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Adhunik Synthetics Ltd.

BSE: 514055 Sector: Industrials
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Adhunik Synthetics Ltd
NSE 05:30 | 01 Jan Adhunik Synthetics Ltd

Adhunik Synthetics Ltd. (ADHUNIKSYNTH) - Company History

The Company was incroporated as a private limited company on 21st January 1982 and was converted into a public limited company on 6th September 1985. The Company was originally promoted by Radheshyam Poddar Gourishankar Poddar Satyanarayan Jalan Ramdas Jalan and their associates to set up a textile division at MIDC Murbad of Maharashtra with an installed capacity of 84 Automatic looms for manufacturing 16.36 lakh mts. per annum. Commercial production commenced in April 1983. The company made diversification by setting up another unit at MIDC Jalgaon Maharashtra for manufacturing 1960 tonnes per annum of texturised yarn 120 tonnes per annum of twistd yarn and 300 tonnes per annum of dyed yarn. Commercial production of this unit commenced in March 1987. In 1989 subsequent to the change in the management Satyanarayan Jalan Ramdas Jalan and Anand Jalan resigned from the directorships of the Company. Since then the company was being controlled by the Poddars and their associates.The company has manufacturing units at Murbad Jalgaon Dhule UmbergaonPalod Bhiwandi. The company manufactures Synthetic Fabric and PolyesterTexturised Yarn. During 2000-01 the Plant & Machinery of the Kim Unit was sold and manufacturing operations at Jalgaon Units were remained suspended.The Company approached BIFR in 2000-01 and the BIFR declared the Company as Sick Industrial Undertaking.