Century Textiles & Industries hits record high after sales jump 67% yoy in Q2

EBITDA was up by 102% in Q2 as compared to the same quarter last year.

Oct 14, 2021 01:10 IST India Infoline News Service

Century Textiles & Industries Ltd has released its financial results for the quater ended September 30, 2021.

Key Highlights:
  • Sales witnessed a considerable jump at 67% yoy to Rs998cr in Q2.
  • EBITDA was up by 102% yoy to Rs133cr in Q2 as compared to the same quarter last year.
  • PAT is noteworthy at Rs32cr in Q2 FY22, a significant reversal from Q2 FY21.
  • Strong performance by the businesses with higher operating efficiencies and turnaround in the market sentiments.
Commenting on the Q2 FY22 results, JC Laddha Managing Director, Century Textiles and Industries Limited (CTIL} said, "Century Textiles and Industries Limited continued its journey of resilient performance despite the disruptions caused by the pandemic. Manufacturing businesses posted excellent results due to healthier business environment, robust productivity at our manufacturing plants and financial prudence.

Pulp & Paper business saw the best ever quarter in terms of production and sales volumes mainly supported by higher volumes from value added products and new products. The Textiles business saw a strong revival supported by robust domestic demand on account of upcoming festive season. The Real Estate business received a strong response to its Kalyan Phase 2 launch.

PULP & PAPER BUSINESS
  • Highest throughput achieved with the business reaching at 101% capacity utilization in Q2 FY22.
  • Sales saw a growth of 64% in Q2 FY22 as compared to same quarter last year
  • Marked improvement in the demand for writing & printing paper segment in lieu of opening of offices, judiciary etc. Strong order flows continued for board & tissue segments .
REAL ESTATE BUSINESS
  • Robust collections at all projects on the back of strong customer connect and outreach.
  • Launched 2nd Phase of Birla Vanya, Kalyan, received strong response from customers.
  • The two commercial assets, Birla Aurora and Birla Centurion continue to generate stable rentals. The primary focus is to ensure a safe environment for all the stakeholders at the properties.
TEXTILES BUSINESS
  • Business bounced back with Plant operating at 91% capacity utilization compared to 68% YoY
  • Sales grew by 109% in Q2 FY22 as compared to Q2 FY21
  • Domestic demand has picked up after subdued demand due to pandemic. Expecting major order flows in view of upcoming festive season.
At around 1:45 PM, Century Textiles & Industries was trading at Rs977.65 per piece up by Rs42.1 or 4.5%, after hitting 52-week high at Rs1003.25 per piece on the BSE.

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