You are here » Home » Companies » Company Overview » Swan Energy Ltd

Swan Energy Ltd.

BSE: 503310 Sector: Infrastructure
NSE: SWANENERGY ISIN Code: INE665A01038
BSE LIVE 19:43 | 19 Oct 157.70 0.70
(0.45%)
OPEN

158.50

HIGH

162.00

LOW

156.80

NSE 19:44 | 19 Oct 157.85 1.45
(0.93%)
OPEN

157.40

HIGH

162.00

LOW

156.40

OPEN 158.50
PREVIOUS CLOSE 157.00
VOLUME 17651
52-Week high 213.40
52-Week low 94.35
P/E 584.07
Mkt Cap.(Rs cr) 3,853
Buy Price 0.00
Buy Qty 0.00
Sell Price 157.70
Sell Qty 420.00
OPEN 158.50
CLOSE 157.00
VOLUME 17651
52-Week high 213.40
52-Week low 94.35
P/E 584.07
Mkt Cap.(Rs cr) 3,853
Buy Price 0.00
Buy Qty 0.00
Sell Price 157.70
Sell Qty 420.00

Swan Energy Ltd. (SWANENERGY) - Company History

Originally promoted by J P Goenka, the Bombay-based Swan Mills was already sick when it was taken over by the Dave group in 1990. In three years, its accumulated losses touched a whopping Rs 92 cr. It was referred to the BIFR for a revival package in 1992. Swan Mills has five units -- Aryodaya Spinning & Weaving Mills, Ahmedabad; Basanti Cotton Mills, Calcutta; and, Kurla Spinning & Weaving Mills, Swan Mills and Jubilee Textile Mills in Bombay. The BIFR proposal envisaged revival of only the spinning unit -- Swan Mills. In 1993-94, the company started operations in all departments by accepting job work. Nearly 80% of the processing work in the mill is being run on job works. As per the BIFR package, the company disposed excess land owned by it on a commercial basis. The company achieved a turnaround by posting a profit in 1993-94. With the funds available through land sale, the company is carried out a modernisation programme. Through merchant exporters, it started supplying to big retailers in Europe like Marks & Spencers, the UK retailing giant. It also diversified into the manufacture of cuprammoniam rayon yarn by setting up Vini Rayon Industries, a joint venture with the Gujarat Industrial & Investment Corporation. For this, it has tied up with Ralston & Associates, US, to set up a pilot plant near Jagadiah, Gujarat. In Dec'95, BIFR declared that the company is no longer sick and discharged it from its purview. On successful implementation of Voluntary Retirement Scheme, all the manufacturing activities has been suspended as all the operative workers/staff have opted for the scheme.