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Adinath Textiles Ltd.

BSE: 514113 Sector: Industrials
NSE: N.A. ISIN Code: INE207C01019
BSE LIVE 14:04 | 22 Jun 4.65 -0.15
(-3.13%)
OPEN

4.70

HIGH

4.70

LOW

4.65

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 4.70
PREVIOUS CLOSE 4.80
VOLUME 1700
52-Week high 5.34
52-Week low 1.43
P/E 12.92
Mkt Cap.(Rs cr) 3
Buy Price 4.65
Buy Qty 800.00
Sell Price 5.04
Sell Qty 225.00
OPEN 4.70
CLOSE 4.80
VOLUME 1700
52-Week high 5.34
52-Week low 1.43
P/E 12.92
Mkt Cap.(Rs cr) 3
Buy Price 4.65
Buy Qty 800.00
Sell Price 5.04
Sell Qty 225.00

Adinath Textiles Ltd. (ADINATHTEXTILES) - Company History

Adhinath Textiles was incorporated in 1979 by the Oswal Group of Ludhiana, who also promoted Mahavir Spinning Mills and Vardhaman Spinning and General Mills. It manufactures synthetic and wool-blended hosiery and, knitting yarns which are marketed under the Adinath brand name. The company commenced operations on a small-scale in 1979-80, at Ludhiana, with an installed capacity of 5392 worsted spindles and a combing capacity of 773 tpa of wool tops. It came out with a public issue in Oct.'88 to finance its long term working capital requirements. By Mar.'90, it added additional 6000 worsted spindles. Since, the acrylic market for worsted spinning units is turning into a low margin activity, the company has decided to come out of the hosiery segment by diversifying into polyester wool, pure wool and polyester viscose yarns suitable for worsted suitings. In 1995-96, the company earned a foreign exchange of Rs 5 cr. During the year, due to the continued recession witnessed by the acrylic yarn industry, the company's margins were eroded due to increase in the cost of the raw material, restricted money supply, increase in interest rates and significant devaluation of rupee. Despite marked impovement in production, turnover and exports, the profitablity of the company did not improve correspondingly. During the year 2000-01, due to the accumulated losses the company has eroded its networth and is filling a reference to the BIFR under the provisions of SICA, 1985.