Leadership Messages
Message from Chief Financial Officer
CTIL has been able to demonstrate its commitment to sustainability, by constantly investing in sustainable sourcing, efficient technologies, and product innovation across all sectors to minimise our environmental and social impact.
With the changing market dynamics and uncertainties over the past year, CTIL has continued its journey of brilliance in its core businesses of real estate, pulp and paper, and textiles by being an organisation that values financial innovation and resilience. Despite all financial and political fluctuations, we have achieved significant milestones in our operations and sustainability initiatives.
On the financial front, the Company has maintained a strong outlook, with a robust revenue growth of 16%, and improved profitability in its core business sectors. The Company’s financial management strategy which focuses on capital management, and cash flows, is constantly monitored and improved to enable us to optimise our resources, minimise our risks, and create long-term value for all stakeholders.
To ensure that the Company is constantly innovating and expanding technically, we have spent ₹ 4.35 Crores on R&D in FY 2022-23. Moreover, CTIL has been able to demonstrate its commitment to sustainability, by constantly investing in sustainable sourcing, efficient technologies, and product innovation across all sectors to minimise our environmental and social impact.
On the social front, the Company has made investments in CSR projects spanning across various states in India and invests in training for all its employees, along with ensuring a safe and secure work environment.
On the social front, the Company has made investments in CSR projects spanning across various states in India and invests in training for all its employees, along with ensuring a safe and secure work environment. The consolidated profit of the Company stood at ₹ 406.25 Crores (before tax) for FY 2022-23.
The real estate business, going forward, will be positioned as the real estate arm of the Aditya Birla Group and will be the growth engine of Century Textiles and Industries Ltd. The Pulp & Paper business is expected to significantly add to the Company’s overall cash flows, and therefore will continue to receive appropriate capital support. In coming financial years, the Company will invest actively in the real estate and the pulp and paper verticals, since these business areas have a huge potential for growing in a sustainable and environmentally friendly manner.
CTIL will, going forward, continue to be an organisation that pursues business growth by meeting the ever-changing needs of the market and at the same time balance it with financial stability through its robust financial management and responsible business practices.
Sincerely,
Snehal Shah, Chief Financial Officer
