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Sutlej Textiles to raise funds up to Rs 500 crore

Sutlej Textiles and Industries (STIL) has received approval to raise funds up to Rs 500 crores by way of borrowing for long term working capital requirements and growth plan. The board of directors at its meeting held on May 18, 2017 had approved for the same.

STIL, an ISO 9001:2008 certified company is one of the largest integrated textile manufacturing companies and is having strong position in the Indian Textile sector in the manufacturing of value added synthetic, natural and blended yarns, all types of spun yarns, processing of fabrics and home textile furnishing.

Sutlej Textiles and Industries' net profit fell 34.6 per cent to Rs 33.27 crore on 8.9 per cent increase in net sales to Rs 597.67 crore in Q4 March 2017 over Q4 March 2016. Sutlej Textiles and Industries is currently trading at Rs 886.1, up by Rs 4.75 or 0.54per cent from its previous closing of Rs 881.35 on the BSE. Sutlej Textiles and Industries is an integrated textile manufacturing company.