About
Century Textiles & Industries Ltd
Century Textiles and Industries Limited is principally engaged in manufacturing of Textiles, Pulp and Paper and Real estate. The Company is a multi-location, multi-product organization with diversified interest from textile to real estate to pulp & paper. It is a paper producer offering writing and printing grades, copier, specialty grades, tissue and packaging boards. Its ready-to-wear garments are marketed under Cottons by brand 'Century'. The Company's New Textile Mill, Birla Century, in Gujarat manufactures textile fabrics.
In the real estate business, the Company operates under the brand 'Birla Estates'. It has land parcels in prime locations in Worli, 30 acres, Kalyan, 132 acres and Pune, 45 acres, where the Company is rolling out its development plans for premium and mid income housing and commercial use. In addition to owned land, Birla Estates has already signed a MoU to develop 1 million sq. ft. of residential project in Gurgaon.
Century Textiles and Industries Limited was incorporated in the year 1897 as a Public Limited Company at Mumbai. In the year, the Company began their Rayon Division at Kalyan, near Mumbai to manufacture Viscose Filament Rayon Yarn. In the year 1960, they signed a technical collaboration and know-how agreement with Alemene, Kunstzigde Unie N.V. of Holland and Verinigts Glazstoff-Fabriken AG of Germany to set up a super two-tyre yarn and a cord plant with capacity of 6 1/4 tonnes per day. In the year 1961, the Company obtained a licence for a rayon grade caustic soda plant of the capacity of 30 tonnes.
In the year 1963, the company commenced production of Viscose Tyre Yarn / Industrial Yarn. In the year 1964, they commenced the production of Caustic Soda and other chemicals. In the 1969, they acquired a salt manufacturing unit at Jamnagar to ensure continuous supplies of good quality salt to the caustic soda plant. In the year 1974, the company diversified into production of Cement by establishing their first cement plant at Baikunth, near Raipur (Chhattisgarh) to produce 0.60 million Tonnes Per Annum (TPA) of Portland Cement. In the year 1980, the company established their second Portland Cement plant at Maihar in Madhya Pradesh with a capacity of 0.80 million TPA.
In the year 1984, the Company established Rayon and/or paper Grade Pulp and Writing & Printing Paper Unit with an installed capacity of 20,000 tonnes each per annum at Lalkua near Nainital (Uttaranchal). In the year 1985, the Company established their third Portland Cement plant at Gadchandur in Maharashtra with a capacity of 1 million TPA. In the year 1987, the Company entered into new markets such as Taiwan, South Korea, Hongkong and Japan.
In the year 1990, the chemical division of the Company obtained permission from the Govt. to introduce the membrane cell technology in the caustic soda plant. In November 1991, the Company was selected by the MP Govt. for establishing, maintaining and operating a 2 x 210 MW thermal power station at Pench in the Chhindwara Dist.. The Company established a separate unit 'Century Power' to undertake the project.
In the year 1995, the Company established their second paper unit based on Bagasse adjacent to the existing Pulp and Paper Plant at Lalkua with a capacity of 84,600 tonnes of paper per annum. During the period of 1995-96, Company commenced commercial production in their fourth Portland Cement Plant with a capacity of 1 million TPA adjacent to the existing plant at Maihar. In the year 1997, they commenced generation in Thermal captive power plant.
In the year 2002, the Company bunged its operations at Bagasse paper plant at Nainital and as new dimension, made treaded into branded apparels by leveraging on its brand 'Century'. The company had ranged into value-added readymade garments in the year 2003 and also posted in accessories under the brand name of 'Cottons by Century'. In March 2005, the installation of 6 MW Power Plant using LSHS/Furnace oil was completed and the plant commenced commercial production.
In cement segment, the new captive thermal power plants of 15 MW at Maihar Cement Unit and 10 MW at Century Cement Unit were commissioned in March 2006 and April 2006 respectively. In October 2006, the company's project on blended cement was registered under the Clean Development Mechanism with the executive body of the United Nations Framework Convention of Climate Change (UNFCCC). In February 2007, the company commissioned the expanded Paper unit for manufacturing Paper from waste paper with a capacity of 211 tonnes per day.
During the year 2007-08, the company completed the modification and upgradation work at all cement units was completed and the cement manufacturing capacity was increased to 7.80 million tonnes per annum with effect from March 1, 2008. The company set up a new clinker line of the capacity of 2.50 million tonnes and an equivalent cement grinding facility, adjacent to the existing plant of Manikgarh Cement at Gadchandur, Maharashtra, along with a captive Thermal Power Plant of 40 MW.
During the year 2008-09, the company commissioned the prime grade tissue paper plant at Lalkua, Dist. Nainital, Uttarakhand with a capacity of 100 tonnes per day for manufacture of a number of varieties of tissue paper.
On 4 October 2014, Century Textiles and Industries (CTIL) announced that the company's Manikgarh Cement Unit No. II (expansion unit) with a capacity of 2.80 million tonnes per annum has commenced production of cement and started cement dispatches from 26 September 2014.
