Bhilwara Spinners Ltd

Bhilwara Spinners Ltd

Engaged in the manufacture of cotton yarn synthetic blended yarn hosiery yarn and sewing threads Bhilwara Spinners is controlled by the Bhilwara group of Rajasthan. A subsidiary of Rajasthan Spinning & Weaving it became an independent company in 1990-91. It exports to countries in western Europe and east Asia.Bhilwara Spinners came out with a public issue in Apr.'93 to part-finance its modernisation and to augment its working capital. A cost overrun of Rs 45 lac was met through internal accruals.In 1995-96 the company undertook a balancing-cum-modernisation and expansion programme costing Rs 22.78 cr and as a result 3840 spindles are added. The 4.25 MW Power project was completed in October1998. he company completed the installation of 3 Autoconers and 8 Two for one twisters. The scheme of Amalgamation of the company M/s Rajasthan Spinning & Weaving Mills Limited has not been given effect in view of the order of the Hon'ble High Court of RajasthanJodhpur passed during 2000-01. The company made a reference to BIFR about accumulated losses resulting in erosion of the networth of the company.