Mrinal Dyeing & Manufacturing (MDML) was incorporated in Aug.'88 under the name Mars Synthetic Pvt Ltd, and was subsequently converted into a public limited company. The name was changed to the present one in Jun.'92. The company was originally promoted by Manish Dewan and Veena Dewan. In Apr.'92, MDSL was taken over by Rajkumar Nahata. Initially, the company manufactured dyed yarn and subsequently entered into texturising, twisting and re-cycling of waste yarn. MDML went public in Jul.'93 to part-finance the cost of the expansion-cum-backward-integration project for the manufacture of dyed, texturised, and twisted filament yarn; and for diversification into re-cycling of waste yarn. The company plans to double its capacity, financed through internal accruals.