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Virgo Polymers (India) Ltd.

BSE: 531282 Sector: Industrials
NSE: N.A. ISIN Code: INE464H01015
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
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Virgo Polymers (India) Ltd. (VIRGOPOLYMERS) - Company History

Established in 1985 as Virgo Polybags (P) Ltd, Virgo Polymers (India) established a factory at Maraimalainagar, Tamilnadu. The original promoters of the company were unable to bring in necessary finance to run the company viably. In Jun.'90, the present promoter - A Ramdass took over the company. At the time of take-over, the company had one manufacturing unit with a capacity to manufacture 180 tpa of PP/HDPE woven sacks. The present promoter initiated steps to put up the unit on a viable basis. The manufacturing unit was completely revamped. With this modification / addition to the machinery, the capacity of the unit was increased from 180 tpa to 345 tpa, by Nov.'90. A second manufacturing unit was established at a site close to the first unit at Maraimalainagar, in Aug.'92. In 1995, the company embarked upon an expansion-cum-product diversification project envisaging a capacity increase from 1555 tpa to 3715 tpa. The project involves the capacity enhancement of poly woven sacks from 1555 tpa to 3715 tpa, and incorporate facilities for the manufacture of jumbo bag fabric and PP laminated jumbo bag fabric. It came out with a public issue in Oct.'95 to part-finance the project. The company is taking up technology upgradation on high quality fabrics using Sulzer looms to meet the demands on International market and to improve its overseas clientele. During 2002-03 the company has completed expansion programme for increasing the production capacity by 1000 MTs/p.a.