On 1 February 2016, Century Textiles and Industries (CTIL) announced that at a meeting of the Board of Directors of company held on 1 February 2016, it has been decided that activities related to real estate development presently being carried under different divisions of the company should be consolidated and undertaken under a new division viz. Birla Estates' for development of surplus land available with the company located at its various divisions and also to undertake business activities such as Builders, Promoters/Developers for land & buildings etc. including purchase of land anywhere in India.
The Board of Directors of Century Textiles and Industries (CTIL) at its meeting held on 22 August 2017 approved the sale of Century Yarn and Century Denim units of the textiles segment situated at Satrati in Madhya Pradesh on a slump sale basis as a going concern for a lump sum consideration of Rs 2.51 crore. CTIL said that the operations of the Yarn and Denim units were not viable due to their small sizes and hence it was considered appropriate to sell these units.
On 1 February 2018, Century Textiles and Industries (CTIL) announced that with effect from 1 February 2018 CTIL has granted Right to Manage and Operate the Viscose Filament Yarn (VFY) business of the company to Grasim Industries Limited (GIL). Consequently, the company shall be deemed to have suspended operations of VFY business during a period of 15 years with effect from 1 February 2018. Earlier, the Board of Directors of CTIL at its meeting held on 12 December 2017 approved entering into agreement with Grasim for granting Right to Manage and Operate the Viscose Filament Yarn (VFY) business of the company to Grasim for a duration of 15 years for a commuted royalty of Rs 600 crore. Grasim shall also provide CTIL Rs 200 crore as in interest-free, refundable, security deposit and pay to CTIL consideration for the transfer of working capital to Grasim at actual. Post completion of the tenure of the agreement, CTIL shall resume operations of the VFY business.
The Board of Directors of Century Textiles and Industries (CTIL) at its meeting held on 20 May 2018 approved the draft scheme for the demerger of the cement business of the company into UltraTech Cement Limited. The Board has approved the swap ratio, as recommended by the independent valuers, of l (one) new equity share of UltraTech for every 8(eight) equity shares held in CTIL. CTIL said that the demerger aims at deleveraging CTIL's balance sheet and creating an opportunity for its next phase of growth in the remaining businesses with a primary focus on Real Estate. It also achieves unlocking of the value of the cement division to its shareholders through the issuance of equity shares of UltraTech directly to the shareholders of CTIL. UltraTech is the largest and one of the most valuable cement players in India and the shareholders of CTIL will continue to have exposure to cement through their highly liquid equity shareholding in UltraTech.
During the year 2017-18, the Company has incorporated a Wholly Owned Subsidiary namely Birla Estates Private Ltd for the purpose of undertaking Real Estate Development Projects. In view of no business left to undertake, the Board of Bander Coal Company Private Ltd., Company's associate, has commenced the process of voluntary liquidation of the said associate and has already appointed a liquidator under the applicable provisions of law.As of 31 March 2018, Industry House Ltd., in which Company holds about 35% shares, is an Associate Company.
During the FY2019,the Company has undertaken a project to expand the Prime Grade Tissue Paper Plant capacity from 100 tonnes per day to 200 tonnes per day with an Anchor GSM of 19 grams at a total capital outlay of Rs 100 crore at the existing Pulp and Paper Plant at Lalkua, District Nainital, Uttarakhand. The project is expected to be commissioned and operational in the 2nd quarter of FY 21.
During the year 2018-19, the Company has incorporated a Wholly Owned Subsidiary namely Birla Century Exports Private Ltd for the purpose of conducting distribution business in the USA directly with brands and retailers.
During the FY2020,the company done Technical upgradation, removing of bottlenecks and balancing the Bagasse based (PM3 Machine), and recycle paper-based paper plant (PM4 Machine), with an investment of Rs 65 Crore which will increase monthly paper manufacturing capacity from 7200 Mt to 8500 Mt for each plant. This expansion will help in reducing overall manufacturing cost (of these two machines), quality improvement and increase in production. Also Installation of new evaporator at a cost of Rs 105 Crore.This will help lowering down Power cost and increase in pulp production.
During the year 2019-20, the month of March saw the world being impacted by the COVID-19 pandemic and the nation going into a lockdown. The lockdown disrupted the normal business activities and created pressure on absorption and collections.
During the FY2021,the total exports of the Company amounted to Rs 345.85 Crore as against Rs 598.72 Crore in the year 2020 representing about 12.91% of the total income.
During the year 2020-21,the new Tissue Plant to manufacture Prime Grade Tissue Paper with a capacity of 100 tonnes per day was installed and trial run of the plant has been started on 14 March 2021. Due to Covid-19, no erection and commissioning activities have been undertaken during 2020-21 for upgradation of paper machines 3 & 4 and for installation of a new evaporator.
During the quarter ended 30 September 2021, pursuant to a Joint Venture Agreement with Grasim Industries Limited, the Company has incorporated a joint venture company, namely Birla Advanced Knits Private Limited to foray into manufacturing of Man Made Cellulosic Fibre (MMCF) Knit Fabrics. The Company and Grasim, each have 50% holding in the joint venture company.
