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Garden Silk Mills Ltd.

BSE: 500155 Sector: Industrials
NSE: GARDENSILK ISIN Code: INE526A01016
BSE LIVE 15:40 | 15 Dec 36.50 0.50
(1.39%)
OPEN

36.90

HIGH

37.45

LOW

36.25

NSE 15:41 | 15 Dec 36.45 0.45
(1.25%)
OPEN

36.70

HIGH

37.60

LOW

36.10

OPEN 36.90
PREVIOUS CLOSE 36.00
VOLUME 18318
52-Week high 40.90
52-Week low 27.00
P/E
Mkt Cap.(Rs cr) 154
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 36.90
CLOSE 36.00
VOLUME 18318
52-Week high 40.90
52-Week low 27.00
P/E
Mkt Cap.(Rs cr) 154
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Garden Silk Mills Ltd. (GARDENSILK) - Company History

Garden Silk Mills Ltd is one of the leaders in Indian Textile Industry, with particular strength in Polyester Filament based textiles and yarns. The company's products and services include textiles, which includes yarn (including partially oriented yarn and processed yarns), cotton, polyester, silk, fabrics, georgettes, chiffons, failles and jacquards. Their apparel section includes vareli business shirts and ready-to-wear women garments. The company operates in two segments, namely textiles and finance. They are having their manufacturing facilities located at Vareli and Jolwa in Gujarat. Garden Silk Mills Ltd was incorporated in the year 1979 as a private limited company under the name and style of Vareli Weaves Pvt Ltd. The company was established with the main object of manufacturing synthetic textiles. They became a public limited company on July 17, 1987. In the year 1987, Garden Silk Mills Pvt Ltd, Prabhat Silk & Cotton Mills Co Ltd, Garden Print Centre Pvt Ltd and Special Weaves Ltd were amalgamated with the company and the name was changed to Garden Silk Mills Ltd with effect from June 4 1987. In addition, Jayshree Filaments Ltd was amalgamated with the company with effect from April 18, 1987. During the year, the company launched new studio line range of pure silks and chiffons, the entire process of which was handled in-house. They installed and commissioned 430 hi-tech Japanese Waterjet Looms. They singned a technical collaboration agreement with Tsudakoma Corporation of Japan for the manufacture of two-for-one twisters and rewinders as a part of its diversification project to manufacture machines such as filament yarn sizing machine, looms and other textile accessories In the year 1991, the company in collaboration with NOY-VAL Lesina, Switzerland set up a polyester filament yarn (PFY) project of multi-filament and micro-filament yarn with the installed capacity of 5,000 TPA. In the year 1992, the company introduced sheer micro filament fabrics, which made an impressive debut in the market. Garden Finance Ltd and Garden Securities Ltd were amalgamated with the company with effect from July, 1997. In March 2001, the company commissioned captive power project of 5.5 MW capacity at Jalwa. In addition, they set up a Natural Gas based Captive Power Project of 6.6 MW capacity at Vareli complex. In February 2002, they commenced commercial production of the Draw Winder Project. During the year 2002-03, the company commenced commercial production of the Phase I expansion of POY spinning lines and increased the production capacity to 32200 MT per annum. They also set up down stream capacities such as Draw Warping, Weaving, Two-for-one Twisting Machines and Captive Power Generation to consolidate their position in the domestic polyester industry. During the year, the company signed an agreement with Gujarat Gas Co Ltd for the supply of 0.166 million standard cubic meters of gas per day. During the year 2003-04, the company completed their Phase II expansion and enhanced their POY capacity from 32,200 TPA to 65,200 TPA. The company also set up one natural gas based power-generating turbine. During the year 2004-05, the company in association with Chemtex, USA commissioned a state-of-the-art 600 tonnes per day Continuous Polymerisation polyester project at their plant in Jolwa, Surat. During the year 2005-06, the company introduced numerous new yarns, fabrics and prints in line with their strategy of maintaining a continually differentiated product portfolio. They commissioned their 145 TPD Direct-Spinning POY project. The company also increased their yarn processing capacity, by installing additional texturising machines. During the year 2006-07, the company increased their draw-winding capacity by doubling the capacity of each draw-winder with in-house technology. During the year 2007-08, the company commissioned a gas based captive power project thereby enhancing capacity of Captive Power generation by 8.4 MW at the company's plant at Jolwa. They also commissioned 12 Nos Draw Texturising Machines at Jolwa, to increase the capacity for downstream processes. The company had been accorded the status 'Star Export House' by the Office of Joint Director General of Foreign Trade, Ministry of Commerce & Industry, Government of India on achieving the required Export targets. In addition, the company's Vareli Plant was the first in polyester weaving industry to achieve ISO 9002:1994 certification by Bureau Veritas Quality International. In March 2009, the company commenced commercial production of their new 600 TPD Continuous Polumerisation project at their plant in Jolwa, Surat. In June 2009, they also commissioned their POY and FDY projects enhancing their capacity by about 53,000 TPA at Jolwa, Surat. The company is setting up an 18 MW power plant in order to maintain uninterrupted power supply. The company is setting up a Continuous Polymerisation Plant for polyester Filament grade chips with a capacity of about 300 tonne per day along with FDY Spinning capacity of about 100 TPD. The Company is also expanding its yarn processing capacity.