineering, Textiles, Sugar, Tea, Coffee, Food, Products, media , information Technology , Biotechnology and Shipping. The Company's spinning units - Rajasthan Textile Mills (RTM) in Bhawanimandi, Rajasthan and Chenab Textile Mills (CTM) in Kathua, Jammu and Kashmir - manufacture a range of dyed spun yarns that address the demanding needs of fabric make ...rs and are also consumed within the Company to manufacture fabrics and home furnishings. Over the years, Sutlej emerged among a handful of Indian companies with the competence to weave specialty yarns (lycra, coolmax, modal and tencel yarns, among others). In 2006-07, the Company entered the home textiles segment through Damanganga Home Textiles. In 2008, it expanded Bhawanimandi Unit by adding 7,488 spindles to manufacture PV dyed yarn. It added 12,672 spindles at Bhawanimandi Unit for manufacturing cotton yarn. In 2010-11, it started commercial production from May 1, 2009, with expanded capacity of 31,104 spindles at Chenab Textile Mills, Jammu & Kashmir to manufacture cotton melange and cotton blended dyed yarn. Besides, a 12 MW Thermal Power Plant was installed at Bhawanimandi Unit. In 2014, the Company's state-of-the-art Mélange Yarn Development Centre facilitated new product development; the Company also established a Synthetic Yarn Development Centre during the year. It started commercial production of its 31,104 new spindles installed in November 2014 at Chenab Textile Mills, Kathua, Jammu & Kashmir, at a project cost of Rs 151 Crore to manufacture value-added cotton mélange and cotton-blended dyed yarn; it further expanded operations in the Home Textiles Division at the Damanganga Home Textiles. In 2015, the Company acquired Birla Textile Mills, a unit of Chambal Fertilisers and Chemicals Limited, as a going concern on a slump sale basis; it commenced work on brownfield expansion project to manufacture value-added yarn at Rajasthan with 35,280 spindles. The expansion project of Home Textiles Plant at Bhilad started during the year 2014-15. In 2017, the Company set up a 2.2 MW Rooftop Solar Power Plant at Bhawanimandi unit; introduced latest machinery at Unit 7 in Bhawanimandi and commissioned 2,064 spindles manufacturing synthetic yarns; thereafter, it installed 18 Circular Knitting Machines in the Bhawanimandi Plant. The Company started Green Fiber Plant in March, 2021.