During the year 2021-22, Company launched two new real estate projects, viz., Birla Niyaara' at Worli, Mumbai in the month of February, 2022 and 'Birla Tisya' at Rajajinagar, Bengaluru in the month of December, 2021. Besides this, the second phase of Birla Vanya', Kalyan was launched in the month of September, 2021. During the year, Birla Estates Private Ltd., a Wholly Owned Subsidiary of the Company signed an agreement to jointly develop a prime 52-acre land parcel in North Bengaluru with M S Ramaiah Realty LLP. It formed a Joint Venture in collaboration with Grasim Industries Limited namely Birla Advanced Knits Private Limited' (JV Company) to manufacture Circular Knit Fabrics in Bharuch District.
During 2022-23, as part of technical upgradation and production enhancement, Paper Machine no.4 (Recycle based paper) was upgraded with a new state of Art technology 'Shoe press along with Nipco-P roll' leading to increase in production capacity by
up to 20% on account of sheet dryness increase. This resulted in reduction in steam consumption, increase in Moisture and quality
improvement. Head box servicing and change of both top and bottom lip was done along with shoe press installation to reduce 2-sigma cross directional GSM variation in final Paper. In addition to this, Rewinders of Paper Machine nos.3 and 4 were also technically upgraded with new slitting station from Mariocotta, Italy to improve the cutting quality. DCS of De-inking plant and Paper Machine nos. 3 and 4 was upgraded in place of obsolete system to keep automation reliability. Double doctoring at Couch to avoid rewetting and Edge Trim Squirt box to reduce Edge cuts/trim carryover with paper was additionally installed on both Paper Machine nos. 3 and 4 for better machine runability. Erection work of new Evaporator equipment was completed.
During the year 2023, Company completed 2 commercial projects, Birla Aurora, Worli and Birla Centurion. It launched 5 residential projects, Birla Alokya, Birla Navya and Birla Vanya, Birla Niyaara and Birla Tisya' establishing its presence in major cities such as Mumbai Metropolitan Area (MMR), the National Capital Region (NCR), and Bengaluru.
Century Textiles & Industries Ltd
Chairman Speech
Dear Shareholders,
FY22 began with a deadly hold of the pandemic, making it feel like we were still
trapped in the middle of a year that started several months ago. But as is the nature of
challenges, they invariably push people and societies to adapt and evolve. The exigencies
of the pandemic freed thinking from its conventional shackles and pushed the boundaries of
innovation. But these changes did not take place in a vacuum. Without the resilient
presence of frontline workers across sectors, such innovation would not hold ground. The
convergence of the new with the old was a key element in our collective quest to emerge
stronger from the pandemic. Even though, the near-term global outlook remains uncertain,
the promise of this decade still holds.
The global economic backdrop
Global economies recovered from the pandemic shock in 2022 on the back of supportive
fiscal and monetary policies and mass vaccination programmes. However, at the end of FY22,
the war in Ukraine and the subsequent economic sanctions on Russia posed a large shock. It
disrupted energy markets and supply chains and added to the already evolving inflationary
pressures and concerns over consumer demand. Consequently, growth forecasts have been
slashed. The International Monetary Fund (IMF) now expects the world economy to grow by
3.6% in CY22, that is 0.8 percentage points slower than its pre-war projections. Many
economies have experienced a sharp surge in inflation recently, particularly in food and
fuel prices, taking their inflation rates well beyond the targets of central banks. Taking
cognizance of the rapid pick-up in inflationary momentum, interest rates have been hiked
and are poised to go up further. The pace of rate hikes is turning out to be quite swift
as monetary authorities attempt to catch up with the rising inflation from their
ultra-accommodative stance during the pandemic. As the stance of monetary policy shifts,
there is greater turbulence in currency markets. The dollar has been strengthening, while
emerging economies have witnessed downward pressure on their currencies. At the same time,
energy and commodity markets have witnessed heightened volatility. Global supply chain
disruptions due to pandemic induced lock downs have been replaced by new disruptions due
to the war in Ukraine and the economic sanctions. While the global economic backdrop is
challenging there are reasons to remain optimistic. First, despite the slowdown, IMF's
projection of world GDP growth in CY22 is still tracking the pre-pandemic average during
2010s. Second, fiscal support in developed economies remains above the pre-pandemic trend,
even if somewhat diluted versus past years. Third, mega-trends around sustainability,
green investments, digitization, and disintermediation remain well-entrenched and will
support growth and productivity enhancement in the medium-term.
Thus, while businesses will need to remain on guard regarding financial market
volatility and cost pressures this year, one could expect the medium-term growth recovery
to remain on track.
A new and stronger India
Despite the global macro-economic challenges, I believe, in India we are at the cusp of
an extraordinary decade. With the roll out of economic reforms as profound as those
introduced in 1991, a new generation of Indian entrepreneurs are embarking on audacious
journeys. With the twin-balance sheet problem of stressed loans and over-leveraged
corporates behind us, the coming decade will see an upsurge in capital expenditure across
several sectors. The private sector is on the pathway of what I like to call, the
double-engine growth', riding high on both the conventional and the new economy.
