Moneycontrol
May 26, 2016 10:21 AM IST | Source: CNBC-TV18

Company to see a growth of 10-15% in FY17: Suryalakshmi Cotton

The higher growth in Q4 was due to focus on value-added fashionable products and addition of fashionable products in the denim segment, said Paritosh Agarwal, managing director of Suryalakshmi Cotton Mills.

Suryalakshmi Cotton Mills reported a 31 percent increase in operating income to Rs 222.17 crore in the fourth quarter of FY16.

The higher growth in the fourth quarter was due to a focus on value-added fashionable products and addition of fashionable products in the denim segment, said Paritosh Agarwal, managing director of the company.

He expects the revenue to grow by 10-15 percent in FY17 and a little more in FY18 owing to the ongoing capacity addition.

Agarwal believes that roping in Italian designers gave a boost to the denim segment which saw a growth of 14 percent.

Exports contributed 30-35 percent of revenues in FY16, which is a major growth area.

It won export orders worth Rs 180 crore in FY16 and Rs 140 crore so far in FY17.

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