Century Textiles & Industries rose 1.23 percent to Rs 890 after the company reported a consolidated net profit (from continuing operations) of Rs 84.43 cr in Q4 FY22 as against a net loss of Rs 4.89 cr in Q4 FY21.
Net sales surged 44.62 percent to Rs 1,186.22 cr in Q4 FY22 over Rs 820.21 cr in Q4 FY21. Consolidated EBITDA grew 66.25 percent to Rs 133 cr in Q4 FY22 as against Rs 80 cr in Q4 FY21. On a segmental revenue basis, Century Textiles & Industries’ Paper and Pulp business’ turnover jumped 46 percent YoY basis in Q4 FY22 while capacity utilisation stood at 97 percent during the quarter, 5 percent higher than the capacity utilization in same quarter last year. The sales realization surged 32 percent in Q4 FY22 as compared to same quarter of FY21. Century Textiles & Industries, in a bid to achieve plantation targets, collaborated & distributed 1.6 mn seeds & saplings to farmers as against a target of 1 mn.
Furthermore, the company stated in its outlook for the said segment that turnover in the textiles segment soared 54 percent on a YoY basis in Q4 FY22, a reversal from last year, backed by strong sales growth and improved operational efficiencies. Capacity utilisation in Q4 FY22 was 97 percent, up from 92 percent in Q4 FY21. The company also launched home-textile products for the domestic market under the brand name “Hill & Glade”.
The company’s outlook in the textiles segment said the coming year will be challenging with respect to pricing. We will 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 be acceptable to the buyers. Furthermore, geographic presence will be increased, and new markets will be explored, such as Australia, Saudi Arabia, and Russia.
Commenting on the Q4 FY22 results, J C Laddha, the Managing Director (MD) of Century Textiles and Industries (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.
Century Textiles & Industries has presence in cotton textiles, pulp & paper and real estate sectors.