Investors are excited about growth prospects in core sectors as well as sunrise sectors.
However, in my view, the word sunrise sector virtually applies to the entire landscape in
India, including conventional sectors like cement, steel, power, and auto, along with
emerging areas like digital and renewables. Both hold the promise of high and sustained
growth.
Riding high on tailwinds of growth
TEXTILE INDUSTRY - BIRLA CENTURY
The Indian textile industry has picked up pace and recovered significantly after
witnessing a few sluggish years. The geopolitical winds of change have resulted in India
emerging as the best option for many importers. This has been backed by the Indian
government's aggressive approach to closing various Free Trade Agreements (FTAs).
Government announcements such as the Production Linked Incentive (PLI) scheme, the setting
up of mega textile parks, and the extension of the Rebate of State and Central Taxes and
Levies scheme will further support the sector. The industry, buoyed by these factors, is
on the path to a speedy recovery.
This recovery was also reflected in our performance, with growth seen across domestic
and export segments of Birla Century. Strong demand in USA, our key market, and increased
demand in the domestic market supported by demographic and socioeconomic factors bodes
well for our business. The focus on expanding the portfolio, especially in terms of
natural and recycled textiles, will aid in capturing the upcoming market demand.
REAL ESTATE - BIRLA ESTATES
The Indian real estate sector is on a recovery trajectory despite the pandemic-induced
challenges and ensuing restrictions. Large-scale infrastructure projects, policy push from
the government, and demand for sustainable solutions have helped drive growth. Record-low
interest rates, affordability, and other favourable factors have helped harness positive
sentiments. Timely delivery, transparency and trust have become key hygiene factors along
with quality, leading to a preference for organised players.
The need for bigger homes, better amenities and increased environmental consciousness
is driving growth in the residential segment. The office space segment is seeing increased
demand as technology firms continue to expand. With more offices looking to call employees
back onsite, leasing activity has picked up, especially in the latter half of the year,
primarily driven by the IT and ITES industry. Despite the challenging environment and
inflationary pressures, the strong rebound witnessed by the real estate sector has created
a positive headway for the coming year.
The Birla Estates team has rapidly embraced digital and fast-tracked technology
adoption to enhance customer experience. This is demonstrated by the significant growth in
bookings and the positive market response to newly launched projects. The focus on
building exceptional properties leveraging cutting-edge technology, sustainable design,
and consumer insights makes Birla Estates stand out and capture market growth.
PULP & PAPER INDUSTRY - CENTURY PULP & PAPER
The pulp & paper industry has been under pressure due to increasing raw material
prices, shortage of key inputs like wood and coal, supply chain challenges and short-term
demand hurdles due to COVID-19 variants. At the same time, the pandemic has brought focus
on cleanliness, creating new opportunities for tissue and toilet paper. The e-commerce
boom over the last two years has led to a surge in corrugated and container board demand.
Demand is also expected to pick up in FMCG, healthcare & pharma, packaged foods, and
the textile sectors, especially for eco-friendly packaging options. The reopening of
educational institutions across the country and the implementation of the National
Education Policy (NEP) 2020 should also contribute to the demand for writing and printing
paper. The proposed ban on single-use plastic is expected to further fast-track the
adoption of alternative, environmentally conscious options.
Despite the challenging environment, Century Pulp and paper has grown over pre-Covid
levels, with near 100% capacity utilisation. Going forward, the expected increase in
demand from multiple downstream industries and the government's focus on eco-friendly
options opens up a host of possibilities for the business. We will be strategically
working on expanding our portfolio and our manufacturing and integration capacity to
capitalise on the available market opportunities.
Driving the future
As CTIL enters its 125th year, it becomes imperative to continue building on the strong
foundation. Over the last couple of years, we have become increasingly focused on
innovation, customer-centricity, and sustainability. Going forward, we will double down on
harnessing these as our core strengths to stay ahead of the curve in all the industries we
serve.
INNOVATION
CTIL businesses are bound together by their focus on innovation and technology to drive
growth. Innovation is key. We are always in the quest to add industry-defining value-added
products to our portfolio that help us serve our customers better. At the same time,
innovation is also fundamental to our journey of becoming more environmentally
conscious be it by reducing our environmental footprint or introducing innately
sustainable products.
CUSTOMER-CENTRICITY
Customers form the cornerstone of CTIL's existence, and this notion is incorporated
into our vision, mission, and values. We have retained the position of partner of
choice' for our customers through our continuous engagement, customised products and
tailored services. Our persistent focus on customer needs and quality enables us to
continue serving to the best of our capabilities.
SUSTAINABILITY
At CTIL, sustainability is embedded in everything we do, making it an integral part of
our businesses. Starting from our core strategy to the smallest business decisions and
actions, all must pass the sustainability impact test. We persistently create value for
our stakeholders by making choices that create a positive impact on the environment,
people, and communities.
