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Stiles India Ltd.

BSE: 531152 Sector: Consumer
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Stiles India Ltd
NSE 05:30 | 01 Jan Stiles India Ltd

Stiles India Ltd. (STILESINDIA) - Company History

Incorporated in 1985 as a public limited company under the name Shah Ceramics, Stiles India acquired its present name in 1989. It was promoted by Suryachandra Rao, S V Rao and S Venkateswara Rao. The company set up a 15,000-tpa unit to manufacture ceramic glazed wall and floor tiles in the Chittoor district of Andhra Pradesh. The project was set up with technical assistance from SACMI, Italy, one of the leading manufacturers of ceramic producing machinery. Commercial production commenced in Feb.'91. In 1994, the management was taken over by the Spartek group, from the original promoters. Spartek is well established group in the ceramic industry. The company has restarted production during June'98 and expect to achive full capacity in coming months. During 2001, the company could not operate for six months i.e. April to March'2001 due to lack of working capital. As part of expansion programme the company convert the plant with an option to manufacture value added tiles and wall tiles which would fetch the company better realisation and would also enable the Spartek Group to be the only one to provide floor tiles, wall tiles, sanitaryware and other related products.