In Q4 FY24, overall production volumes increased by 6% YoY, however, were 4% lower than previous quarter. Sales volumes increased by 13%YoY. However, consistently reducing NSR impacted Sales Turnover and EBITDA.

In its outlook, that company stated that writing & printing and copier paper demand is expected to improve post elections with government tenders opening in Q1 FY25. Seasonal factors are expected to moderately revive demand with an increase in exports offering improved realizations and greater price stability.

Export demand from Europe, USA and UK markets is consistent and is expected to improve in FY25. However, Oversupply in market is likely to continue in FY25 as the market growth is lower than the capacity being added by domestic as well as international mills

In textiles segment, revenue remained constant year on year to Rs 12.49 crore in Q4 FY24.

“After careful consideration and deliberation, the board approved the proposal to discontinue all operations at the Birla Century Bharuch unit except some minor manufacturing operations and other allied activities relating to supply of Yarn to Birla Advanced Knits Private Limited, a joint venture of the company and Grasim Industries limited,” the company stated.

In Real Estate business, revenue soared to Rs 92.16 crore in Q4 FY24, steeply higher than Rs 36.12 crore in Q4 FY23. Booking value stood at Rs 2,881 crore in Q4 FY24. Are sold was 0.58 million square feet.

Meanwhile, the company’s board has recommended a dividend of Rs 5 for the financial year ended 31st March 2024.

Further, the board has approved the sale of machineries of discontinued Spinning and Weaving departments of Textile division of the company situated at Bharuch, Gujarat.

Century Textiles & Industries has presence in cotton textiles, pulp & paper and real estate sectors.