We have set out on a sustainable growth path with our talented workforce, our
innovative portfolio and optimised processes and platforms. Innovation,
customer-centricity, and sustainability will remain key drivers for CTIL over the next
couple of decades.
Sincerely, |
Kumar Mangalam Birla |
Chairman |
  Â
Century Textiles & Industries Ltd
Company History
Century Textiles and Industries Limited is principally engaged in manufacturing of Textiles, Pulp and Paper and Real estate. The Company is a multi-location, multi-product organization with diversified interest from textile to real estate to pulp & paper. It is a paper producer offering writing and printing grades, copier, specialty grades, tissue and packaging boards. Its ready-to-wear garments are marketed under Cottons by brand 'Century'. The Company's New Textile Mill, Birla Century, in Gujarat manufactures textile fabrics.
In the real estate business, the Company operates under the brand 'Birla Estates'. It has land parcels in prime locations in Worli, 30 acres, Kalyan, 132 acres and Pune, 45 acres, where the Company is rolling out its development plans for premium and mid income housing and commercial use. In addition to owned land, Birla Estates has already signed a MoU to develop 1 million sq. ft. of residential project in Gurgaon.
Century Textiles and Industries Limited was incorporated in the year 1897 as a Public Limited Company at Mumbai. In the year, the Company began their Rayon Division at Kalyan, near Mumbai to manufacture Viscose Filament Rayon Yarn. In the year 1960, they signed a technical collaboration and know-how agreement with Alemene, Kunstzigde Unie N.V. of Holland and Verinigts Glazstoff-Fabriken AG of Germany to set up a super two-tyre yarn and a cord plant with capacity of 6 1/4 tonnes per day. In the year 1961, the Company obtained a licence for a rayon grade caustic soda plant of the capacity of 30 tonnes.
In the year 1963, the company commenced production of Viscose Tyre Yarn / Industrial Yarn. In the year 1964, they commenced the production of Caustic Soda and other chemicals. In the 1969, they acquired a salt manufacturing unit at Jamnagar to ensure continuous supplies of good quality salt to the caustic soda plant. In the year 1974, the company diversified into production of Cement by establishing their first cement plant at Baikunth, near Raipur (Chhattisgarh) to produce 0.60 million Tonnes Per Annum (TPA) of Portland Cement. In the year 1980, the company established their second Portland Cement plant at Maihar in Madhya Pradesh with a capacity of 0.80 million TPA.
In the year 1984, the Company established Rayon and/or paper Grade Pulp and Writing & Printing Paper Unit with an installed capacity of 20,000 tonnes each per annum at Lalkua near Nainital (Uttaranchal). In the year 1985, the Company established their third Portland Cement plant at Gadchandur in Maharashtra with a capacity of 1 million TPA. In the year 1987, the Company entered into new markets such as Taiwan, South Korea, Hongkong and Japan.
In the year 1990, the chemical division of the Company obtained permission from the Govt. to introduce the membrane cell technology in the caustic soda plant. In November 1991, the Company was selected by the MP Govt. for establishing, maintaining and operating a 2 x 210 MW thermal power station at Pench in the Chhindwara Dist.. The Company established a separate unit 'Century Power' to undertake the project.
In the year 1995, the Company established their second paper unit based on Bagasse adjacent to the existing Pulp and Paper Plant at Lalkua with a capacity of 84,600 tonnes of paper per annum. During the period of 1995-96, Company commenced commercial production in their fourth Portland Cement Plant with a capacity of 1 million TPA adjacent to the existing plant at Maihar. In the year 1997, they commenced generation in Thermal captive power plant.
In the year 2002, the Company bunged its operations at Bagasse paper plant at Nainital and as new dimension, made treaded into branded apparels by leveraging on its brand 'Century'. The company had ranged into value-added readymade garments in the year 2003 and also posted in accessories under the brand name of 'Cottons by Century'. In March 2005, the installation of 6 MW Power Plant using LSHS/Furnace oil was completed and the plant commenced commercial production.
In cement segment, the new captive thermal power plants of 15 MW at Maihar Cement Unit and 10 MW at Century Cement Unit were commissioned in March 2006 and April 2006 respectively. In October 2006, the company's project on blended cement was registered under the Clean Development Mechanism with the executive body of the United Nations Framework Convention of Climate Change (UNFCCC). In February 2007, the company commissioned the expanded Paper unit for manufacturing Paper from waste paper with a capacity of 211 tonnes per day.
During the year 2007-08, the company completed the modification and upgradation work at all cement units was completed and the cement manufacturing capacity was increased to 7.80 million tonnes per annum with effect from March 1, 2008. The company set up a new clinker line of the capacity of 2.50 million tonnes and an equivalent cement grinding facility, adjacent to the existing plant of Manikgarh Cement at Gadchandur, Maharashtra, along with a captive Thermal Power Plant of 40 MW.
During the year 2008-09, the company commissioned the prime grade tissue paper plant at Lalkua, Dist. Nainital, Uttarakhand with a capacity of 100 tonnes per day for manufacture of a number of varieties of tissue paper.
