The stock price has increased by 161.48% in last one year, while the benchmark index S&P BSE Sensex has increased by 36.24%.
The stock rallied after the company reported a consolidated net profit of Rs 25 crore for the quarter ended June 2021 (Q1FY22), on the back of strong operational performance.
In Q1FY21, the company reported a consolidated net loss of Rs 36 crore.
Net sales increased by 111% year on year (YoY) during the quarter to Rs 832 crore, up from Rs 394 crore in the previous fiscal’s corresponding quarter. Ebitda increased 289 percent year on year to Rs 117 crore, compared to the same quarter in FY21.
The manufacturing businesses, in particular, have seen a strong turnaround as a result of the company’s ongoing commitment to product innovation, customer centricity, and improved financial management, according to the company.
Due to strong demand from the tissue and board segments, the pulp and paper business performed well in the quarter. The textiles industry experienced a significant turnaround, aided by strong demand in the bed linen segment. The real estate industry reported a significant increase in collections as well as consistent leasing income.
In terms of the future, management stated that the upcoming holiday season will usher in a new normal for the textile industry. Between August and December of this year, the business is expected to pick up steam in both domestic and export markets.
Given the current economic environment and the uncertainty surrounding the third wave, the Indian paper industry’s short to medium-term outlook appears volatile. “WPP will face some challenges until educational institutions, offices, and other facilities reopen. The packaging board segment is expected to remain in high demand in the future. Because of increased health and hygiene awareness, tissue consumption per capita is expected to rise “It stated.
In terms of the real estate sector, management stated that economic activity is expected to pick up in the coming quarters, owing to favourable monetary conditions, abundant liquidity, and optimism from the vaccine rollout. Changes brought about by the pandemic in terms of sales, digitisation, and a preference for branded developers, it said, would accelerate the sector’s growth.
Century Textiles and Industries Ltd grew from a single-unit textile entity in 1897 to a commercial powerhouse with interests in a variety of industries. The company’s main businesses are textiles, cement, pulp and paper, and real estate.
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