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Arunoday Mills Ltd.

BSE: 502700 Sector: Industrials
NSE: N.A. ISIN Code: INE469E01011
BSE 05:30 | 01 Jan Arunoday Mills Ltd
NSE 05:30 | 01 Jan Arunoday Mills Ltd

Arunoday Mills Ltd. (ARUNODAYMILLS) - Company History

Incorporated on 3 Oct.'62, Arunoday Mills, was promoted by the late C T Sheth and K K Sheth, senior partner of the K T group. It commenced commercial production in 1965 with an installed capacity of 12,000 spindles, which currently stands at 36,000 spindles. The company has two units at Morbi, Gujarat, manufacturing cotton yarn and cotton and blended yarn, and are equipped with a fibre and yarn dyeing plant. Its plant and equipment were modernised in 1993 to enhance quality and production. Its yarn is used by the knitwear industry. It is an input for some major brand names like TTK, Kajori and Nitex. It has an extensive marketing network with sales offices in major cities, and distributors / agents in Tiruppur, Ludhiana, Benares and Ahmedabad. The company set up a 300-kW wind energy farm, comprising one wind mill, in Mar.'95 at Lamba (near Porbunder), Gujarat, and plans to set up eight more in the near future in stages. During 1997-98, the modernisation & Renovation of plant & machinery has been a continous process inspite of difficult year, the company has invested Rs 597.79 lacs in plant & machinery and other assets. During May,2003 the company had submitted CDR scheme to IDBI for Financial Restructuring. The company also made reference to BIFR as the networth was fully eroded due to increase in accumulated losses.