On 4 October 2014, Century Textiles and Industries (CTIL) announced that the company's Manikgarh Cement Unit No. II (expansion unit) with a capacity of 2.80 million tonnes per annum has commenced production of cement and started cement dispatches from 26 September 2014.
On 1 February 2016, Century Textiles and Industries (CTIL) announced that at a meeting of the Board of Directors of company held on 1 February 2016, it has been decided that activities related to real estate development presently being carried under different divisions of the company should be consolidated and undertaken under a new division viz. Birla Estates' for development of surplus land available with the company located at its various divisions and also to undertake business activities such as Builders, Promoters/Developers for land & buildings etc. including purchase of land anywhere in India.
The Board of Directors of Century Textiles and Industries (CTIL) at its meeting held on 22 August 2017 approved the sale of Century Yarn and Century Denim units of the textiles segment situated at Satrati in Madhya Pradesh on a slump sale basis as a going concern for a lump sum consideration of Rs 2.51 crore. CTIL said that the operations of the Yarn and Denim units were not viable due to their small sizes and hence it was considered appropriate to sell these units.
On 1 February 2018, Century Textiles and Industries (CTIL) announced that with effect from 1 February 2018 CTIL has granted Right to Manage and Operate the Viscose Filament Yarn (VFY) business of the company to Grasim Industries Limited (GIL). Consequently, the company shall be deemed to have suspended operations of VFY business during a period of 15 years with effect from 1 February 2018. Earlier, the Board of Directors of CTIL at its meeting held on 12 December 2017 approved entering into agreement with Grasim for granting Right to Manage and Operate the Viscose Filament Yarn (VFY) business of the company to Grasim for a duration of 15 years for a commuted royalty of Rs 600 crore. Grasim shall also provide CTIL Rs 200 crore as in interest-free, refundable, security deposit and pay to CTIL consideration for the transfer of working capital to Grasim at actual. Post completion of the tenure of the agreement, CTIL shall resume operations of the VFY business.
The Board of Directors of Century Textiles and Industries (CTIL) at its meeting held on 20 May 2018 approved the draft scheme for the demerger of the cement business of the company into UltraTech Cement Limited. The Board has approved the swap ratio, as recommended by the independent valuers, of l (one) new equity share of UltraTech for every 8(eight) equity shares held in CTIL. CTIL said that the demerger aims at deleveraging CTIL's balance sheet and creating an opportunity for its next phase of growth in the remaining businesses with a primary focus on Real Estate. It also achieves unlocking of the value of the cement division to its shareholders through the issuance of equity shares of UltraTech directly to the shareholders of CTIL. UltraTech is the largest and one of the most valuable cement players in India and the shareholders of CTIL will continue to have exposure to cement through their highly liquid equity shareholding in UltraTech.
During the year 2017-18, the Company has incorporated a Wholly Owned Subsidiary namely Birla Estates Private Ltd for the purpose of undertaking Real Estate Development Projects. In view of no business left to undertake, the Board of Bander Coal Company Private Ltd., Company's associate, has commenced the process of voluntary liquidation of the said associate and has already appointed a liquidator under the applicable provisions of law.As of 31 March 2018, Industry House Ltd., in which Company holds about 35% shares, is an Associate Company.
During the FY2019,the Company has undertaken a project to expand the Prime Grade Tissue Paper Plant capacity from 100 tonnes per day to 200 tonnes per day with an Anchor GSM of 19 grams at a total capital outlay of Rs 100 crore at the existing Pulp and Paper Plant at Lalkua, District Nainital, Uttarakhand. The project is expected to be commissioned and operational in the 2nd quarter of FY 21.
During the year 2018-19, the Company has incorporated a Wholly Owned Subsidiary namely Birla Century Exports Private Ltd for the purpose of conducting distribution business in the USA directly with brands and retailers.
During the FY2020,the company done Technical upgradation, removing of bottlenecks and balancing the Bagasse based (PM3 Machine), and recycle paper-based paper plant (PM4 Machine), with an investment of Rs 65 Crore which will increase monthly paper manufacturing capacity from 7200 Mt to 8500 Mt for each plant. This expansion will help in reducing overall manufacturing cost (of these two machines), quality improvement and increase in production. Also Installation of new evaporator at a cost of Rs 105 Crore.This will help lowering down Power cost and increase in pulp production.
During the year 2019-20, the month of March saw the world being impacted by the COVID-19 pandemic and the nation going into a lockdown. The lockdown disrupted the normal business activities and created pressure on absorption and collections.
During the FY2021,the total exports of the Company amounted to Rs 345.85 Crore as against Rs 598.72 Crore in the year 2020 representing about 12.91% of the total income.
During the year 2020-21,the new Tissue Plant to manufacture Prime Grade Tissue Paper with a capacity of 100 tonnes per day was installed and trial run of the plant has been started on 14 March 2021. Due to Covid-19, no erection and commissioning activities have been undertaken during 2020-21 for upgradation of paper machines 3 & 4 and for installation of a new evaporator.
During the quarter ended 30 September 2021, pursuant to a Joint Venture Agreement with Grasim Industries Limited, the Company has incorporated a joint venture company, namely Birla Advanced Knits Private Limited to foray into manufacturing of Man Made Cellulosic Fibre (MMCF) Knit Fabrics. The Company and Grasim, each have 50% holding in the joint venture company.
During the year 2021-22, Company launched two new real estate projects, viz., Birla Niyaara' at Worli, Mumbai in the month of February, 2022 and 'Birla Tisya' at Rajajinagar, Bengaluru in the month of December, 2021. Besides this, the second phase of Birla Vanya', Kalyan was launched in the month of September, 2021. During the year, Birla Estates Private Ltd., a Wholly Owned Subsidiary of the Company signed an agreement to jointly develop a prime 52-acre land parcel in North Bengaluru with M S Ramaiah Realty LLP. It formed a Joint Venture in collaboration with Grasim Industries Limited namely Birla Advanced Knits Private Limited' (JV Company) to manufacture Circular Knit Fabrics in Bharuch District.
During 2022-23, as part of technical upgradation and production enhancement, Paper Machine no.4 (Recycle based paper) was upgraded with a new state of Art technology 'Shoe press along with Nipco-P roll' leading to increase in production capacity by
up to 20% on account of sheet dryness increase. This resulted in reduction in steam consumption, increase in Moisture and quality
improvement. Head box servicing and change of both top and bottom lip was done along with shoe press installation to reduce 2-sigma cross directional GSM variation in final Paper. In addition to this, Rewinders of Paper Machine nos.3 and 4 were also technically upgraded with new slitting station from Mariocotta, Italy to improve the cutting quality. DCS of De-inking plant and Paper Machine nos. 3 and 4 was upgraded in place of obsolete system to keep automation reliability. Double doctoring at Couch to avoid rewetting and Edge Trim Squirt box to reduce Edge cuts/trim carryover with paper was additionally installed on both Paper Machine nos. 3 and 4 for better machine runability. Erection work of new Evaporator equipment was completed.
During the year 2023, Company completed 2 commercial projects, Birla Aurora, Worli and Birla Centurion. It launched 5 residential projects, Birla Alokya, Birla Navya and Birla Vanya, Birla Niyaara and Birla Tisya' establishing its presence in major cities such as Mumbai Metropolitan Area (MMR), the National Capital Region (NCR), and Bengaluru.
Century Textiles & Industries Ltd
Directors Reports
Century Textiles & Industries Ltd
Company Background
Incorporation Year | 1897 |
Registered Office | Century Bhavan,Dr Annie Besant Road Worli Mumbai,Maharashtra-400030 |
Telephone | 91-22-24957000,Managing Director |
Fax | 91-22-24309491/24361980 |
Kumar Mangalam Birla Company Secretary | Atul K Kedia |
Auditor | S R B C & Co LLP |
Face Value | 10 |
Market Lot | 1 |
Listing | BSE,MSEI ,NSE, |
Registrar | Link Intime India Pvt Ltd C-101 247 Park,L B S Marg,Vikhroli West,Mumbai-400083 |
Century Textiles & Industries Ltd
Company Management
Director Name | Director Designation | Year |
---|
Kumar Mangalam Birla | Chairman (Non-Executive) | 2023 |
Yazdi P Dandiwala | Independent Director | 2023 |
Rajan A Dalal | Independent Director | 2023 |
S K Jain | Independent Director | 2023 |
Rajashree Birla | Director | 2023 |
Atul K Kedia | Company Sec. & Compli. Officer | 2023 |
Preeti Vyas | Independent Director | 2023 |
Sunirmal Talukdar | Independent Director | 2023 |
PRAMOD KABRA | Independent Director | 2023 |
Sunirmal Talukdar | Independent Director | 2023 |
Century Textiles & Industries Ltd
Listing Information
Listing Information |
---|
BSE_500 |
CNX500 |
BSESMALLCA |
CNXSMALLCA |
BSEALLCAP |
BSEMETERIA |
SML250 |
MSL400 |
NFTYMSC400 |
NFTYSC50 |
NFTYSC250 |
NF500M5025 |
NFTYINDMFG |
NFTYTOTMKT |
NMIM503020 |
Century Textiles & Industries Ltd
Finished Product
Product Name | Unit | Installed Capacity | Production Quantity | Sales Quantity | Sales Value |
---|
Sales | NA | 0 | 0 | 0 | 4527.87 |
Rent from Leased Properties | NA | 0 | 0 | 0 | 174.71 |
Other Operating Revenue | NA | 0 | 0 | 0 | 34.61 |
Export Sales | NA | 0 | 0 | 0 | 16.57 |
Government Grants | NA | 0 | 0 | 0 | 16 |
Service | NA | 0 | 0 | 0 | 12.74 |
Scrap Sales | NA | 0 | 0 | 0 | 12.66 |
Insurane and other Claims | NA | 0 | 0 | 0 | 0.05 |
Renewable Energy Credits | NA | 0 | 0 | 0 | 0 |
Cloth-Birla Century Made UPS | Mtr | 0 | 0 | 0 | 0 |
Others-Traded | NA | 0 | 0 | 0 | 0 |
Traded goods | NA | 0 | 0 | 0 | 0 |
Income from Air Taxi Operation | NA | 0 | 0 | 0 | 0 |
Textile Goods | NA | 0 | 0 | 0 | 0 |
Others | NA | 0 | 0 | 0 | 0 |
Others incl.Trial Run Products | NA | 0 | 0 | 0 | 0 |
Charter Hire & Freight | NA | 0 | 0 | 0 | 0 |
Discount | NA | 0 | 0 | 0 | 0 |
Sales Returns | NA | 0 | 0 | 0 | 0 |
By Products | NA | 0 | 0 | 0 | 0 |
Adjustment | NA | 0 | 0 | 0 | 0 |
Capsicum(Plants) | No | 0 | 0 | 0 | 0 |
Carnation Flower(Mother Plants | No | 0 | 0 | 0 | 0 |
Carnation Plants | No | 0 | 0 | 0 | 0 |
Carnation Plants (Mother Plant | No | 0 | 0 | 0 | 0 |
Gerbera Flower (Mother Plants) | No | 0 | 0 | 0 | 0 |
Rose Plants. | No | 0 | 0 | 0 | 0 |
Rose Plants Traded | No | 0 | 0 | 0 | 0 |
Carnation Flower (Traded) | No | 0 | 0 | 0 | 0 |
Cut Flowers (Mother Plants) | No | 0 | 0 | 0 | 0 |
Cut Flowers-Rose | No | 0 | 0 | 0 | 0 |
Cut Flowers-Traded | No | 0 | 0 | 0 | 0 |
Flowers-Carnation | No | 0 | 0 | 0 | 0 |
Gerbera Flowers (Traded) | No | 0 | 0 | 0 | 0 |
Gerbera Flowers. | No | 0 | 0 | 0 | 0 |
Capsicum. | Ton | 0 | 0 | 0 | 0 |
Salt | MT | 0 | 0 | 0 | 0 |
Refined Salt-Traded | MT | 0 | 0 | 0 | 0 |
Salt-Refined | MT | 0 | 0 | 0 | 0 |
Cement | MT | 0 | 0 | 0 | 0 |
Clinker | NA | 0 | 0 | 0 | 0 |
Power Generation | KW | 0 | 0 | 0 | 0 |
Power Generation | MW | 0 | 0 | 0 | 0 |
Chlorine-Liquid | MT | 0 | 0 | 0 | 0 |
Hydrogen Gas-Compressed | M3 | 0 | 0 | 0 | 0 |
Hydrochloric Acid | MT | 0 | 0 | 0 | 0 |
Sulphuric Acid | MT | 0 | 0 | 0 | 0 |
Carbon Disulphide | MT | 0 | 0 | 0 | 0 |
Caustic Soda | MT | 0 | 0 | 0 | 0 |
Pulp-Rayon Grade | MT | 0 | 0 | 0 | 0 |
Newsprint | MT | 0 | 0 | 0 | 0 |
Paper(incl.Paper/Straw Board) | MT | 0 | 0 | 0 | 0 |
Paper-Bagasse based | MT | 0 | 0 | 0 | 0 |
Recycle based Paper | MT | 0 | 0 | 0 | 0 |
Tissue Paper | MT | 0 | 0 | 0 | 0 |
Made-ups | Set | 0 | 0 | 0 | 0 |
Cotton Yarn | Kg | 0 | 0 | 0 | 0 |
Cotton Yarn/Blended Yarn | Kg | 0 | 0 | 0 | 0 |
Cloth | Mtr | 0 | 0 | 0 | 0 |
Cotton Fabrics | NA | 0 | 0 | 0 | 0 |
Cotton Fabrics-Traded | NA | 0 | 0 | 0 | 0 |
Denim Cloth | Mtr | 0 | 0 | 0 | 0 |
Yarn | Kg | 0 | 0 | 0 | 0 |
Tyre Yarn/Fabric | MT | 0 | 0 | 0 | 0 |
Rayon Yarn | MT | 0 | 0 | 0 | 0 |
VFY & Vis.Tyre/Indl.Yarn | MT | 0 | 0 | 0 | 0 |
Rayon Waste | NA | 0 | 0 | 0 | 0 |
Fabric-Traded | Mtr | 0 | 0 | 0 | 0 |
Garments-Traded | Pcs | 0 | 0 | 0 | 0 |
Towels | NA | 0 | 0 | 0 | 0 |
Spinning Mach. & Other Equip. | No | 0 | 0 | 0 | 0 |
Looms-Cloth | No | 0 | 0 | 0 | 0 |
Spindles-Cotton Yarn | No | 0 | 0 | 0 | 0 |
Spindles-Cotton/Blended Yarn | No | 0 | 0 | 0 | 0 |